MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

MNI: US NOV CPI 0.3%, CORE 0.3%; CPI Y/Y 2.7%, CORE Y/Y 3.3%

MNI: US NOV SUPERCORE CPI (CORE SERVICES EX-HOUSING) 0.342%

MNI: US NOV CPI UNROUNDED M/M 0.313%, CORE 0.308%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

1 Month USD/KRW Moves Off YTD Highs

KRW

1 month USD/KRW finished in NY at 1283.40, which was down slightly from highs around 1287.50. The late equity rally in US markets, helped pull the pair lower. Onshore spot finished yesterday at 1282.30. Upside, the 100 day (around 1292) and 200 day (~1295) EMAs remain intact. On the downside, the 50-day EMA sits back near 1268.60.

  • The local data calendar is empty until next week. However, we do have Finance Minister Choo speaking at 11am local time to the Korea Enterprises Federation. This comes after the monthly fiscal report is released at 10am.
  • Elsewhere, US President Biden is planning to host South Korean President Yoon for a state dinner in Spring (most likely towards the end of April).
  • For USD/KRW near term sentiment will be dictated by broader risk appetite swings.
  • The SOX and MSCI IT equity indices posted gains for Wednesday's session. A resilient performance given higher US yields/firmer USD trends. To recap, the Kospi fell 1.53% yesterday, with offshore investors selling $232.6mn in local shares.
EM BulletHomepageBulletMarketsEmerging Market NewsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.