MNI BRIEF: Cuts Should Be Timely But Cautious - Buba's Nagel

MNI BRIEF: ECB Policy Decisions Based On Broad Analysis- Lane

MNI BRIEF: Less Than Half Canada Firms See Inflation Obstacle

MNI China Daily Summary: Monday, November 25

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 22

MNI: PBOC Net Injects CNY76.7 Bln via OMO Monday

EZ/UK T-Bill Calendar: 2/3-Month ATB Auction on Tuesday

MNI: BELGIUM NOV BNB BUSINESS SURVEY -11.1

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, DE Due on Tuesday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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

1 Month USD/KRW Near 1360, As Onshore Markets Return

KRW

South Korean markets return today, after being shut for the Harvest Moon holiday period since last Thursday. The 1 month USD/KRW has mostly been on the front foot since onshore markets closed. We spiked above 1360 briefly yesterday, but these moves drew selling interest. The pair closed near 1360 though in NY trade. Note last Wednesday's onshore spot close was 1349.90.

  • Broader USD strength over the past week, driven by fresh highs in US yields, should see USD/KRW spot open firmer in the first part of trade today.
  • Equity sentiment has been mixed in the tech space, although Tuesday US trade saw noticeable pullbacks in the SOX and MSCI IT indices.
  • We have local data out today, with August IP on tap (-5.8% y/y forecast, prior -8.0%). The cyclical leading index for August is also due. The September PMI prints a little later on.
  • To recap, on Sunday we got better than expected full month trade figures for September. Exports were -4.4% y/y (forecast -9.3%, prior -8.3%). The trade surplus was $3700mn, against a $1078mn projection.
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.