FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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 Pulls Back From Near 1380 Level, IP Figures Print Soon

KRW

1 month USD/KRW finished up Thursday's NY session just above 1374. This was away from earlier highs above 1379, but still a won loss of 0.36%. Note onshore spot finished up yesterday at 1379.45.

  • A softer backdrop for both USD/JPY and USD/CNH through Thursday trade helped curb recent USD/KRW gains. Still the won underperformed the softer USD backdrop more broadly, given the BBDXY index fell for Thursday's session.
  • Ongoing equity weakness in the tech space didn't help. The SOX fell 0.88% in Thursday trade, while the MSCI IT index lost 2.34%. To recap, onshore equities fell 1.56% yesterday, with offshore investors selling -$537.1mn of local shares.
  • For the 1 month NDF, earlier May highs close to 1380 remain intact on the topside. The 20-day EMA sits back near 1364.6.
  • The local data calendar has April IP and the cyclical leading index on tap. IP is expected to print at 4% y/y (prior 0.7%). There may also be some focus on a National Pension Service fund management committee meeting today.
  • Note tomorrow we get full month May trade figures.
EM BulletHomepagemarkets-real-timeBulletMarketsEmerging 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.