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1 Month USD/KRW Up From Low 1340 Region, April Unemployment Out Soon

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1 month USD/KRW got close to 1340 late in Thursday Asia Pac trade before retracing modestly higher. We finished the NY session back near 1347.50. We still recorded a won gain of 0.29% for the session. The won has risen against the USD each session so far this week. Note onshore spot finished up yesterday's session at 1345.10.

  • A rebound in US yields, amid caution from Fed officials around the inflation outlook, aided a broader USD recovery, which weighed on the won. Tech related equity sentiment was also modestly weaker, as global equity indices softened in US and EU markets.
  • To recap, local equities were higher yesterday, +0.83%, with offshore investors adding nearly $344 to local stocks.
  • For the 1 month NDF, the 100-day EMA is nearby at 1344.8. Further south sits the 200-day around 1333.75. The pair hasn't been sub 1340 since March. On the topside, note the 50-day EMA at 1355.44.
  • On the data front today we have the April unemployment rate shortly. The market expects a steady 2.8% outcome.
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1 month USD/KRW got close to 1340 late in Thursday Asia Pac trade before retracing modestly higher. We finished the NY session back near 1347.50. We still recorded a won gain of 0.29% for the session. The won has risen against the USD each session so far this week. Note onshore spot finished up yesterday's session at 1345.10.

  • A rebound in US yields, amid caution from Fed officials around the inflation outlook, aided a broader USD recovery, which weighed on the won. Tech related equity sentiment was also modestly weaker, as global equity indices softened in US and EU markets.
  • To recap, local equities were higher yesterday, +0.83%, with offshore investors adding nearly $344 to local stocks.
  • For the 1 month NDF, the 100-day EMA is nearby at 1344.8. Further south sits the 200-day around 1333.75. The pair hasn't been sub 1340 since March. On the topside, note the 50-day EMA at 1355.44.
  • On the data front today we have the April unemployment rate shortly. The market expects a steady 2.8% outcome.