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BoJ Makes Rinban Purchase Offers


Yoon Leads Lee In Presidential Survey

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Spot USD/KRW has edged lower in early trade, last sits at KRW1,166.65, down ~1 fig. A slide through the 100-DMA at KRW1,155.07 would open up Sep 6 low of KRW1,154.00. On the flip side, a rebound above Oct 22 high of KRW1,180.40 would shift focus to Oct 18 high of KRW1,188.40.

  • USD/KRW 1-month NDF last seen at KRW1,167.80, ~1 fig lower on the day. Bears look for a fall through the 100-DMA at KRW1,159.85, while bulls keep an eye on Oct 22 high of KRW1,181.32.
  • Pres Moon met with his ex-rival Lee to form a united front ahead of the 2022 election. The ruling party picked Lee to run for Moon's successor. Elsewhere, leading opposition candidate Hong vowed to ditch a military deal with the North.
  • South Korea's consumer confidence recovered further to 106.8 in October from 103.8 recorded in September, with outturns above 100 indicating that optimists outnumber pessimists.
  • The BoK's Business Survey will hit the wires on Friday, as will industrial output.