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E-MINI S&P (U1): Northbound


Awaiting Clearer Cues


Local Bonds Take A Knock After the Eid Break


Pullback Considered Corrective

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The won is weaker in early trade, but the move higher in USD/KRW is muted when considering the rally in the greenback on Thursday. The pair is up 1.85 at 1132.25. The rate remains above the 200-DMA (1124.24) and bulls will target the May high at 1137.60.

  • Elsewhere, South Korea reported 507 new cases in the past 24 hours, above 500 for the third day. Health authorities are set to implement a revamped four-tier social distancing scheme next month that will likely ease business curfews and other restrictions. Details of the upcoming measures will be announced Sunday. Meanwhile the government plans to administer vaccines to 22 million people of the general public aged between 18 and 59 starting next month as part of its inoculation campaign, health authorities said Thursday.
  • As a reminder, late Thursday Former Prime Minister Chung Sye-kyun formally announced his intention to run for president next year, promising to become a leader to build a strong economy and stamp out inequality.