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DOLLAR-WON: USD/KRW last trading at KRW1,163.50, 5...>

CANADA DATA REACT, DOLLAR-WON
DOLLAR-WON: USD/KRW last trading at KRW1,163.50, 5 points or so higher on the
day, just back from session highs.
- Softer than expected Chinese PMI data gave USD/KRW the impetus to break
through resistance in the form of the March 10 2017 high at KRW1,162.98, with
bulls now looking to January 2017 resistance area at ~KRW1,170, with a break
opening up the nearby 61.8% retracement of the move from KRW1,245.20 to
KRW1,054.45 at KRW1,172.33.
- Earlier in the day, domestic Y/Y industrial production data missed exp., while
the M/M metric beat. This came after the latest round of business survey data
printed at near-enough stable levels, while disappointing earnings from Samsung
has applied weight to the KOSPI index, as analysts attempt to judge the impact
of the ongoing trade war for chipmakers.
- South Korea will observe the Labour Day holiday on Wednesday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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