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KRW Draws Support From Healthy Recovery In South Korean Industrial Output

KOREAN WON

Spot USD/KRW has faltered amid broader greenback sales into the month-end, including against the yuan, as well as South Korean economic data, which showed that recovery in the country's industrial output was more dynamic than expected. The rate sits -4.30 fig. at KRW1,127.15.

  • South Korea's industrial production returned into growth and expanded 5.4% M/M in Sep, while rising 8.0% Y/Y.
  • Local health officials held a meeting to prepare for the upcoming Halloween weekend. 114 new coronavirus cases were confirmed today.
  • A break below KRW1,125.00, which limited losses on Oct 27, would allow bears to set their sights on Feb 27, 2019 low of KRW1,115.40. On the flip side, a jump above yesterday's high of KRW1,135.70 would shift bullish focus to Oct 13 high of KRW1,151.45.
  • South Korean trade data comes out on Sunday. Then, focus turns to Monday's Markit M'fing PMI, Tuesday's CPI & Thursday's BoP current account balance.
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