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Why MNI
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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMNI UST Issuance Deep Dive: Dec 2024
MNI US Employment Insight: Soft Enough To Keep Fed Cutting
MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
Market Eyes 2020 Highs Just Under 1300
The USD/KRW 1 month NDF held above 1290 for much of post-Asia trading, with dips below this level supported. Spot won dipped over 1% vs. the USD yesterday (USD/KRW spot closed at 1288.50).
- The break above 6.8000 in USD/CNH didn't help won sentiment, with USD/KRW's beta close to 1 with respect to USD/CNH moves.
- Negative spill over from China's covid situation, (Beijing denied the city was heading into a lockdown), and major developer Sunac's default can weigh today.
- JPY/KRW also surged, up 2.2%, as yen shorts were unwound across the board.
- Net equity outflows persist, with a further $268mn in net outflows yesterday, bringing week to date outflows to $871mn.
- Locally, new President Yoon Suk Yeol will hold a meeting with BoK Governor Rhee Chang-yong and Finance Minister Choo Kyung-ho to review the economy and financial markets.
- Inflation concerns are likely to be the main focus, a point underscored by import price data released earlier today. YoY is still at +35%, although the MoM print did register a small fall.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.