-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI PodcastsFixed IncomeFI Markets AnalysisCentral Bank PreviewsFI PiFixed Income Technical AnalysisUS$ Credit Supply PipelineGilt Week AheadGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance CalendarsEZ/UK Bond Auction CalendarEZ/UK T-bill Auction CalendarUS Treasury Auction CalendarPolitical RiskMNI Political Risk AnalysisMNI Political Risk - US Daily BriefMNI Political Risk - The week AheadElection Previews -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
Global Macro
Global Macro
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
Global MacroDM Central Bank PreviewsDM Central Bank ReviewsEM Central Bank PreviewsEM Central Bank ReviewsBalance Sheet AnalysisData AnalysisEurozone DataUK DataUS DataAPAC DataInflation InsightEmployment InsightGlobal IssuanceEurozoneUKUSDeep DiveGlobal Issuance Calendars EZ/UK Bond Auction Calendar EZ/UK T-bill Auction Calendar US Treasury Auction Calendar Chart Packs -
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessUSD/KRW Back Above 1300, Business Sentiment Dips
1 month USD/KRW climbed back above 1300 post the Asia close. We ended the NY session just above 1301, as the USD saw broad based support. USD/JPY printed at fresh cyclical highs as well, which likely had some spill over to the won. Note, spot USD/KRW ended yesterday at 1299.50.
- Earlier, business manufacturing sentiment fell to 83 from 87 last month, while non-manufacturing sentiment dipped to 81 from 86. Both series continue to lose momentum, although we are well above 2020 lows, see the chart below. This follows yesterday's sharp dip in consumer confidence to 96.4 from 102.6.
- Later this morning we get industrial production data for May. The market expects a 0.5% MoM gain (-3.3% previous), while the YoY pace is forecast to rise to 4.0% (3.3% last). The cyclical leading index for May is also out, -0.3 was the last print.
- Aggregate US equity leads were close to flat overnight, although the SOX index fell by more than 2%, the MSCI IT index was down by just 0.09%. Yesterday, the Kospi dipped just over -1.8%. Offshore investors sold $292.4mn in local equities.
- South Korean President Yoon met with US President Biden and Japan Prime Minister Kishida on the sidelines of the NATO summit in Madrid. This was the first time the leaders of the 3 countries had met together since 2017. The focus of the trilateral meeting was increasing cooperation to deal with the North Korea nuclear threat.
- The South Korean government will raise the minimum wage by 5% next year. This will affect up to 3.4 million workers, although the rise is less than what was typically delivered under the previous government.
Fig 1: South Korea Manufacturing & Non-Manufacturing Indices Dip Further
Source: MNI - Market News/Bloomberg
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.