MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

CHINA PBOC CONDUCTS CNY50 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1268 Fri; -0.32% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1268 FRI VS 7.1270

MNI: BANXICO HOLDS INTERBANK RATE STEADY AT 11.00%

MNI BRIEF: Fed's Bowman Says Policy Appears To Be Restrictive

MNI: SWISS KOF JUN ECONOMIC BAROMETER 102.7

MNI: SPAIN JUN FLASH HICP +0.3% M/M, +3.5% Y/Y

MNI: FRANCE JUN HICP +0.1% M/M, +2.5% Y/Y

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Onshore Spot Above 1280 Amid Offshore Outflows

KRW

1 month USD/KRW sits below session highs. We got above 1280 in early trade, amid equity market weakness, with weaker export growth in the first 20-days of July also likely weighing, albeit at the margins. The pair last tracked around the 1279 level, still 0.20% weaker in won terms versus Thursday's NY closing level. On the topside the 20-day EMA around 1283 isn't too far away. Onshore spot is above 1281 currently, around 0.90% weaker for the session so far (highs were just short of 1283).

  • The Kospi is in the red but away from worst levels (last 2595/96, -0.15%, earlier lows were at 2570.60). Offshore investors have sold -$317.2mn so far today, meaning we have now seen net outflows for this week (presuming today's trend holds).
  • A better tone to HK and China equities is limiting the fallout for South Korean shares, which were under earlier pressure on tech related headwinds from the US and Taiwan (TSMC disappointing outlook). This is also likely capping USD/KRW gains to a degree.
EM BulletHomepageBulletMarketsEmerging Market NewsForeign Exchange Bullets

To read the full story

Close

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.