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JAPAN DATA

Japan May Exports +49.6% Y/Y; 3rd Monthly Rise

US TSYS

Flat Start

US EURODLR FUTURES

EDN1 Given

JAPAN DATA

Japan Apr Machine Orders Slows; +0.6% M/M

ASIA FX

Goldman Sachs Give Their Asia FX Overview

KOREAN WON
KOREAN WON: Onshore USD/KRW trading resumed where it wrapped up yesterday, the
pair is little changed at KRW1,225.75. It ignored earlier comments from FinMin
Hong, who said that South Korea will increase its efforts to support economic
recovery after the hit from Covid-19. Worth reminding that South Korean schools
are reopening in phases starting today, after a five-month hiatus.
- USD/KRW is flirting with its 50-DMA, intersecting at KRW1,225.80. A fall
through that level would open up May 11 low of KRW1,214.35. Bulls look to take
out May 18 peak at KRW1,234.00, before taking aim at Apr 21/2 highs of
KRW1,240.90/1,242.55.
- Looking ahead, South Korea's PPI & trade data for the first 20 days of the
month hit the wires on Thursday.
MNI London Bureau | +44 203-865-3806 | krzysztof.kruk@marketnews.com