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Parliament Holds Confirmation Hearing For BoK Gov-Nominee

KRW

Spot USD/KRW trades at KRW1,233.50 at typing, a touch lower on the day. Bears see Apr 14 low of KRW1,222.95 as their initial target and a break here would expose the 50-DMA at KRW1,214.61. Bulls look for a clearance of Apr 12 high of KRW1,238.10 before taking aim at Mar 15 high of KRW1,244.00.

  • USD/KRW 1-month NDF last -2.05 figs at KRW1,233.80. Losses past Apr 13 low of KRW1,222.27 would bring the 50-DMA at KRW1,216.21 into play. Bulls need a rally above Apr 12 high of KRW1,238.60 before targeting Mar 15 high of KRW1,247.94.
  • South Korea's new Covid-19 cases fell to a 10-week low on Monday as the wave of Omicron infections is receding.
  • Parliament is set to hold the confirmation hearing for BoK Governor-nominee Rhee Chang-yong today. The central bank raised its benchmark policy rate last week in the absence of its chief.
  • South Korean factory-gate inflation figures and early trade data will be released on Thursday.
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