FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

South Korea's Inflation Remains Elevated, Gov't Extends Covid-19 Restrictions

KRW

Spot USD/KRW remains on a softer footing, in the wake of yesterday's post-ECB greenback sales. Domestically, the main focus fell on monthly CPI data and an update on Covid-19 rules. The rate last operates -6.60 figs at KRW1,199.90, with bears looking for a fall through the 50-DMA at KRW1,189.91 towards the 100-DMA at KRW1,184.53. Bulls keep an eye on Jan 28 cycle high of KRW1,207.25.

  • USD/KRW 1-month NDF last -1.10 fig at KRW1,200.45. Downside focus falls on the 50-DMA at KRW1,191.24, with bulls looking to a rebound above Jan 28 high of KRW1,214.39.
  • South Korea's consumer prices grew 3.6% Y/Y in January, beating the median estimate of +3.4%, while slowing from December's +3.7%. Core CPI inflation accelerated to +3.0% from +2.7% prior, overshooting the consensus forecast of +2.8%. Both measures remained comfortably above the BoK's +2.0% target, but there is speculation that the central bank could hold off on another rate hike this month, with Gov Lee set to step down after that meeting.
  • PM Kim announced that the current Covid-19 countermeasures will be extended by two weeks, as the Omicron variant continues to drive a surge in new infections. The restrictions were originally scheduled to end this Sunday, but will now remain in place through Feb 20.
EM BulletHomepageBulletMarketsEmerging Market NewsForeign Exchange Bullets
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.