MNI: Fed Shift To Less Long-Dated Bonds To Take Years-Logan

MNI BRIEF: China Steel Output Up During February

MNI: GERMAN Q4 FINAL GDP -0.2% Q/Q, -0.2% Y/Y

MNI: PBOC Net drains CNY170.7 Bln via OMO Tuesday

MNI China Press Digest Feb 25: Private Sector, CSRC, DeepSeek

MNI: PBOC Sets Yuan Parity Higher At 7.1726 Tues; -0.76% Y/Y

MNI: JAPAN JAN SERVICES PPI +3.1% Y/Y; DEC REV +3.0%

EZ/UK T-Bill Calendar: 2/3-Month RATB Auction on Tuesday

EZ/UK Bond Supply Calendar: Spain Synd; IT, UK, DE Due Tuesday

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

KRW: Spot USD/KRW Comfortably Sub 50-day EMA, Underlying Export Trend Softer

KRW
EM BulletBulletSouth KoreaAPACEmerging Market News

Spot USD/KRW sits at 1434/35 in latest dealings, down slightly on closing levels from Thursday. We are sub the 50-day EMA, back just above 1439. Downside focus may rest on the late Jan lows of 1426.8. below that the 100-day EMA is close to 1420.75. 

  • Thursday delivered firm JPY and CNH gains, which positively spilled over for the won, although spot gains of 0.43% lagged some of these moves and some higher beta plays.
  • Broader USD softness has unfolded this week, amidst a relatively steady US yield backdrop and potential signs of lowered geopolitical tensions. The won is one of the better EM Asia FX performers this week, although is up only a modest 0.50%.
  • On the data front, we had mixed sentiment readings. Non-manufacturing dipped to 81.7 from 83.6 Jan. Manufacturing rose to 90.1, but is still well off 2024 highs. Headline exports surged to +16% y/y for the first 20-days of Feb, but on a daily average basis were still negative y/y. This still suggests a loss of export momentum.
  • In the equity space, the Kospi is tracking lower by around 0.4% in early Friday dealings. Offshore leads were partly negative, although the SOX index didn't shift much in US Thursday trade. Offshore investors resumed selling local shares yesterday, with -$353.5mn in outflows. 
214 words

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.

Spot USD/KRW sits at 1434/35 in latest dealings, down slightly on closing levels from Thursday. We are sub the 50-day EMA, back just above 1439. Downside focus may rest on the late Jan lows of 1426.8. below that the 100-day EMA is close to 1420.75. 

  • Thursday delivered firm JPY and CNH gains, which positively spilled over for the won, although spot gains of 0.43% lagged some of these moves and some higher beta plays.
  • Broader USD softness has unfolded this week, amidst a relatively steady US yield backdrop and potential signs of lowered geopolitical tensions. The won is one of the better EM Asia FX performers this week, although is up only a modest 0.50%.
  • On the data front, we had mixed sentiment readings. Non-manufacturing dipped to 81.7 from 83.6 Jan. Manufacturing rose to 90.1, but is still well off 2024 highs. Headline exports surged to +16% y/y for the first 20-days of Feb, but on a daily average basis were still negative y/y. This still suggests a loss of export momentum.
  • In the equity space, the Kospi is tracking lower by around 0.4% in early Friday dealings. Offshore leads were partly negative, although the SOX index didn't shift much in US Thursday trade. Offshore investors resumed selling local shares yesterday, with -$353.5mn in outflows.