MNI: Fed's Harker Sees Reason To Hold Rates Steady For Now

MNI BRIEF: US Policy Shift May Cause German Recession - Nagel

MNI BRIEF: China Supply Of New Homes Down In January - CRIC

MNI China Daily Summary: Monday, February 17

MNI BRIEF: President Xi Meets With Tech Leaders

MNI China Press Digest Feb 17: PBOC, Credit Demand, Huijin

EZ/UK Bond Supply Calendar: IT Piu; UK, DE, FI Due Tuesday

EZ/UK T-Bill Calendar: 6-Month ESM-Bill Auction on Tuesday

MNI: FOREIGN HOLDINGS OF CANADA SECURITIES +14.4B CAD IN DEC

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

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

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

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

KRW: Spot USD/KRW Edging Higher, First 10days Exports For Feb Remain Weak

KRW
EM BulletBulletSouth KoreaAPACEmerging Market News

Spot USD/KRW has edged up a little in the first part of Tuesday trade, last near 1453/54. The pair remains comfortably within recent ranges, but is back above the 20-day EMA support point, last near 1449.5. Further south is the 50-day EMA, (near 1438.2). 

  • We had the the first 10days of Feb trade data earlier, so interpretation of the results should still be treated with some degree of caution.
  • Nevertheless the trend move lower in daily average exports (in y/y terms) suggests momentum remains off the heady mid 2024 pace, see the chart below. The first 10days daily average is white, the full month in orange.
  • Otherwise the data calendar is fairly light in terms on bank lending, money supply and trade prices over coming session We also get unemployment figures on Friday. The household lending data and labor market data will be watched from a BOK standpoint (meets towards the end of this month).
  • In the cross asset space, local equities are higher, up around 0.60%, but the Kospi is unable to break above late Jan highs. The won is lagging equity trends. Firm correlations continue with CNY amid trade concerns. Offshore investors have also remained net sellers of local equities so far this month. 

Fig 1: First 10days Exports Versus Full Month Trend - Y/Y 

Keep reading...Show less
222 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 has edged up a little in the first part of Tuesday trade, last near 1453/54. The pair remains comfortably within recent ranges, but is back above the 20-day EMA support point, last near 1449.5. Further south is the 50-day EMA, (near 1438.2). 

  • We had the the first 10days of Feb trade data earlier, so interpretation of the results should still be treated with some degree of caution.
  • Nevertheless the trend move lower in daily average exports (in y/y terms) suggests momentum remains off the heady mid 2024 pace, see the chart below. The first 10days daily average is white, the full month in orange.
  • Otherwise the data calendar is fairly light in terms on bank lending, money supply and trade prices over coming session We also get unemployment figures on Friday. The household lending data and labor market data will be watched from a BOK standpoint (meets towards the end of this month).
  • In the cross asset space, local equities are higher, up around 0.60%, but the Kospi is unable to break above late Jan highs. The won is lagging equity trends. Firm correlations continue with CNY amid trade concerns. Offshore investors have also remained net sellers of local equities so far this month. 

Fig 1: First 10days Exports Versus Full Month Trend - Y/Y 

Keep reading...Show less