Free Trial
US

Reverse Repo Operation

US TSY FUTURES

BLOCK, Large 2Y Sale

US OUTLOOK/OPINION

Walmart  Earnings Miss Underlines Macro Inflation Risks

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

USD/KRW Above 200-DMA

KRW

USD/KRW is marginally higher but has already given back the majority of its opening gains, USD/KRW last up 0.40 at 1135.20. The rate is now the highest since early March, and within 10 points of the 2021 high at 1145.20. The pair is now above its 200-day moving average at 1131.97, the first time since July 2020. The KOSPI is higher in early trade after posting losses for the fifth straight session yesterday.

  • South Korea reported 528 daily new coronavirus cases on Tuesday, back below 600 on fewer tests over the weekend, but health authorities remained alert over a potential hike amid continued cluster inflections and spreading variant cases.
  • Elsewhere the US will provide up to 80 million doses of COVID-19 vaccines to other countries by the end of next month, President Biden said Monday, reiterating his pledge to turn his country into an "arsenal" of vaccines for the entire world. South Korea currently facing a temporary shortage of vaccines with most of its purchased shipments scheduled to start arriving later in the year, it is unclear if South Korea will be a recipient of US vaccines. South Korean President Moon Jae-in is set to visit Washington this week for his in-person summit with Biden on Friday.
  • There are no domestic releases on the docket today, as a reminder South Korean markets are closed for a holiday tomorrow. Upon their return on Wednesday PPI data will be released, while export data is on the slate for later this week.

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.