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USD/KRW Back To Early September Lows, First 10-days Of November Trade Data Due

KRW

1 month USD/KRW recorded a -1.56% drop through Thursday's session, slightly underperforming USD losses seen against the majors. Still, the 1 month recorded a peak to trough move of -30 figs (1380 to 1350 (-2.2%) into the NY close) post the US CPI miss. This puts the pair back below the 100-day EMA (1366), while the 200-day EMA comes in at 1318. Onshore spot closed yesterday at 1377.80.

  • Coming up locally is the first 10 days of trade data for November. The BoK will also jointly host a conference where Governor Rhee will give the opening remarks.
  • Otherwise, the focus will likely be on broader risk appetite. The offshore equity lead is a strong one (SOX +10.2%, MSCI IT +8.35%). The Kospi finished 0.90% weaker yesterday but remained above 2400.
  • Offshore investors sold $149.4 of local shares, but inflows would be expected to return today.
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