USD/KRW has lost ground as mood music....>

KOREAN WON: USD/KRW has lost ground as mood music surrounding U.S.-China trade

talks has improved, with White House adviser Kudlow suggesting that the U.S. and

China are close to striking their phase-one deal (albeit he noted that Pres

Trump hasn't committed to anything yet). This came after it became apparent that

top level U.S. and Chinese trade negotiators will speak on the phone later

today. The rate currently sits at KRW1,165.15, 4.60 fig. lower on the day.

- In the local news, the Pentagon chief is visiting South Korea, with the

Seoul-Tokyo intel sharing pact & U.S. plans to hike the bills for keeping U.S.

troops on the peninsula being the likely talking points. Elsewhere, Pyongyang

informed that the U.S. asked for negotiations to take place in Dec.

- Bears need the rate to extend losses through the low of Nov 8 at KRW1,153.95,

before targeting the Jul 1 trough at KRW1,148.90. Meanwhile, a jump above the

200-DMA at KRW1,168.14 would return focus to KRW1,172.00, yesterday's peak.

Worth noting that the 50-DMA has recently crossed below the 100-DMA.

- South Korean docket is quiet next week, but it will be worth watching imports

and exports data for the first 20 days of November, due for release on Thursday.