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Free AccessUSD/KRW has lost some altitude and now...>
KOREAN WON: USD/KRW has lost some altitude and now trades -2.00 fig. at
KRW1,217.90, with regional equity benchmarks taking their cue from Friday's
positive session on Wall St. Little in the way of local headlines to rock the
boat so far, which gestures towards broader picture developments described in
previous bullets.
- South Korea reported trade data for the first 10 days of the month. Daily
average exports tumbled 30.2% Y/Y as the coronavirus outbreak took its toll.
- Just worth noting that South Korea detected a new cluster of coronavirus cases
among the customers of clubs and bars in a district of Seoul. The number of
cases linked to the cluster was 54 on Sunday. Seoul's mayor ordered the closure
of all clubs and bars in the capital.
- A drop below KRW1,214.65, which limited losses last Friday, would open up Apr
10/Mar 27 lows of KRW1,206.90/1,205.20. Bulls need a breach of May 4 pea at
KRW1,229.95 before targeting Apr 21 high of KRW1,240.90.
- Wednesday will see the release of South Korea's unemployment, while terms of
trade hit the wires on Friday.
To read the full story
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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.