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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.
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Free AccessMNI China Daily Summary: Wednesday, Aug 21
MNI BRIEF: China Aluminium Imports To Increase In 2024
USD/KRW opened higher, following.........>
KOREAN WON: USD/KRW opened higher, following yesterday's demand for the
greenback, inspired by comments from Fed Chair Powell. The rate sits +4.40 fig.
at KRW1,228.10.
- South Korean FinMin Hong said this morning that the gov't wants to create
1.56mn jobs in the public sector as off'ls are trying to limit the hit from the
coronavirus outbreak to the local labour market.
- The count of coronavirus cases linked to a new cluster in Seoul's Itaewon
district reached 120, with 43 secondary infections detected. Local authorities
are working to track down and test people who have recently visited the area.
- Elsewhere, Chinese Pres Xi spoke by phone with his South Korean counterpart
Moon, promising that he still plans to visit Seoul this year.
- A break above May 4 high of KRW1,229.95 would shift the focus to Apr 21 high
of KRW1,240.90. A further rally through Apr 2 high of KRW1,242.55 would give
bulls some impetus. Bears look for a drop below May 11 low of KRW1,214.35,
towards Apr 10/Mar 27 lows of KRW1,206.90/1,205.20.
- South Korean terms of trade will be published tomorrow.
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
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.