MNI BRIEF:NGEU To Lift Growth Less Than Expected -ECB Bulletin

MNI BRIEF: US Hiring, Pay Growth Continue Downshift- ADP

MNI BRIEF: EZ Short-Term Uncertainty Low, Long-Term High -ECB

MNI China Daily Summary: Wednesday, January 8

MNI: PBOC Net Injects CNY1.1 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1887 Weds; -2.33% Y/Y

US EIA: CRUDE OIL STOCKS EX SPR -0.96M TO 414.6M JAN 03 WK

MNI:US NOV WHOLESALE INV -0.2%; SALES 0.6%

MNI: US JOBLESS CLAIMS -10K TO 201K IN JAN 04 WK

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

KRW: USD/KRW Spot Supported Sub 20-day EMA, Local Equities May See Weakness

KRW
EM BulletBulletSouth KoreaAPACEmerging Market News

The spot USD/KRW pull back got to around 1445 late on Tuesday. The pair rebounded to 1458.5 post better US data outcomes and higher yields, before closing Tuesday trade just under 1452. This was still a won gain of 0.60%, following Monday's 0.70% rise. The won outperformed broader USD index trends for Tuesday, with the DXY up 0.40%. 

  • The USD/KRW spot RSI (14) is back sub oversold conditions, last near 58.5. We did recover back above the 20-day EMA support level though, which is around 1448.31, based off Tuesday's close.
  • We have already had data on the goods and current account balance for Nov. The goods balance rose, but the current account eased, although both metrics remained above $9bn in surplus territory. This data is not a sentiment shifter for KRW though.
  • The main opposition party leader, Lee Jae-myung, will reportedly meet with the BoK and MinFin to discuss the FX market (per BBG).
  • Samsung Electronics Q4 earnings have just crossed, coming in below market expectations.
  • In addition, the tech side for the Kospi is weaker from offshore, given higher US yields on Tuesday drove weaker sentiment. The SOX fell 1.84%, while the MSCI IT lost 2.16%. Yesterday, the Kospi closed under 2500, while offshore investors added $105.2mn to local shares.
  • An arrest warrant for impeached President Yoon has also been extended. 
222 words

To read the full story

Close

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.

The spot USD/KRW pull back got to around 1445 late on Tuesday. The pair rebounded to 1458.5 post better US data outcomes and higher yields, before closing Tuesday trade just under 1452. This was still a won gain of 0.60%, following Monday's 0.70% rise. The won outperformed broader USD index trends for Tuesday, with the DXY up 0.40%. 

  • The USD/KRW spot RSI (14) is back sub oversold conditions, last near 58.5. We did recover back above the 20-day EMA support level though, which is around 1448.31, based off Tuesday's close.
  • We have already had data on the goods and current account balance for Nov. The goods balance rose, but the current account eased, although both metrics remained above $9bn in surplus territory. This data is not a sentiment shifter for KRW though.
  • The main opposition party leader, Lee Jae-myung, will reportedly meet with the BoK and MinFin to discuss the FX market (per BBG).
  • Samsung Electronics Q4 earnings have just crossed, coming in below market expectations.
  • In addition, the tech side for the Kospi is weaker from offshore, given higher US yields on Tuesday drove weaker sentiment. The SOX fell 1.84%, while the MSCI IT lost 2.16%. Yesterday, the Kospi closed under 2500, while offshore investors added $105.2mn to local shares.
  • An arrest warrant for impeached President Yoon has also been extended.