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KRW: USD/KRW Testing 50-day EMA Support, Equities Helping Offset Firmer USD

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EM BulletBulletSouth KoreaAPACEmerging Market News

Spot USD/KRW is softer in the first part of Wednesday dealing, albeit up from session lows. We were last near 1433/34, around 0.15% stronger in won terms. Session lows rest at 1430, a level last seen back in Mid Dec last year.

  • The won is outperforming modest losses for CNH and JPY, while AUD and NZD are also weaker (more so kiwi in the aftermath of the CPI print). Broader USD sentiment is modestly firmer, following earlier Trump tariff comments, which mentioned China and EU (as well as repeating Mexico and Canada threats).
  • Tech sentiment is mostly positive though, with US Nasdaq futures up 0.60%. Earlier Trump also announced a large AI focused joint venture. South Korea's KOSPI is 0.75% higher, supported by gains in tech, battery, and bio stocks. Offshore investors are close to flat so far today though.
  • For USD/KRW techs, current levels are right on the 50-day EMA support point. The 100-day is further south at 1410. 
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Spot USD/KRW is softer in the first part of Wednesday dealing, albeit up from session lows. We were last near 1433/34, around 0.15% stronger in won terms. Session lows rest at 1430, a level last seen back in Mid Dec last year.

  • The won is outperforming modest losses for CNH and JPY, while AUD and NZD are also weaker (more so kiwi in the aftermath of the CPI print). Broader USD sentiment is modestly firmer, following earlier Trump tariff comments, which mentioned China and EU (as well as repeating Mexico and Canada threats).
  • Tech sentiment is mostly positive though, with US Nasdaq futures up 0.60%. Earlier Trump also announced a large AI focused joint venture. South Korea's KOSPI is 0.75% higher, supported by gains in tech, battery, and bio stocks. Offshore investors are close to flat so far today though.
  • For USD/KRW techs, current levels are right on the 50-day EMA support point. The 100-day is further south at 1410.