MNI BRIEF: BOC Cutting To 3% Next Year, Ex Governor Dodge Says

MNI BRIEF: Output Gap Shut, Wage Growth Too Fast - BOE Greene

BRIEF: EU-Mercosur Deal In Final Negotiations - EC

MNI China Daily Summary: Thursday, Dec 5

MNI BRIEF: China Construction Output Slows In November

MNI: PBOC Net Drains CNY153 Bln via OMO Thursday

US EIA:NAT GAS STORAGE -30 BCF TO 3,937 BCF NOV 29 WK

MNI: CANADIAN OCT TRADE BALANCE CAD -0.9 BILLION

MNI: US OCT TRADE GAP -$73.8B VS SEP -$83.8B

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Weaker JPY & CNH Levels Offsetting Better Equities For KRW

KRW

Spot USD/KRW sits near 1376 in early Wednesday dealings, slightly down from end Tuesday trade levels. The 1 month NDF is back near 1373. Both pairs remain within recent ranges, albeit biased towards the topside.

  • For spot focus will rest on Tuesday highs just above 1380, which would put us back above the 20 and 50-day EMA resistance levels. Monday lows in spot at 1355 remain intact.
  • Better risk appetite in the global equity space is a won positive, with onshore equities around 1% higher so far today (we opened down slightly). Offshore investors were also modest net buyers of local equities yesterday (+$137.9mn).
  • Still, offset is coming from higher USD/JPY and USD/CNH levels, with firmer US yields (and reduced Fed easing pricing) evident over the past day or so.
  • On the data front, we had the June goods balance and current account figures print earlier, with both series posting stronger surpluses. The current account surplus at +$12.2bn is fresh highs back to 2017, but isn't shifting FX sentiment at this stage.
EM BulletHomepagemarkets-real-timeBulletMarketsEmerging Market NewsForeign Exchange Bullets

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.