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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

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Overnight greenback rally pushed spot USD/KRW higher at the reopen and the rate last sits 3.50 figs better off at KRW1,175.25. A clearance of the nearby Sep 13 high of KRW1,176.95 would bring Aug 20 high of KRW1,181.10 into play. Bears look for a pullback under Sep 16 low of KRW1,165.75, which would clear the way to the 50-DMA at KRW1,158.47.

  • USD/KRW 1-month NDF last seen at KRW1,176.31, a touch higher on the day. Bulls look for a rally above Sep 13 high of KRW1,177.82 towards Aug 20 high of KRW1,184.78, while bears keep an eye on Sep 15 low of KRW1,166.35, followed by the 50-DMA at KRW1,158.98.
  • The Finance Ministry will publish their monthly economic assessment at 10:00 KST/02:00 BST.
  • South Korea will observe the Chuseok holidays, which will result in a market closure through Wednesday. Domestic health officials are vigilant amid concerns over a potential flare-up in Covid-19 cases, inspired by expectations of heightened travel activity during the festive season.
  • On the data front, South Korean preliminary trade data & PPI, due Thursday and Friday respectively, will take focus next week.