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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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Spot USD/KRW trades on a heavier note, last -3.80 figs at KRW1,179.40. Further losses past the 50-DMA at KRW1,175.84 would bring Oct 26 low of KRW1,164.05 into play. Meanwhile, should bulls manage to force a break above Nov 5 high of KRW1,186.65, they could take aim at Oct 12 high of KRW1,200.35.
- USD/KRW 1-month NDF last seen at KRW1,180.95, ~1 fig lower on the day. A fall through the 50-DMA at KRW1,178.68 would expose Oct 26 low/50-DMA at KRW1,165.03/1,164.74. Bulls keep an eye on Nov 4 high of KRW1,188.75 and a break here would open up Oct 12 high of KRW1,201.63.
- FinMin Hong reiterated his pushback against ruling the idea to provide emergency universal cash handouts. Ruling Democratic Party's presidential candidate Lee had previously voiced support for the proposal.
- Maeil Business Newspaper cited an unnamed source in the Democratic Party as noting that Lee is seeking one-year delay in tax on gains from cryptocurrency trading.
- South Korea's labour market data will be published tomorrow. Bloomberg consensus looks for a modest uptick to 3.1% from 3.0%.
- Pres Moon chairs Cabinet meeting today, with FinMin Hong set to attend a parliamentary session thereafter.
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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.