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AUDUSD TECHS

Pierces Key Resistance Points

EUROZONE ISSUANCE

EGB Supply W/C 7 November, 2022

EQUITY TECHS

E-MINI S&P (Z2): Trading Above Last Week’s Low

EUROZONE T-BILL ISSUANCE

W/C 7 November, 2022

EURJPY TECHS

Sights Are On Key Resistance

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Won Hit On Multiple Fronts

KRW

The first part of the session has seen the won unwind its outperformance from the previous session. Spot USD/KRW is near 1440, +1.20% for the session. This is outpacing other USD/Asia pairs (next worst is IDR, down 0.82% against the USD), while the G10 space, NZD/USD is off by 1%.

  • Outside of continued broad based USD gains, weaker equity sentiment is a factor, see the chart below. The Kospi is off by 2.7% and is now back to early July 2020 lows.
  • Apple's earlier news, around ditching plans to boost Iphone production, is weighing on broader tech sentiment within the region.
  • Earlier, retail sales for August were positive, +15.4% y/y versus +9.7% in July. This didn't impact sentiment though.
  • Tomorrow business sentiment for manufacturing and non-manufacturing is due.

Fig 1: USD/KRW & Local Equity Trends

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The first part of the session has seen the won unwind its outperformance from the previous session. Spot USD/KRW is near 1440, +1.20% for the session. This is outpacing other USD/Asia pairs (next worst is IDR, down 0.82% against the USD), while the G10 space, NZD/USD is off by 1%.

  • Outside of continued broad based USD gains, weaker equity sentiment is a factor, see the chart below. The Kospi is off by 2.7% and is now back to early July 2020 lows.
  • Apple's earlier news, around ditching plans to boost Iphone production, is weighing on broader tech sentiment within the region.
  • Earlier, retail sales for August were positive, +15.4% y/y versus +9.7% in July. This didn't impact sentiment though.
  • Tomorrow business sentiment for manufacturing and non-manufacturing is due.

Fig 1: USD/KRW & Local Equity Trends

Keep reading...Show less