MNI China Daily Summary: Thursday, July 25

MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

CBI Price Expectations for Three Months Ahead Lowest Since December 2020

MNI: UK JUL CBI INDUSTRIAL TRENDS TOTAL ORDERS -32

Broad-Based IFO Weakness Reinforces Narrative of Recovery Stall

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

Won Outperforms, Aided By Tech Equity Surge, Local Markets Closed Today

KRW
EM BulletHomepagemarkets-real-timeBulletMarketsEmerging Market NewsForeign Exchange Bullets

1 month USD/KRW finished the Wednesday US session at 1367.6. This was a won gain of 0.30%, outperforming a slight rise in the DXY and a close to unchanged BBDXY index. Note spot won finished up just under 1373 yesterday.

  • 1 month USD/KRW upticks above 1370 were faded post the Asia close on Wednesday, although we couldn't test earlier lows sub 1366. The 20-day EMA is very close to these levels (1365.6). Further south is the 50-day EMA, near 1360.5.
  • Supporting won sentiment was surging tech related shares, the SOX rose just over 4.5% (as Nvidia rose above $3trln market value). the MSCI IT index gained over 2.5% as well.
  • The US real yield fell back sub 2%, fresh lows since early April. US data was mixed with the ADP report weaker, but ISM services painting a more resilient growth outlook compared to recent survey measures.
  • To recap, the Kospi rose just over 1% yesterday, while offshore investors added $469.5mn to local shares.
  • Note local markets are closed today for Memorial day.
172 words

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.

1 month USD/KRW finished the Wednesday US session at 1367.6. This was a won gain of 0.30%, outperforming a slight rise in the DXY and a close to unchanged BBDXY index. Note spot won finished up just under 1373 yesterday.

  • 1 month USD/KRW upticks above 1370 were faded post the Asia close on Wednesday, although we couldn't test earlier lows sub 1366. The 20-day EMA is very close to these levels (1365.6). Further south is the 50-day EMA, near 1360.5.
  • Supporting won sentiment was surging tech related shares, the SOX rose just over 4.5% (as Nvidia rose above $3trln market value). the MSCI IT index gained over 2.5% as well.
  • The US real yield fell back sub 2%, fresh lows since early April. US data was mixed with the ADP report weaker, but ISM services painting a more resilient growth outlook compared to recent survey measures.
  • To recap, the Kospi rose just over 1% yesterday, while offshore investors added $469.5mn to local shares.
  • Note local markets are closed today for Memorial day.