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Won Stays Stable, Samsung Earnings Beat Forecasts

KRW

Spot USD/KRW trades at KRW1,217.70, a touch lower on the day, even as FOMC minutes released Wednesday reaffirmed the Fed's increasingly hawkish stance. Bears look for a retreat under the 50-DMA at KRW1,209.66 before setting their sights on the 100-DMA at KRW1,198.30. Conversely, a rebound above Mar 28 high of KRW1,227.30 would bring Mar 15 high of KRW1,244.00 into play.

  • USD/KRW 1-month NDF last seen at KRW1,217.61, slightly below neutral levels. Downside focus falls on the 50-DMA at KRW1,211.50, while bulls look to a rally above Mar 28 high of KRW1,228.45.
  • Samsung reported Q1 operating profit of KRW14.10tn. It beat average analyst estimates in BBG (KRW13.4tn) an Yonhap (KRW13.2tn) surveys amid solid demand for chips and mobile phones.
  • Looking ahead, South Korea's monthly BoP current account balance will take focus on Friday.
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