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Global Macro
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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.
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Free AccessWon Strengthens After Data Beat
The won has strengthened on Wednesday, benefitting from a weaker greenback, strength in equities and a beat in industrial output data. USD/KRW last down 6.10 at 1086.05, compared to session lows of 1085.65.
- Broad-based greenback sales into the end of the month, quarter and year were a driving force through the session. Focus fell on U.S. fiscal affairs, with optimism re: approval of the U.S. House for increasing stimulus checks tempered by Senate Majority Leader McConnell's objection to a motion to pass the bill unanimously. It now seems unlikely the Senate will have chance to consider the deal before Congress adjourns Sunday.
- Industrial production rose 0.5% Y/Y in November, compared to expectations for a 0.5% decline. Business survey results dropped from the previous month, signalling tough times could be ahead.
- South Korean markets have shrugged off some coronavirus concerns. South Korea reported 1,050 new coronavirus cases over the last 24 hours vs. 1,046 the previous day – the second straight day daily cases exceed 1,000.
To read the full story
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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.