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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.
KRW
Despite the stronger than expected labour market data the won has weakened from the open, USD/KRW last up 3.90 at 1123.50 as the greenback regains some lost ground. The KOSPI is under pressure again in early trade, down over 1%, as tech shares resume their sell-off with Nasdaq futures leading the way lower in the US. USD/KRW is approaching its 50-day moving average at 1124.27 with the rate making a brief foray above the level last week but failing to sustain the move.
- Fig.1: USD/KRW challenging 50DMA
Source: MNI/Bloomberg
- South Korea reported 635 daily new coronavirus cases, back above 600, with health authorities remaining on alert over a potential spike amid spreading variant cases. Meanwhile, an aide to President Moon has said that a vaccine partnership with the US is one of the major agenda items for the summit with the US next week.
- There is no more data on the docket today, but markets await any comments from Finance Minister Hong who will hold a meeting on the economy today, while Vice FinMin Lee will hold a press briefing at 0630BST/1330KST.
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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