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FxWirePro: South Korean won falls in early Asia on the back of lower than expected PPI data

  • EUR/KRW is currently trading around 1,213 mark.
     
  • Pair made intraday high at 1,213 and low at 1,208 levels.
     
  • Intraday bias remains bullish till the time pair holds key support at 1,208 mark.
     
  • A daily close below 1,208 will drag the parity down towards key supports around 1,199, 1,191, 1,184, 1,178 and 1,163 marks respectively.
     
  • Alternatively, a sustained close above 1,208 will take the parity higher towards key resistances around 1,219, 1,228, 1,233, 1,242, 1,252, 1,268, 1,272, 1,280, 1,287 and 1,304 marks respectively.
     
  • Seoul shares open down 0.20 pct at 2160.32.
     
  • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
     
  • South Korea’s February PPI growth m/m decreases to 0.3 % vs previous 1.4 % (revised from 1.3 %).
     
  • South Korea’s February PPI growth y/y increase to 4.2 % vs previous 3.9 % (revised from 3.7 %).

We prefer to take long position in EUR/KRW around 1,210, stop loss at 1,205 and target of 1,219.

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2017-04-28 03:30:03
0m
Fintech Week Chicago

April 27 23:50 UTC Released

JPIP Forecast 2 Mth Ahead*

Actual

-3.7 %

Forecast

Previous

8.3 %

April 27 23:50 UTC Released

JPIP Forecast 1 Mth Ahead*

Actual

8.9 %

Forecast

Previous

-2 %

April 28 05:00 UTC 4040m

FRConstruction Orders YY*

Actual

Forecast

Previous

5.7 %

April 28 05:00 UTC 4040m

JPConstruction Orders YY*

Actual

Forecast

Previous

5.7 %

April 28 05:00 UTC 4040m

JPHousing Starts YY*

Actual

Forecast

-2.4 %

Previous

-2.6 %

April 28 05:30 UTC 7070m

FRConstruction Orders YY*

Actual

Forecast

0.4 %

Previous

0.40 %

April 28 05:30 UTC 7070m

DEGDP Preliminary QQ

Actual

Forecast

0.4 %

Previous

0.40 %

April 28 06:00 UTC 100100m

GBRetail Sales YY Real

Actual

Forecast

3.3 %

Previous

3.5 %

April 28 06:00 UTC 100100m

GBRetail Sales MM Real

Actual

Forecast

0.1 %

Previous

-0.3 %

April 28 06:00 UTC 100100m

DEGDP Preliminary QQ

Actual

Forecast

6.5 %

Previous

7.4 %

Fintech Week Chicago
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