We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
USD/JPY
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • What are the truths and lies of #forex trading regardless of your #tradingstyle here: https://t.co/uF75VPzstr https://t.co/cuH9YESlr2
  • The $SGD is driven by the Monetary Authority of Singapore, which manages exchange rate instead of short-term interest rates. Learn more on the SGD and how to trade it. Get your SGD market update from @ddubrovskyFX here:https://t.co/eWLM9XZs5Y https://t.co/HdiCLtSFre
  • #Bitcoin prices may see a pickup in volatility ahead of the 2020 halving as the #coronavirus pandemic threatens to disrupt cross-continental $BTC mining operations. Get your market update from @ZabelinDimitri here: https://t.co/BoH24MVf4P https://t.co/4bgTwNqVvG
  • (Weekly Outlook) The Japanese #Yen faced a mixed week against currencies such as the US Dollar, Euro, British Pound and Canadian Dollar. What is ahead for $USDJPY, $EURJPY, $GBPJPY and $CAD/JPY? - https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2020/04/04/Japanese-Yen-Weekly-Forecast-USDJPY-EURJPY-GBPJPY-CADJPY.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/Flgbd5b2ag
  • Foreign exchange – or “#forex” – markets often pay close attention to politics and central bank policy. We offer a model for traders to gauge their impact on exchange rates. Get your market insight from @ZabelinDimitri and @CVecchioFX here: https://t.co/FbXc1Awu6a https://t.co/Qbhs4ndgPa
  • Why must financial market traders monitor both monetary and fiscal policy? Find out from @MartinSEssex here: https://t.co/Fkzk88Y5gm https://t.co/AldbSctm9V
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/yF133btXFd https://t.co/Sjnr0iVgAf
  • Upside momentum stalls with the #DAX and #FTSE 100 vulnerable to testing lower levels as the economic backdrop deteriorates further. Get your #equities technical analysis from @JMcQueenFX here: https://t.co/BFIaXTfDcs https://t.co/q0Mso4zWlT
  • RT @iv_technicals: *TRUMP SAYS HE'D USE TARIFFS IF NEEDED TO PROTECT OIL INDUSTRY - BBG #OOTT #WTI $USO
  • After the pattern is composed with the closing of the signal candle, then you can look to the following candle to identify a clear bias and risk points. Learn how to apply this knowledge to a trading strategy here: https://t.co/uh3NwgHBVv https://t.co/yl4KUMNmUh
Korean Won Steady Despite Disappointing Growth

Korean Won Steady Despite Disappointing Growth

2017-01-25 02:50:00
David Cottle, Analyst
Share:

Talking Points:

  • South Korea’s Won was steady on news that growth was peaky as 2016 bowed out
  • A weak outcome had been expected
  • However, the economy faces mounting uncertainties

South Korea’s Won didn’t react much to the news that its home nation’s growth was at its lowest point since the end of 2014 as a gloomy outcome had been pretty much priced in.

Preliminary Gross Domestic Product growth for the final quarter of 2016 came in at 0.4%. This matches the level seen in the second quarter of 2015 but growth hasn’t been lower since the end of 2014.

Annual growth was 2.7%, matching the Bank of Korea’s projection.

Analysts had been expecting a weak outcomeaccording to wire reports however, thanks to feeble consumption and investment levels. Economists had also pointed to uncertainties stemming from an influence-peddling scandal involving President Park Geun-hye as a consumption dampener. Consumer sentiment fell in December to the worst level in more than seven years, a central bank survey showed last month, as confidence faltered in the wake of political scandal.

While the scandal will no doubt blow over in time, the country is sailing into all the additional uncertainties of a new US administration. The Trump White House has already made noises on both trade protectionism and America’s defense burden which will alarm Seoul as a close partner of the US in both fields.

These latest data suggest that the South Korean economy is not sailing into these potential squalls in particularly good shape. However, as we noted earlier, a weak outcome was hardly unexpected. To wit, the Won scarcely moved on the figures. That they came out very early in the Asia/Pacific trading session before markets such as Tokyo and Singapore were up and running probably dampened things as well. USD/KRW remained steady around the 1166.41 level.

The BoK has lowered its 2017 growth call to 2.5% from 2.8%. The good news for Seoul is that with debt-to-GDP at an internationally reasonable 40%, there would appear to be plenty of room for more stimulative fiscal spending.

Already braced for disappointment: USD/KRW

Korean Won Steady Despite Disappointing Growth

Chart compiled using TradingView

Need a steer on the first quarter of this new year? Take a look at the Daily FX analysts’ forecasts

--- Written by David Cottle, DailyFX Research

Contact and follow David on Twitter:@DavidCottleFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.