1. PBOC almost hold CNY fixing rate and SHCOMP index rose 0.7% today. Adequate devlauation for PBOC, now? Maybe not... see another post in today, about Chinese carry trade.
2. Japanese 2Q GDP declined in line with the market expectation. Dream another monetary easing as a currency war? We should consider the falling popularity of Abe. See another post about this, today.
3. President Park said the government should react against vulnerable sentiments from CNY devaluation actively. BOK seems to cut the policy rate additionally at once.
4. Foreign investors bought above 5k contracts in 10yr KTB futures market as a recorded high historically. Do they expect another policy rate cut as well?
5. On the other hand, USD/KRW rose 9.1won to over 1,180s. Despite this weak KRW, they are buying Korean assets. The momentum of weak KRW seems too strong. See another post about pressure by CNY devaluation.
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