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14 Feb 2020

S. Korean FinMin Hong: To deploy all available policy measures to boost domestic investment, KRW rebounds

South Korean Finance Minister Hong Nam-ki said in a policy meeting in Seoul that the government will deploy all available policy measures to boost domestic investment to combat the negative coronavirus risks on the economy.

Key Quotes:

Market volatility may increase again depending on pace of coronavirus spread.

To minimise impact on economy from coronavirus spread.

Coronavirus spread has big direct, indirect impact on local economy.

Ready to deploy contingency plans to calm financial market volatility if needed.

Will take stern market stability measures swiftly if needed.

Market Implications:

The South Korean policymakers are seen reaching out on the wires this Friday to calm the investors amid growing coronavirus risks.

However, Yonhap cited the Korea Centers for Disease Control and Prevention (KCDC), saying that South Korea on Friday reported no new novel coronavirus case for the third consecutive day.

On the positive developments around the coronavirus outbreak and government’s readiness to deploy additional measures to boost the domestic economy, the Korean won (KRW) has bounced-off three-day lows vs. the greenback.

USD/KRW now trades 0.08% lower at 1,182.62, having pulled back from a multi-day top reached at 1,185.40 earlier today.

Feb 14, 2020

USD/JPY Price Analysis: Bounces off 50-bar SMA with limited upside scope

USD/JPY rises to 109.86, following the uptick to an intra-day high of 109.91, during the early Friday. In doing so, the quote recovers the previous da
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Feb 14, 2020

When is the German preliminary Q4 GDP and how could it affect EUR/USD?

German gross domestic product (GDP) due at 07:00 GMT is expected to show the economy expanded 0.1% quarter-on-quarter in the final three months of 201
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