South Korean January Trade Balance (in $USD)
The South Korean Trade Balance was released as a deficit instead of the expected surplus, driven by a strong decline in exports for January. The USDKRW pair caught a bid following the release jumping above the 1129 handle. The details of the release are as follows:
- Trade Balance – Survey:560M Actual:-1,957M Prior:3992m
- Ext Trade – Export – Actual:41,537M Prior:49,657M
- Ext Trade – Export – Survey:1.1% Actual:-6.6% Prior:12.5%
- Ext Trade – Imports – Actual:43,494 Prior:45,665M
- Ext Trade – Imports – Survey:5.1% Actual: 3.6% Prior:14.0%
South Korean Manufacturing PMI
The South Korean HSBC Manufacturing PMI for January rose to 449.2, above the prior reading of 46.4 but still in a state of contraction.
South Korean CPI
The South Korean Consumer Price Index for January came in softer than expected as did the core reading. The details of the release are as follows:
- CPI (MoM) – Survey:0.6% Actual:3.4% Prior:0.4%
- CPI (YoY) – Survey:3.6% Actual:3.2% Prior:4.2%
- Core CPI (YoY) – Actual:3.2% Prior:3.6%
CaseShiller Data All Weaker
S&P/CaseShiller Home Price Index: Actual: 138.49 Prior: 140.30 Revised: 140.30
S&P/CS 20 City (MoM%) SA: Survey: -0.50% Actual: -0.70% Prior: -0.62% Revised: -0.67%
S&P/CS Composite-20 (YOY): Survey: -3.30% Actual: -3.67% Prior: - 3.40% Revised: – 3.42%
Singapore Unemployment Rate
The 4th quarter seasonally adjusted Unemployment Rate in Singapore came in below the 2.1% estimate at 2.0%. The Singapore Dollar gained a bid against the USD following this better than expected release. On the daily chart below we see the USDSGD pair continues to hover around the 200day moving average and perhaps a rally on the oversold USD could move the pair back toward the 1.28 handle.
Aussie Business Confidence
NAB Business Confidence rose from the prior month, coincidentally risk has caught a bid here early in the Asian session.
- NAB Business Conditions – Actual:1 Prior:1
- NAB Business Confidence – Actual:3 Prior:2
UK Consumer Confidence
The Gfk Consumer Confidence Survey for January expected to be a-32, came in better than expectations at -29 and the prior (-33.) Sterling moved lower following the release, trading at the 1.57 handle.
Japan’s Industrial Productions
Industrial Production improved in December, however the market had no reaction to the release.
- Industrial Production (MoM) – Survey:3.0% Actual:4.0% Prior:-2.7%
- Industrial Production (YoY) – Survey:-5.0% Actual:-4.1% Prior:-4.2%


