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In October, soaring memory chip sales enabled South Korea exports to enjoy record 12 consecutive months of surge. That’s solid evidence that Asia's number four economy is actually stepping up a gear.
While shipments surge slowed from September, as a matter of fact, October managed to outpace September as for average exports per working day, boasting brisk business activity.
As October exports revealed, export fundamentals still appear to be sturdy enough. Considering that the low-base effect relieved, October managed to fare well, as Stephen Lee told, an economist at Meritz Securities.
Exports headed north 7.1% on-year, which is far below bumper ascend of 35% in September, although average exports per working day accounted for $2.5 billion, thus outperforming September's outcome of $2.35 billion, as government data disclosed on Wednesday.
The annual Chuseok holiday was celebrated by South Korea from October 2 through October 9. As a result, the Asian country reduced the number of working days from 23.5 to 18.
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
Happy Monday, dear traders! Hope you had a great weekend and you’re ready for the last trading week in 2022! Later this week we’ll announce some exciting news for you, but now let’s look through some interesting news! Today’s events: USA, UK, Hong…
On the H4 timeframe, the US dollar index has formed a bullish falling wedge. At the beginning of the trading session, the price is testing the upper border of this wedge. Thus, in case of a higher-than-expected Core PCE Price Index m/m, the US dollar will skyrocket against other currencies.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
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