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ING analysts say the South Korean economy may already be in recession, with exports and investment weakening and the central bank under pressure to ease. Regional central banks including Malaysia, the Philippines, India, New Zealand and Australia have already cut rates after the US Federal Reserve shifted to an easing bias.
Weakening Korean demand for imports and a regional easing trend point to softer import demand for feed ingredients and a possibly weaker won, which affects Korean buyers' purchasing power for US commodities.
think.ing.comRobert CarnellJul 11, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
