Sell EUR KRW

Crédit Agricole CIB recommends selling EUR/KRW (3M NDF) at 1,758, targeting a 5% gain at 1,670 based on superior Korean growth and a surging current account surplus driven by AI chip demand.

Key Takeaways

• 1.Recommend a short EUR/KRW 3M NDF position at 1,758 with a target of 1,670 and a stop-loss at 1,802.
• 2.South Korean macroeconomic performance is significantly stronger than the Eurozone, with GDP growth forecast at 2.6% vs 0.8% for 2026.
• 3.Korea's current account surplus is expected to jump to 12.0% of GDP in 2026, driven by global AI chip demand, while the Eurozone surplus narrows.

Table of Contents

• Relative value for KRW
• Emerging Markets Research advanced tools
• Red Mount Analytics
• Global Markets Research contact details
• Certification
• Valuation and methodology
• Disclaimer

Document Preview

Page 1 of 5

Subscribe for full accessStart Free Trial