{"id":47230,"date":"2026-05-21T17:48:01","date_gmt":"2026-05-21T17:48:01","guid":{"rendered":"https:\/\/www.vtmarkets.com\/kr\/uncategorized\/%ec%9c%a0%eb%a1%9c%ec%a1%b4-pmi-%ea%b8%89%eb%9d%bd%c2%b7%ec%97%90%eb%84%88%ec%a7%80%eb%b0%9c-%ec%9d%b8%ed%94%8c%eb%a0%88%ec%9d%b4%ec%85%98%ec%97%90-ecb-%ea%b1%b8%ed%94%84-%ec%a7%80%ec%97%ad-%eb%a6%ac\/"},"modified":"2026-05-21T17:48:01","modified_gmt":"2026-05-21T17:48:01","slug":"%ec%9c%a0%eb%a1%9c%ec%a1%b4-pmi-%ea%b8%89%eb%9d%bd%c2%b7%ec%97%90%eb%84%88%ec%a7%80%eb%b0%9c-%ec%9d%b8%ed%94%8c%eb%a0%88%ec%9d%b4%ec%85%98%ec%97%90-ecb-%ea%b1%b8%ed%94%84-%ec%a7%80%ec%97%ad-%eb%a6%ac","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/kr-asia\/live-updates\/%ec%9c%a0%eb%a1%9c%ec%a1%b4-pmi-%ea%b8%89%eb%9d%bd%c2%b7%ec%97%90%eb%84%88%ec%a7%80%eb%b0%9c-%ec%9d%b8%ed%94%8c%eb%a0%88%ec%9d%b4%ec%85%98%ec%97%90-ecb-%ea%b1%b8%ed%94%84-%ec%a7%80%ec%97%ad-%eb%a6%ac\/","title":{"rendered":"\uc720\ub85c\uc874 PMI \uae09\ub77d\u00b7\uc5d0\ub108\uc9c0\ubc1c \uc778\ud50c\ub808\uc774\uc158\uc5d0 ECB, \uac78\ud504 \uc9c0\uc5ed \ub9ac\uc2a4\ud06c \uc18d 6\uc6d4 \uae08\ub9ac \uc778\uc0c1 \uae30\uc870 \uc720\uc9c0"},"content":{"rendered":"

\uc720\ub85c\uc874(\uc720\ub85c\ud654 \uc0ac\uc6a9 20\uac1c\uad6d) \uc885\ud569 PMI(\uad6c\ub9e4\uad00\ub9ac\uc790\uc9c0\uc218: \uae30\uc5c5 \uc124\ubb38\uc73c\ub85c \uacbd\uae30 \ud750\ub984\uc744 \ubcf4\uc5ec\uc8fc\ub294 \uc9c0\ud45c)\uac00 \ud558\ub77d\ud558\uba74\uc11c 2\ubd84\uae30 \uc131\uc7a5\uc138\uac00 \uc57d\ud560 \uac00\ub2a5\uc131\uc774 \ucee4\uc84c\ub2e4. \ub3d9\uc2dc\uc5d0 \uae30\uc5c5\uc758 \ud22c\uc785\ube44\uc6a9(\uc6d0\uc790\uc7ac\u00b7\uc5d0\ub108\uc9c0\u00b7\uc6b4\uc1a1\u00b7\uc778\uac74\ube44 \ub4f1 \uc0dd\uc0b0\uc5d0 \ub4e4\uc5b4\uac00\ub294 \ube44\uc6a9)\uc740 \uc624\ub974\uace0 \uc788\uc73c\uba70, \uc77c\ubd80 \ube44\uc6a9\uc740 \uc18c\ube44\uc790 \uac00\uaca9\uc73c\ub85c \uc804\uac00\ub418\uace0 \uc788\ub2e4.<\/p>\n

\uc774\ub294 \uacbd\uae30 \ub454\ud654 \uc18d \ubb3c\uac00 \uc555\ub825\uc774 \ud568\uaed8 \ub098\ud0c0\ub098\ub294 \uc0c1\ud669\uc73c\ub85c ECB(\uc720\ub7fd\uc911\uc559\uc740\ud589)\uc5d0 \uc815\ucc45 \ub51c\ub808\ub9c8\ub97c \ub9cc\ub4e0\ub2e4. \ucf54\uba54\ub974\uce20\ubc29\ud06c\ub294 ECB\uac00 6\uc6d4\uc5d0 25bp(\ubca0\uc774\uc2dc\uc2a4\ud3ec\uc778\ud2b8: 0.01%\ud3ec\uc778\ud2b8) \uae08\ub9ac\ub97c \uc778\uc0c1\ud560 \uac83\uc73c\ub85c \ubcf8\ub2e4.<\/p>\n

ECB\uc758 \uc815\ucc45 \ub51c\ub808\ub9c8<\/h3>\n

\ud5a5\ud6c4 \uae08\ub9ac \uacbd\ub85c(\uae08\ub9ac\uac00 \uc5b4\ub5bb\uac8c \uc6c0\uc9c1\uc77c\uc9c0)\ub294 \ud398\ub974\uc2dc\uc544\ub9cc \ubd84\uc7c1 \uc804\uac1c\uc5d0 \ub2ec\ub824 \uc788\ub2e4. \ud638\ub974\ubb34\uc988 \ud574\ud611(\uc911\ub3d9 \uc0b0\uc720\uad6d \uc6d0\uc720 \uc218\uc1a1\uc758 \ud575\uc2ec \ubc14\ub2f7\uae38)\uc774 \uc5f0\uc911 \ud558\ubc18\uae30\uae4c\uc9c0 \ud3d0\uc1c4\ub418\uac70\ub098 \uad50\uc804\uc774 \uc7ac\uac1c\ub418\uba74 \uc5d0\ub108\uc9c0 \uac00\uaca9\uc740 \ub192\uc740 \uc218\uc900\uc774 \uc720\uc9c0\ub418\uac70\ub098 \ub354 \uc624\ub97c \uc218 \uc788\ub2e4.<\/p>\n

\uc5d0\ub108\uc9c0 \ube44\uc6a9 \uc0c1\uc2b9\uc740 \uc6b4\uc1a1\ube44\u00b7\uc81c\uc870\uc6d0\uac00 \ub4f1\uc744 \ud1b5\ud574 \ub2e4\ub978 \uc0c1\ud488 \uac00\uaca9\ub3c4 \ub04c\uc5b4\uc62c\ub9b4 \uc218 \uc788\ub2e4(\uac04\uc811 \ud6a8\uacfc). \uc774 \uacbd\uc6b0 \uc720\ub85c\uc874 \uae30\uc5c5 \uc5ec\uac74\uc774 \uc545\ud654\ub418\ub354\ub77c\ub3c4 ECB\uac00 \ud55c \ubc88\uc744 \ub118\ub294 \ucd94\uac00 \uae08\ub9ac \uc778\uc0c1\uc5d0 \ub098\uc124 \uac00\ub2a5\uc131\uc774 \uc788\ub2e4.<\/p>\n

5\uc6d4 \uc7a0\uc815(\ud50c\ub798\uc2dc: \uc6d4\ub9d0 \uc774\uc804\uc5d0 \uba3c\uc800 \ubc1c\ud45c\ud558\ub294 \uc608\ube44\uce58) PMI\ub294 48.9\ub85c \u2018\uacbd\uae30 \uc704\ucd95\u2019(\uae30\uc900\uc120 50 \ubbf8\ub9cc)\uc744 \ub098\ud0c0\ub0b4\uba70 \uc720\ub85c\uc874\uc758 2\ubd84\uae30 \uacbd\uae30\uac00 \uc57d\ud560 \uac00\ub2a5\uc131\uc744 \uc2dc\uc0ac\ud588\ub2e4. \ub3d9\uc2dc\uc5d0 4\uc6d4 \ubb3c\uac00\uc0c1\uc2b9\ub960\uc740 \uc804\ub144 \ub300\ube44 3.1%\ub85c \uc18c\ud3ed \uc0c1\uc2b9\ud588\ub294\ub370, \uac70\uc758 \uc804\uc801\uc73c\ub85c \uc5d0\ub108\uc9c0 \ube44\uc6a9\uc774 \uc6d0\uc778\uc774\uc5c8\ub2e4. \uc774 \uc0c1\ud669\uc740 6\uc6d4 \ud68c\uc758\ub97c \uc55e\ub454 ECB\ub97c \ub9e4\uc6b0 \uc5b4\ub824\uc6b4 \uc120\ud0dd\uc73c\ub85c \ubab0\uc544\ub123\uace0 \uc788\ub2e4.<\/p>\n

\uc2dc\uc7a5\uc740 6\uc6d4 25bp \uc778\uc0c1\uc744 \uc0ac\uc2e4\uc0c1 \ud655\uc2e4\ud55c \uacbd\ub85c\ub85c \ubcf4\uace0 \uc788\uc73c\uba70, \uc774\ub294 \uac00\uc7a5 \ubb34\ub09c\ud55c \uc120\ud0dd\uc73c\ub85c \ubcf4\uc778\ub2e4. \uc774\uc5d0 \ub530\ub77c \ub2e8\uae30\uae08\ub9ac \uc120\ubb3c(\ubbf8\ub798\uc758 \ub2e8\uae30\uae08\ub9ac\ub97c \uc0ac\uace0\ud30c\ub294 \ud30c\uc0dd\uc0c1\ud488) \uc911 \u20acSTR(\uc720\ub85c \ub2e8\uae30\uae08\ub9ac \uc9c0\ud45c: \uc720\ub85c\uc874\uc758 \ub300\ud45c \ub2e8\uae30 \uae30\uc900\uae08\ub9ac) \uc5f0\ub3d9 \uc0c1\ud488\uc5d0\uc11c \uc774\ub7f0 \ucd5c\uc18c \uc778\uc0c1 \uc2dc\ub098\ub9ac\uc624\ub97c \ubc18\uc601\ud55c \ud3ec\uc9c0\uc158\uc774 \ub098\ud0c0\ub0a0 \uc218 \uc788\ub2e4. \ub2e4\ub9cc \ud575\uc2ec\uc740 \uae30\ubcf8 \uc2dc\ub098\ub9ac\uc624\ubcf4\ub2e4, \uc804\ub9dd\ubcf4\ub2e4 \uae08\ub9ac\uac00 \ub354 \uc624\ub97c \uc218 \uc788\ub294 \u2018\uc0c1\ubc29 \uc704\ud5d8\u2019(\uc608\uc0c1\ubcf4\ub2e4 \ub354 \uac15\ud55c \uae34\ucd95 \uac00\ub2a5\uc131)\uc5d0 \uc788\ub2e4.<\/p>\n

\uc2dc\uc7a5 \uc804\ub7b5\uacfc \uc704\ud5d8 \uc2dc\ub098\ub9ac\uc624<\/h3>\n

\uac00\uc7a5 \ud070 \uc704\ud5d8\uc740 \ud398\ub974\uc2dc\uc544\ub9cc\uc774\ub2e4. \ube0c\ub80c\ud2b8\uc720(\uad6d\uc81c \uc720\uac00 \uae30\uc900) \uac00\uaca9\uc740 \uc9c0\ub09c \ud55c \ub2ec\uac04 \ubc30\ub7f4\ub2f9 110\ub2ec\ub7ec \uc704\uc5d0\uc11c \ubc84\ud17c\ub2e4. \ud638\ub974\ubb34\uc988 \ud574\ud611\uc744 \ud1b5\uacfc\ud558\ub294 \uc720\uc870\uc120\uc758 \ud574\uc0c1\uc6b4\uc1a1 \ubcf4\ud5d8\ub8cc\ub3c4 4\uc6d4 \uc774\ud6c4 50% \ub118\uac8c \uae09\ub4f1\ud588\ub2e4. \uc774\ub294 \uc2e4\uc81c\ub85c \uc9c0\ucd9c\ud574\uc57c \ud558\ub294 \ube44\uc6a9\uc73c\ub85c, \uc55e\uc73c\ub85c \uc218\uac1c\uc6d4\uac04 \ubb3c\uac00 \uc9c0\ud45c\uc5d0 \uc9c1\uc811 \ubc18\uc601\ub420 \uac00\ub2a5\uc131\uc774 \ub192\ub2e4.<\/p>\n

\ubd88\ud655\uc2e4\uc131\uc774 \ud070 \ub9cc\ud07c, \uae08\ub9ac\uc2a4\uc651 \uc635\uc158(\uc2a4\uc651\uc158: \uae08\ub9ac\uc2a4\uc651 \uacc4\uc57d\uc744 \uc815\ud574\uc9c4 \uc870\uac74\uc73c\ub85c \uccb4\uacb0\ud560 \uc218 \uc788\ub294 \u2018\uad8c\ub9ac\u2019\ub97c \uc0ac\uace0\ud30c\ub294 \uc635\uc158)\uc774 \uc8fc\ubaa9\ubc1b\uc744 \uc218 \uc788\ub2e4. \uc2a4\uc651(\uae08\ub9ac\uc2a4\uc651: \ubcc0\ub3d9\uae08\ub9ac\uc640 \uace0\uc815\uae08\ub9ac\ub97c \uc11c\ub85c \uad50\ud658\ud558\ub294 \uacc4\uc57d)\uc744 \ud65c\uc6a9\ud55c \uc635\uc158\uc740 ECB\uac00 \uc2dc\uc7a5 \uc608\uc0c1\ubcf4\ub2e4 \ub354 \uacf5\uaca9\uc801\uc73c\ub85c \uc5ec\ub7ec \ucc28\ub840 \uae08\ub9ac\ub97c \uc62c\ub9b4 \uacbd\uc6b0 \uc218\uc775 \uae30\ud68c\ub97c \uc81c\uacf5\ud55c\ub2e4. \uc5d0\ub108\uc9c0 \uac00\uaca9\uc774 \ub0b4\ub824\uc624\uc9c0 \uc54a\uc73c\uba74 \u2018\ub9e4\ud30c\uc801\u2019(\ubb3c\uac00\ub97c \uc7a1\uae30 \uc704\ud574 \uae08\ub9ac \uc778\uc0c1\uc5d0 \uc801\uadf9\uc801\uc778) \uae5c\uc9dd \ub300\uc751\uc774 \ub098\uc62c \uc218 \uc788\ub2e4\ub294 \uc810\uc744 \uace0\ub824\ud560 \ub54c, \uc635\uc158 \ube44\uc6a9(\ud504\ub9ac\ubbf8\uc5c4)\ub3c4 \uc544\uc9c1\uc740 \uacfc\ub3c4\ud558\uc9c0 \uc54a\ub2e4\ub294 \ud3c9\uac00\uac00 \uac00\ub2a5\ud558\ub2e4.<\/p>\n

\uc720\ub85c\ud654 \ubc29\ud5a5\uc131\ub3c4 \ub69c\ub837\ud558\uc9c0 \uc54a\uc544 \uc678\ud658 \uc635\uc158(FX \uc635\uc158: \ud658\uc728 \ubcc0\ub3d9\uc5d0 \ubca0\ud305\ud558\uac70\ub098 \uc704\ud5d8\uc744 \uc904\uc774\uae30 \uc704\ud55c \uc635\uc158) \uae30\ud68c\uac00 \uc0dd\uae38 \uc218 \uc788\ub2e4. \uc77c\ubc18\uc801\uc73c\ub85c \uae08\ub9ac \uc778\uc0c1\uc740 \ud1b5\ud654\uc5d0 \uac15\uc138 \uc694\uc778\uc774\uc9c0\ub9cc, \uacbd\uae30 \ub454\ud654\uac00 EUR\/USD(\uc720\ub85c\/\ub2ec\ub7ec \ud658\uc728) \uc0c1\uc2b9 \ud3ed\uc744 \uc81c\ud55c\ud560 \uc218 \uc788\ub2e4. \ub530\ub77c\uc11c \ub2e8\ubc29\ud5a5 \ubca0\ud305\ubcf4\ub2e4\ub294 \ubc15\uc2a4\uad8c \uc6c0\uc9c1\uc784(\uc881\uc740 \ubc94\uc704\uc5d0\uc11c \ub4f1\ub77d)\uc774\ub098 \ubcc0\ub3d9\uc131 \ud655\ub300(\uac00\uaca9 \ucd9c\ub801\uc784 \uc99d\uac00)\uc5d0\uc11c \uc774\uc775\uc744 \ub178\ub9ac\ub294 \uac70\ub798\uac00 \ub354 \uc801\ud569\ud560 \uc218 \uc788\ub2e4.<\/p>\n

2025\ub144 \ub9d0 \uc815\ucc45 \ub3d9\uacb0(\uc815\ucc45\uc744 \uba48\ucd94\uace0 \uae08\ub9ac\ub97c \uc62c\ub9ac\uc9c0 \uc54a\ub358 \uc2dc\uae30)\uc744 \ub3cc\uc544\ubcf4\uba74, \uc911\uc559\uc740\ud589\uc740 \uacbd\uae30 \ub454\ud654 \uad6d\uba74\uc5d0\uc11c \ucd94\uac00 \uae34\ucd95(\uae08\ub9ac \uc778\uc0c1 \ub4f1)\uc744 \ub9dd\uc124\uc774\ub294 \uacbd\ud5a5\uc774 \uc788\ub2e4. \uc774\ub7f0 \uacfc\uac70\uc758 \uc2e0\uc911\ud568 \ub54c\ubb38\uc5d0 \uc774\ubc88 \uc5d0\ub108\uc9c0 \uac00\uaca9 \ucda9\uaca9\uc774 \uc815\ucc45\ub2f9\uad6d\uc5d0 \ub354 \uc5b4\ub824\uc6b4 \uacfc\uc81c\uac00 \ub418\uace0 \uc788\ub2e4. \uc774 \ub54c\ubb38\uc5d0 VSTOXX(\uc720\ub85c\uc874 \uc8fc\uc2dd\uc2dc\uc7a5 \ubcc0\ub3d9\uc131 \uc9c0\uc218: \ud5a5\ud6c4 \ubcc0\ub3d9\uc131 \uae30\ub300\ub97c \ubcf4\uc5ec\uc8fc\ub294 \uc9c0\ud45c) \uac19\uc740 \ubcc0\ub3d9\uc131 \uc9c0\ud45c\uac00 \uc810\uc9c4\uc801\uc73c\ub85c \uc624\ub974\uace0 \uc788\uc5b4 \uc8fc\uc2dc\ud560 \ud544\uc694\uac00 \uc788\ub2e4.<\/p>\n","protected":false},"excerpt":{"rendered":"

PMI \ud558\ub77d\uc5d0 \uc720\ub85c\uc874 2\ubd84\uae30 \uc131\uc7a5 \uacbd\uace0\ub4f1, \ud22c\uc785\ube44\uc6a9\u00b7\uc5d0\ub108\uc9c0\ubc1c \ubb3c\uac00 \uc555\ub825\uc740 \uc7ac\uc810\ud654. ECB 6\uc6d4 25bp \uc778\uc0c1 \uc720\ub825\ud558\ub098 \ud638\ub974\ubb34\uc988 \ubcc0\uc218\ub85c \ucd94\uac00 \uae34\ucd95 \u2018\uc0c1\ubc29 \ub9ac\uc2a4\ud06c\u2019 \ucee4\uc838, \uc635\uc158\u00b7\ubcc0\ub3d9\uc131 \uc804\ub7b5 \ubd80\uc0c1.<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-47230","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/47230","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/comments?post=47230"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/posts\/47230\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/media?parent=47230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/categories?post=47230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/kr-asia\/wp-json\/wp\/v2\/tags?post=47230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}