- Unexpected cut to key lending rates in China; Move seen as opening the door to more monetary easing actions ahead.

- US markets closed for holiday.


- China Q4 GDP Q/Q: 1.6% v 1.2%e; Y/Y: 4.0% v 3.6%e; GDP YTD Y/Y: 8.1% v 8.0%e.

- China Dec Retail Sales Y/Y: 1.7% v 3.8%e.

- China Dec Industrial Production Y/Y: 4.3% v 3.8%e.

- PBOC cut the rate on it policy loans by 10 bps for its 1st such cut since Mar 2020. PBoC cut its 1-Year Medium-Term Lending Facility Rate (MLF) by 10bps to 2.85% and also cut the 7-Day Reverse Repo Rate by 10bps to 2.10% (Move seen as opening the door to more monetary easing actions ahead).

- North Korea launched 2 unidentified projectile towards Sea of Japan, Japan coast guard say they could be a ballistic missiles (Note: 5th such launch from NK this month).


- Japan govt said to seek stricter coronavirus measures in Tokyo and surrounding areas within the week, after Tokyo hospital bed occupancy hit 19.3%. Tokyo prefecture would ask for stronger coronavirus restrictions.


- UK PM Johnson said to be announcing plans to remove all existing coronavirus restrictions at an upcoming review.

- PM Johnson said to be planning a mass clear out of staff and a slew of populist polices. Conservative Party Chairman Dowden rejected calls for Johnson to step down as prime minister. Stressed that PM needs to take further steps after gatherings and address the culture that allowed them (Note: Number of letters of no confidence submitted to the backbench 1922 Committee said to have risen to 35 which is 19 short of what is needed to trigger a vote).

- Fitch affirmed Greece sovereign rating at 'BB' rating; Outlook revised to Positive from Stable.

- Canadian ratings agency DBRS affirmed Netherlands AAA rating, stable trend.

- Canadian ratings agency DBRS raised Ireland to AA (low), with Stable trend.

Speakers/Fixed income/FX/Commodities/Erratum


Indices [Stoxx600 +0.55% at 483.80, FTSE +0.70% at 7,595.64, DAX +0.33% at 15,935.75, CAC-40 +0.50% at 7,185.63, IBEX-35 +0.45% at 8,846.06, FTSE MIB +0.27% at 27,618.00, SMI +0.57% at 12,597.54, S&P 500 Futures +0.13%].

Market Focal Points/Key Themes: European indices open generally higher; among the sectors trending higher are materials and financials; while sectors among those trending lower are consumer discretionary and real estate; Unilever offers to acquire GlaxoSmithKline’s consumer business; Belgian government takes stake in Ageas; US closed for holiday.


- Financials: Credit Suisse [CSGN.CH] -1.5% (new Chairman).

- Healthcare: GlaxoSmithKline [GSK.UK] +4%, Unilever [UNA.NL] -6% (Unilever confirms approach for GSK's unit sale).

- Industrials: Renault [RNO.FR] +1% (deliveries), Stadler Rail [SRAIL.CH] +6% (large contract).


- EU said to have kept trade duties on China Russia. US steel which would target silicon-electrical steel. New duties follow request from European industry to maintain duties in place since 2016.

- Chia President Xi stated that the world had found itself in a new period of turbulence and transformation. Global economy continued to face constraints with inflation risks rising.

- Saudi Oil Min Abdulaziz: unconcerned about rise in oil prices.

- Explosions said to have occurred in 3 petroleum tanker trucks in Abu Dhabi's Mussafah; drones likely behind explosion. Yemen Houthi rebels said to claim attack on UAE.

- Iraq Oil Min Jabbar: Aiming to begin LNG imports nu 2023.

Currencies/Fixed income

- USD was slightly firmer after a rough path being suffered last week as US yields remain higher despite the soft Retail Sales data from Friday. Overall the Fed tightening moves appeared to be largely priced in for the time being.

- GBP was steady despite the political uncertainty surrounding calls for PM Johnson to resign. UK inflation data on Wednesday could help extend a month-long rally in sterling.

- USD/JPY back at the mid 114 area ahead of Tuesday’s BOJ rate decision.

Economic data

- (NO) Norway Dec Trade Balance (NOK): 106.0B v 77.6B prior (record surplus).

- (DK) Denmark Dec PPI M/M: 3.9% v 6.1% prior; Y/Y: 33.0% v 29.1% prior.

- (CZ) Czech Dec PPI Industrial M/M: -0.1% v +0.5%e; Y/Y: 13.2% v 13.9%e.

- (TR) Turkey Dec Central Gov't Budget Balance (TRY): -145.7B v +32.0B prior.

- (CH) Swiss weekly Total Sight Deposits (CHF): 724.5B v 724.6B prior; Domestic Sight Deposits: 655.1B v 650.6B prior.

- (IT) Italy Dec Final CPI M/M: 0.4% v 0.4% prelim; Y/Y: 3.9% v 3.9% prelim; CPI Index (ex-tobacco): 106.2 v 105.7.

- (IT) Italy Dec Final CPI EU Harmonized M/M: 0.5% v 0.5% prelim; Y/Y: 4.2% v 4.2% prelim.

Fixed income issuance

- (NO) Norway sold NOK2.0B vs. NOK2.0B indicated in 6-month Bills; Avg Yield: 0.72% v 0.58% prior; Bid-to-cover: 2.05x v 1.36x prior.

- (SK) Slovakia Debt Agency (Ardal) sold total €M in 2024, 2032, 2036 and 2047 bonds.

Looking ahead

- (SK) Slovakia Debt Agency (Ardal) to sell 2024, 2032, 2036 and 2047 bonds.

- (NG) Nigeria Dec CPI Y/Y: 14.9%e v 15.4% prior.

- 05:25 (EU) Daily ECB Liquidity Stats.

- 05:30 ((DE) Germany to sell €3.0B in 12-month BuBill.

- 05:30 (NL) Netherlands Debt Agency (DSTA) to sell €1.0-3.0B in 3-month and 6-month bills.

- Sells € vs. €0.5-1.5B indicated range in 3-month bills; Avg Yield: % v -0.710% prior; Bid-to-cover: x v 1.72x prior.

- 06:00 (IE) Ireland Nov Trade Balance: No est v €6.2B prior.

- 06:00 (BR) Brazil Jan FGV Inflation IGP-10 M/M: +1.6%e v -0.1% prior.

- 06:25 (BR) Brazil Central Bank Weekly Economists Survey.

- 06:30 (IL) Israel to sell bonds.

- 06:45 (US) Daily Libor Fixing.

- 07:00 (IN) India announces details of upcoming bond sale (held on Fridays).

- 07:00 (BR) Brazil Nov Economic Activity Index (Monthly GDP) M/M: +0.7%e v -0.4% prior; Y/Y: +0.5%e v -1.5% prior.

- 08:00 (PL) Poland Dec CPI Core M/M: 0.4%e v 0.4% prior; Y/Y: 5.2%e v 4.7% prior.

- 08:00 (RU) Russia Nov Trade Balance: $20.5Be v $19.8B prior; Export: $47.3Be v $46.6B prior; Imports: $26.8Be v $26.8B prior.

- 08:00 (UK) Daily Baltic Dry Bulk Index.

- 08:00 (ES) Spain Debt Agency (Tesoro) size announcement on upcoming issuance (bill and bonds).

- 08:30 (CA) Canada Nov Int'l Securities Transactions (CAD): No est v 23.9B prior.

- 08:30 (CA) Canada Nov Manufacturing Sales M/M: 3.0%e v 4.3% prior.

- 09:00 (CA) Canada Dec Existing Home Sales M/M: No est v 0.6% prior.

- 09:00 (FR) France Debt Agency (AFT) to sell €5.6-6.8B in 3-month, 6-month and 12-month bills.

- 10:00 (CO) Colombia Nov Trade Balance: -$1.6Be v -$1.5B prior; Total Imports: $6.2Be v $5.8B prior.

- 10:00 (CO) Colombia Nov Manufacturing Production Y/Y: +3.0e v -2.7% prior; Industrial Production Y/Y: No est v 9.6% prior.

- 10:00 (CO) Colombia Nov Retail Sales Y/Y: 10.6%e v 14.2% prior.

- 10:30 (CA) Bank of Canada (BoC) Q4 Overall Business Outlook Survey: No est v 4.7 prior; Outlook Future Sales: No est v 9 prior.

- 15:00 (NZ) New Zealand Dec House Sales Y/Y: No est v -18.0% prior.

- 16:00 (NZ) New Zealand NZIER Think Tank Business Opinion Survey.

- 17:30 (AU) Australia ANZ Roy Morgan Weekly Consumer Confidence Index: No est v 106.0 prior.

- 23:30 (JP) Japan Nov Final Industrial Production M/M: No est v 7.2% prelim; Y/Y: N est v 5.4% prelim.

- 23:30 (JP) Japan Nov Capacity Utilization M/M: No est v 6.2% prior.

- 23:30 (HK) Hong Kong to sell 3-month, 6-month and 12-month Bills.

- 22:30 (JP) Japan to sell 6-Month Bills.

- (JP) BOJ Interest Rate Decision: Expected to leave Interest Rate on Excess Reserves (IOER) unchanged at -0.10% and maintain Yield Target (YCC) at 0.00%.

- BOJ Quarterly Outlook for Economic Activity and Prices.

All information provided by Trade The News (a product of Trade The News, Inc. "referred to as TTN hereafter") is for informational purposes only. Information provided is not meant as investment advice nor is it a recommendation to Buy or Sell securities. Although information is taken from sources deemed reliable, no guarantees or assurances can be made to the accuracy of any information provided. 1. Information can be inaccurate and/or incomplete 2. Information can be mistakenly re-released or be delayed, 3. Information may be incorrect, misread, misinterpreted or misunderstood 4. Human error is a business risk you are willing to assume 5. Technology can crash or be interrupted without notice 6. Trading decisions are the responsibility of traders, not those providing additional information. Trade The News is not liable (financial and/or non-financial) for any losses that may arise from any information provided by TTN. Trading securities involves a high degree of risk, and financial losses can and do occur on a regular basis and are part of the risk of trading and investing.

Feed news Join Telegram

Recommended Content

Recommended Content

Editors’ Picks

AUD/USD: Bulls firming to test critical 0.71 the figure that guards a much stronger correction

AUD/USD: Bulls firming to test critical 0.71 the figure that guards a much stronger correction

There is a battle going on between the bulls and bears surrounding the Aussie and the US dollar. Bulls are testing the neckline near the current levels at 0.71 the figure. A break here will leave the bulls in good stead for a break of resistance around 0.7135.


EUR/USD eyes to regain 1.0700 post-Fed Minutes, US GDP in focus

EUR/USD eyes to regain 1.0700 post-Fed Minutes, US GDP in focus

EUR/USD stays on the way to reverse the pullback from a monthly high, picking up bids to 1.0685 during early Thursday morning in Asia. Second reading of Q1 2022 US GDP, Jobless Claims and housing data to decorate calendar amid multiple holidays in Europe.


Gold defends bounce off weekly support near $1,850 ahead of US GDP

Gold defends bounce off weekly support near $1,850 ahead of US GDP

Gold  treads water around $1,855, defending the previous day’s corrective pullback from a one-week-old support line during Thursday’s Asian session as sluggish markets and a lack of major data/events seem to restrict the metal’s immediate moves.

Gold News

What needs to happen for Axie Infinity price to recover

What needs to happen for Axie Infinity price to recover

Axie Infinity price displays reasons to believe in further momentum to the upside. Traders should approach the digital asset with relative caution, looking for one more fake-out before the rally occurs. Axie Infinity price appears to be unfolding as an extended impulse wave down.

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!