Mostly Negative-Pretty Quiet Overnight

• Hong Kong: Hang Seng closes DOWN -0.92%
• China CSI 300 -0.22%
• Taiwan KOSPI  +0.62%
• India Nifty 50 – 0.74%
• Australia ASX +0.03%
• Japan Nikkei+0.21%
• All European bourses broadly in negative territory so far today
• US indices in in negative territory this morning with the exception of YM slightly positive in pre-market, USD +0.26%

Overnight News/Data

• China PBoC Sets Yuan Mid-Point At 6.8808 / Dlr VS Last Close 6.8729
• Japan BoJ Board Member Takata: Must Maintain Current Massive Monetary Easing
• Fitch Sees Recession Coming In Germany, Italy Later This Year
• ECB’s Lagarde: Case For 50Bps Rate Hike This Month Still On The Table -Inflation Is Still Too High
• Eurozone CPI Estimate (Y/Y) Feb: 8.5% (exp 8.3%; prev 8.6%) – Eurozone CPI Core (Y/Y) Feb P: 5.6% (exp 5.3%; prev 5.3%) – Eurozone CPI (M/M) Feb P: 0.8% (exp 0.5%; prev -0.2%)
• Eurozone Unemployment Rate Jan: 6.6% (exp 6.6%; prev 6.6%)
• Italy EU Harmonized CPI (Y/Y) Feb: 9.9% (exp 9.5%; prev 10.7%) – Italy EU Harmonized CPI (M/M) Feb: 0.2% (exp -0.3%; prev -1.3%) – Italy CPI (Y/Y) Feb: 8.8% (exp 8.8%; prev 10.0%) – Italy CPI (M/M) Feb: 0.3% (prev 0.1%)

US DATA TODAY

COMMODITIES HEADLINES OVERNIGHT

Metals

Gold Price Rally Might be Short-Lived With the 2-Year Treasury Yield Nearing 5%

Copper slips on firm dollar ahead of key China meeting

Energy

Amid a wave of gas-to-coal switching during the global energy crisis, CO2 emissions from coal grew by 1.6% […], far exceeding the last decade’s average growth rate, and reaching a new all-time high of almost 15.5 Gt.-IEA

Global energy-related CO2 emissions edged up to record high in 2022 – IEA

Petrobras posts Q4 profit up 38%

China’s March imports of Russian oil may hit record – shiptracking data

The US Senate has voted to throw out a rule that makes it easier for retirement advisers to consider climate change when making investment decisions, setting up a veto by President Joe Biden

Deutsche Bank tightens coal finance policy but not oil and gas

Oil gains on China growth, but European inflation weighs