•  Asian stocks rise with crude amid China optimism before Chinese Lunar New Year
•  Japan’s Nikkei (+1.35%) ends higher on U.S. futures gains, weak yen reversing losses from yesterday
• China stocks rise as officials say worst in COVID battle is over; Shanghai (+0.76%) Hang Seng (+1.82%)
• Australian ASX (+0.51%) marks third straight weekly gain on resources boost
• Indian Nifty 50 (-0.44%) shares volatile as gains in financials offset rate worries
• South Korean shares rise for a third straight week in a row
• European bourses are firmer, Euro Stoxx 50 +0.5%, but are currently still set to end the week with modest losses

TOP STORIES

Japan: Consumer inflation hits fresh 41-yr high, Dec National CPI 4.0% y/y

China: China says COVID has peaked as holiday rush gets into full swing

Germany: Dec PPI -0.4% m/m 21.6% y/y vs. expected -1.2%/20.7%

UK: UK Retail Sales & GfK Consumer Confidence misses serves as a timely reminder that UK economic headwinds remain considerable

US DATA TODAY

*Note: This is the last Fed speaker before the Fed blackout period starts ahead of FOMC

COMMODITY HEADLINES OVERNIGHT

Metals

Gold eases but set for fifth straight weekly rise on Fed slowdown bets

China’s 2022 gold output climbs, consumption weakens

Copper set for weekly gain on China demand, but recession fears linger

Copper: Canadian miner Hudbay says protesters damaged Peru unit

Energy

Saudi Arabia stays top crude supplier to China in 2022, Russian barrels surge

Russia, Pakistan reach conceptual agreements on supplying oil, petroleum products

Meloni Heads to Algeria as Italy Seeks to Bolster Gas Security

Chinese oil trader Unipec sweeps up cheap crude from Abu Dhabi, Brazil, U.S. eyes demand recovery

Golar LNG unwinds of majority of TTF hedges of 2023 and 2024 locking in approximately $140 million of TTF linked EBITDA