Chinese Lunar New Year Holiday
Very Quiet Overnight
- China, Hong Kong, Taiwan, South Korean markets are closed
- Japan’s Nikkei up slightly (+0.12%) ; BoJ minutes underline December tweak as genuinely technical, but highlight alarm bells at Finance Ministry
- Australia’s ASX +0.23%
- India’s Nifty 50 +0.50%
- European bourses slightly up
- US markets are flat, USD flat
BoJ Minutes
- Most BOJ policymakers cautious on policy shift in December minutes
- One member actually against tweaking policy target
- Govt rep stressed need for caution – risk to overseas growth, Japan impact
- Nothing in minutes to suggest BOJ moving towards easier policy stance
Japan
- Fin Min Suzuki warns of severe finances as BOJ struggles to contain yields
- Japan’s finances intensified severity to an unprecedented point
- Rounds of extra budget, and stimulus measures aggravate finances
- Economic revival comes first before fiscal reform in long run
- Parliament debate begin, all eyes on new BOJ governor nominee
US DATA TODAY
(none basically)
![](https://placeyourtrades.com/wp-content/uploads/2023/01/image-53.png)
COMMODITY HEADLINES OVERNIGHT
Metals
Gold edges up on softer dollar, Fed slowdown hopes
Copper firms on China demand hopes; Lunar New Year break curbs trading
Glencore copper mine in Peru suspends operations after another attack
Energy
US natgas futures rise 9% in early trade Monday
Petroecuador workers end protest, no impacts on production