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)
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
