Mixed overnight
- China, Hong Kong, Taiwan, South Korea markets are closed all week for Chinese New Year
- Australia’s ASX up (+0.10%)
- India’s Nifty 50 flat (0.00%)
- Japan’s Nikkei softer (-0.03%)
- European bourses also mixed with DAX, Eurostoxx, and UK in slight negative territory
- In the US $DXY is flat with indices slightly softer
Overnight Data
- Germany Feb GfK Consumer Confidence -33.9 vs. expected -33.0 (Jan -37.6)
- Germany’s January flash manufacturing PMI 47.0 vs 47.9 expected
- France Jan Business Confidence 102 as expected (Dec 103)
- Japan Manufacturing PMI unchanged at 48.9
Japan’s factory activity extends declined for third straight
month – PMI - Japan Services PMI rises to 52.4 vs. Dec 51.1
- UK Services PMI Flash Actual 48 (Forecast 49.5, Previous 49.9) Mfg PMI Flash Actual 46.7 (Forecast 45.5, Previous 45.3) Composite PMI Flash Actual 47.8 (Forecast 48.8, Previous 49.0)
- Australia Jan prov. Manufacturing PMI slips to 49.8 vs. Dec 50.2 Jan prov. Services PMI rebounds to 48.3 vs. Dec 47.3
US DATA TODAY
COMMODITY HEADLINES OVERNIGHT
Metals
Indian gold prices hit record high, curtail demand -dealers
Gold edges higher as dollar weakens; traders await U.S. data
Energy
India’s crude imports hit 5-month high in December on cheap
Russian supply
Commodities set to outperform other asset classes again in 2023, says Goldman
Freeport LNG says Texas plant repairs completed, seeks to restart some operations
