Mixed Markets
- China and Hong Kong markets closed for Chinese New Year
- South Korea +1.39% after reopening from New Year Holiday
- Japan Nikkei +0.09%
- Australia ASX +0.47%
- India Nifty 50 -1.25%
- European bourses in negative territory across the board with the exception of Spain
- USD is slightly up +0.11% benefiting from the decline in sentiment in Europe
- US indices are also under pressure this morning
Overnight data/headlines
- UK Dec PPI Output -0.8% m/m 14.7% y/y; core Output PPI +0.1% m/m
Dec PPI Input -1.1% m/m 16.5% y/y - Australia Inflation surges further in Q4, more rate hikes loom
AUD jumps as shock inflation data sends yields higher
Dec CPI 8.45 y/y vs. expected 7.7%
Q4 CPI 1.9% m/m 7.8% y/y vs. expected 1.6%/7.5% - Singapore Dec CPI 0.2% m/m 6.5% y/y vs. expected 6.6% y/y
Dec Core CPI 5.1% y/yvs. expected 5.0%
Canada BOC rate decision today
The Bank of Canada is expected to hike a further 25 bps to 4.50%, though markets are only pricing an 80% probability, and with all eyes on whether it signals a pause, given that it was already quite conditional about hiking today at its previous meeting
US DATA TODAY
COMMODITY HEADLINES OVERNIGHT
Metals
Copper edges higher in China holiday-thinned trade
Gold retreats as traders lock in profits before U.S. data
Energy
Halliburton tops Wall Street estimates as equipment remains fully booked
China’s diesel exports rebound easing global shortage: Kemp
US oil & gas M&A hit 17-year low; big firms dominate deals-report
Norway offers up to 92 new oil and gas exploration blocks
Argentina pumps record shale oil as Vaca Muerta takes off
Mexico’s newest oil refinery to begin crude processing in July -energy minister
Brazil’s Petrobras hikes gasoline prices ahead of board vote on Lula’s CEO pick
Brazil’s Petrobras cancels sale of fertilizer plant
US issues license to Trinidad & Tobago to develop Venezuela offshore gas field
OPEC+ panel unlikely to tweak oil policy at Feb. 1 meeting, sources say
US natgas drops 6% on milder forecasts, lengthy Freeport restart
