Strong Markets Overnight
- Hong Kong: Hang Seng closes up +1.60%
- China CSI 300 +1.34%
- Taiwan KOSPI -0.09%
- India Nifty 50 +0.12%
- Australia ASX +0.36%
- Japan Nikkei +0.96%
- European bourses up across the board
- US indices pretty in positive territory across the board, helped weakness in USD -0.40%
Overnight News/Data
- GermanyEU-harmonised January consumer prices rise 9.2% y/y
Jan prov. CPI 1.0% m/m 8.7% y/y vs. expected 0.9%/8.9%
Jan prov. HICP 0.5% m/m 9.2% y/y vs. expected 1.3%/10.0%
Downward trend in inflation expected to continue – Commerzbank
Core inflation forecast to remain high, economists say - UK housing market hit by widest prices falls since 2009 – RICS
Jan RICS House Price Balance -47 vs. expected -45 (Dec -42) - Turkey Erdogan acknowledges earthquake relief problems as death toll passes 15,000
Erdogan faces crescendo of criticism over response
Lack of capabilities’ in war-hit Syria quake zone too
– Death toll in Turkey alone rises past 12,000
– International aid campaign gathers pace
- EU/Energy – France in new row with Germany and Spain over nuclear-derived hydrogen
France wants EU to recognise nuclear-derived hydrogen as clean
Paris says Germany and Spain had committed to support it
Berlin and Madrid say no such promises were made
Spat is delaying EU renewables legislation, threatens pipeline
US DATA TODAY
COMMODITY HEADLINES OVERNIGHT
Metals
Peru mines power on despite protests, though shutdown risk looms
Fortescue Metals preparing to cut up to 1,000 jobs – The Australian
Anglo American to buy 9.9% stake in Canada Nickel
Gold outlook weak as markets assess Fed policymakers’ comments
Copper prices rebound on hopes of Chinese demand recovery
Energy
Russia and China formalize deal on gas supplies via Far Eastern
route – Interfax
India’s fuel demand slips in January from nine-month peak
US natgas futures slide 7% on rising output, lower LNG exports
Oil sales at Brazil’s Petrobras up slightly in fourth quarter
BP Azerbaijan declares force majeure on crude loadings from Turkey’s Ceyhan port
