- Washington and Moscow's top diplomats will meet Friday in Geneva - over Ukraine
- Bank of England rate hike on 3rd February (Reuters poll)
- European Central Bank President Lagarde is speaking Friday
- China's SAFE says fluctuations of the yuan play a key role as an automatic stabiliser
- 'Sources' say the PBOC will lower rates today, 21 January, on Standing Lending Facility
- ANZ on the upcoming RBA meeting - 'QT' signal
- JP Morgan says "don't hold your breath" waiting for a Fed digital coin
- Yen, USD up. Oil, yields, equities down
- PBOC sets USD/ CNY mid-point today at 6.3492 (vs. estimate at 6.3488)
- China will allow power prices to move in a wider band
- Morgan Stanley still like long AUD/NZD
- "Fed is likely to push back"
- GfK Consumer Confidence for January -19
- BOJ (December) meeting minutes (link to full text)
- Japan CPI data for December, headline 0.8% y/y,core +0.5%, core-core -0.7%
- Robinhood news (rolling out crypto wallets) does not appear to be enough for Bitcoin
- RBA highly likely to halt its bond purchase program at its coming meeting
- Serbia has revoked Rio Tinto's lithium exploration licences
- China's (state) financial press says mortgage loan approval is being accelerated
- UK foreign minister warns Putin not to invade Ukraine
- Robinhood to begin rolling out crypto Wallets to 1,000 customers - today
- Trade ideas thread - Friday 21 January 2022
- New Zealand data - Business PMI (December) 53.7 vs. prior 50.36)
- US Treas Sec Yellen says if the pandemic can be controlled inflation will ease this year
- Stocks give up gains and close at session lows for the 2nd consecutive day
Yields on US bonds fell during the session, with the 10-year yield back to its lowest in a week after the surges earlier this week.
After the big drop in the US on Thursday equities continued lower here today. Regional stocks fell. US equity index futures dropped, extending those Thursday US declines.
Also falling was the price of oil, both WTI and Brent dropped more than 2%.
In the FX space USD/JPY slid as haven flows supported the yen (and CHF). AUD, NZD, CAD, NZD all fell against the dollar. EUR/USD fell also, initially, but has subsequently staged a comeback, outperforming to be up 30 or so points from its early-session lows.
There was little in the way of fresh news. We did get Japanese CPI data (for December) which fell once energy was excluded (see bullets above).
Crypto declined, leaders BTC and ETH dropping over the course of the session. As I post BTC/USD is barely off its lows. The move today takes BTC/USD to more than 40% below its all-time high.
