- Ukrainian envoy to Japan says full-scale war is very difficult to expect
- Samsung semiconductor manufacturing facilities in Xian, China, return to normal operation
- Moody's analysts are optimistic on Asia-Pacific economic recovery despite risks
- China's onshore yuan reference rate to a near 4 year high, TWI even stronger
- BOJ Summary of Opinions recap - inflation inched up but super-loose policy still needed
- The RBA meet on Tuesday 1 February: "will surely capitulate on its rates outlook"
- ICYMI - US warns of targetting sanctions personally against Putin if Ukraine invaded
- PBOC sets USD/ CNY central rate at 6.3246 (vs. estimate at 6.3253)
- Federal Reserve and Bank of Canada meetings Wednesday 26 January 2022 - key times
- 2 things to watch at the FOMC meeting
- BOJ Summary of opinions (December meeting)
- Japan PPI for December 2021 1.1% y/y (vs. expected 1.1%, prior 1.1% y/y)
- US House Democrats have released their version of the China competitiveness bill
- China financial media urges buy the dip
- Ahead of the FOMC - research note highlights "strong downside risks to January payrolls"
- Trade ideas thread - Wednesday 26 January 2022
- Private oil survey data shows draw in headline crude oil inventory
The imminent Federal Open Market Committee statement and Powell’s news conference kept a lid on forex volatility during the Asian morning. Net change across major FX rates is tiny. USD/CAD did drop back towards its late Tuesday America’s afternoon low. There is a Bank of Canada policy statement and Governor press conference due later Wednesday also.
News and data flow was light. The Bank of Japan published its January meeting ‘Summary of Opinions’ – the highlights were a discussion of slightly higher inflation but members noted CPI was unlikely to get to target any time soon and thus ultra-easy policy would remain in place.
US equity index futures rallied during Globex trade while regional equities here are mainly up just a little.
The reference rate for the onshore yuan hit nearly a four-year high for CNY against the USD, while the CNY TWI hit its highest in around six and a half years.
Markets were closed in Australia today for a national holiday. As mentioned above, today is FOMC (and BoC) day. Previews linked in here:
EUR little changed: