- China - another area of Henan province placed in lockdown today
- US December 2021 inflation data due on Wednesday 12 January 2022 - preview
- China's 'zero covid' policy is now called 'dynamic clearing'
- RBC says the Bank of Canada needs to hike rates rapidly and multiple times
- (A little) More on the China coronavirus case count for the day
- UBS China outlook
- China December CPI +1.5% y/y (vs. expected 1.8%) & PPI 10.3% y/y (vs. expected 11.1%)
- PBOC sets USD/ CNY mid-point today at 6.3658 (vs. estimate at 6.3655)
- BOJ Gov Kuroda says CPI is likely to gradually increase as a trend
- China has reported 166 local coronavirus cases for the day (from 110 a day earlier)
- Federal Reserve speakers coming up Wednesday 12 January 2022 - Kashkari
- Australian national job vacancies rose by 18.5% in the 3 months to November
- New Zealand – ANZ Commodity Price index for December -0.2% m/m (vs. prior 2.8%)
- Coinbase says account issues may impact trading
- Mayor of Washington declares a Public Health Emergency
- Australia's second-most populous state to fine people who do not log positive RAT tests
- Reuters Tankan - manufacturing index slips to 17 in January from 22 in December
- Morgan Stanley expect the Bank of Canada to hike rates this month
- Fed's Powell says close to finalizing revamp of the Bank's ethics rules
- Private oil survey data shows draw in crude oil inventory
- Trade ideas thread - Wednesday 12 January 2022
- France says still a long way from reviving the nuke deal with Iran
It was a steady sideways day for most of major FX with small ranges and not a lot of net change. GBP, EUR, NZD, CAD are all a few tics up against the US dollar while USD/CHF and USD/JPY are more or less unchanged.
The focus was once again on China today, both news and data flow.
December inflation data, CPI and PPI, from China showed lower than expected and lower than November for both. Chinese stocks generally gained on the session (as I post), lower price pressures should translate into more breathing space for stimulus, should the PBOC and other authorities in China go that path (which seems likely).
On the news front it was a day of rising COVID-19 cases again and also a new lockdown was announced related to the outbreak in Henan province (see bullets above).
Still to come today, US CPI data for December – preview above.
AUD waiting game for the US CPI:
