- South Korea to scrap a number of local stock market regulations, attract foreign investors
- European Central Bank President Lagarde is speaking again on Tuesday, 24 January
- US confronts China with evidence suggesting some SEOs assist Russia war effort in Ukraine
- US Weighs Cancellation of Next SPR Sale
- Suntory CEO wants a clear roadmap from the next BOJ Governor on ending YCC
- BoE speech today - where the next systemic financial crisis is coming from
- How long before US recession risk comes back into market cross hairs? LEI dropped again.
- FBI says North Korea-related hacker groups behind $100m US crypto heist
- Australian official inflation data is due mid-week - preview.
- Japan preliminary January PMI: Manufacturing 48.9 (prior 48.9 also), Services 52.4 (51.1)
- Australia December business confidence improves to -1 (from -4 previously)
- ICYMI - Argentina and Brazil are discussing a common currency. USD cited as the issue.
- ICYMI - many Asian markets closed for a holiday again today. China, Singapore, Hong Kong.
- OIL ICYMI - US energy Secretary says Biden would veto House Republican bill on oil reserve
- ICYMI - Monday brought a pile of ECB speakers, all jumping on the hawkish bandwagon
- Société Générale says Brent oil needs to reclaim $90 to solidify uptrend
- Reserve Bank of Australia meeting coming up on February 7: "to hike the cash rate by 25bp"
- Australia weekly consumer confidence survey still deeply pessimistic at 85.9 (prior 87.7)
- Forexlive Americas FX news wrap: US stocks rally. Dollar is mixed.
- Australian January preliminary PMI, manufacturing 49.8 (prior 50.2)
- New Zealand December services PMI: 52.1 (prior 53.7)
- Trade ideas thread - Tuesday, 24 January 2023
- Back to back gains in the S&P and Nasdaq send the pairs to the highest level in 6 weeks
In Asia Tuesday markets remained closed in:
- China
- Hong Kong
- Singapore
for Lunar New Year holidays. The full list of the extended Asian timezone holidays can be found here:
The absence of key markets meant thin liquidity trade in the region.
News flow was limited. We did get preliminary PMIs for January from Australia and Japan. These tend to be have only a very limited impact, if any at all, on forex rates.
Australian business confidence data showed a small improvement in January, while business conditions dropped lower, to still solid levels historically though, January came in at 12 vs. a long run average around 5 (see bullet above for more detail on the NAB report).
The USD is mixed on the session and in mainly small ranges.
USD/JPY has dribbled lower, retracing some of its Monday upmove.
Asian equity markets:
Japan’s Nikkei 225 +1.4%
Australia’s S&P/ASX 200 +0.4%
Japan's Nikkei index has recovered its losses from the BOJ shock announcement in December:
