Heads up for Chinese data to be published over the weekend - official PMIs for December

Coming up on Saturday, 31 December 2022 are the December PMIs from China's National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP).

The December results are likely to show the ill-effects of surging COVID-19 Covid-19 Covid-19 or the novel Coronavirus is a pandemic that has yielded wide ranging economic turmoil and volatility across financial markets in 2020. The first cases of Covid-19 were reported in Wuhan, China in late 2019. Since then, the virus has expanded globally, infecting millions worldwide. The virus has been extremely controversial, namely in the United States, which became heavily politicized during the 2020 presidential election. The Covid-19 pandemic is completely unprecedented in modern ti Covid-19 or the novel Coronavirus is a pandemic that has yielded wide ranging economic turmoil and volatility across financial markets in 2020. The first cases of Covid-19 were reported in Wuhan, China in late 2019. Since then, the virus has expanded globally, infecting millions worldwide. The virus has been extremely controversial, namely in the United States, which became heavily politicized during the 2020 presidential election. The Covid-19 pandemic is completely unprecedented in modern ti Read this Term cases in China as the country embraced reopening.

• Composite prior was 47.1

On those 'expected' results, it's a small sample survey only. I expect both results will remain in contraction.

Also, while you are here, Asian trading this coming Monday, January 2, will be neglibile. It's the New Year observance holiday in all major forex centres and China.

• Japan, Singapore, Hong Kong, Australia and New Zealand markets are all closed.