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Indices from Asia-Pacific traded mixed today. Nikkei gained 1.2%, S&P/ASX 200 traded flat, Nifty 50 moved 0.5% higher and Kospi plunged 1%
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In spite of a beat in Chinese activity data for December and GDP data for 2022, indices from China traded mostly lower. Hang Seng was top laggard with a 1.1% drop
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DAX futures point to a more or less flat opening of the European cash session
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China reported a GDP growth of 2.9% YoY for Q4 2022 (exp. 1.8% YoY). GDP growth in full-2022 reached 3%
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Chinese industrial production increased 1.3% YoY in December (exp. 0.2% YoY), retail sales were 1.8% lower (exp. -8.5% YoY) while urban investments climbed 5.1% YoY (exp. 5.0% YoY)
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According to Chinese National Bureau of Statistics, Chinese population dropped by around 850 thousand last year, marking the first population fall since 1961
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BoE Governor Bailey said that Bank of England booked a profit of 3.8 billion GBP on emergency bond purchases it made after former PM Truss announced her fiscal plan last year
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JPY is one of the worst performing G10 currencies after 10-year Japanese yield rose above upper limit of 0.5% and BoJ was forced once again to stepped into the market and purchase bonds
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Japanese government will announce nominees to for the next BoJ Governor on Friday
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Cryptocurrencies are trading mixed with major coins pulling back. Bitcoin drops 0.5%, Ethereum trades 1.2% lower and Litecoin dips 0.4%
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Oil is trading around 0.5% higher while US natural gas prices rise over 3%
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Precious metals pull back with silver dropping 0.8% and gold trading 0.4% lower
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NZD and CHF are the best performing major currencies while JPY and GBP lag the most
USDJPY is trading higher for another day in a row after BoJ made another intervention to bring yields down. Nevertheless, downtrend structure on the pair looks clear and unless a higher high is painted, outlook remains bearish. Source: xStation5
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