Japan -1.14%. Japan’s sharp wholesale price rise in December – recap (& pressure on the BOJ).
Japan December PPI +0.5% m/m (expected +0.3%) and +10.2% y/y (expected +9.5%).
China +1.09%. China’s home prices fell 1.5% in December nationwide on an annualized basis, Refinitiv calculations of data from the National Bureau of Statistics showed.
Separately, the People’s Bank of China on Friday hinted at forthcoming changes to its “three red lines” for developers.
Over the weekend, China reported a surge of nearly 60,000 Covid deaths since dropping restrictions last month.
Hong Kong -0.41%.
Australia +0.82%. Australia private survey monthly inflation 0.2% m/m (prior +1.0%) & 5.9% y/y (prior 5.9%).
India -0.03%.
Friday on Wall Street, major stock indices post the 2nd consecutive positive week. The Nasdaq closed above its 100 day MA at 11057.78 with a close for the day and week at 11079.17. The S&P index closed the week up 2.67% and like the Nasdaq, is closing above a key daily MA level.
Declining inflation expectations from consumers is coinciding with expectations that the Federal Reserve is likely to step down the level of interest rate increases in a few weeks, and end them altogether soon.
No Fed speakers on the docket for US holiday Monday – but some big guns later in the week.
Week Ahead: Highlights include US retail sales, China data, ECB minutes, UK data.
Bitcoin continued its streak of gains for the thirteenth consecutive day as it passed $20,000, a key psychological level, for the first time in over two months.
Oil prices dipped in early Asian trade on Monday, but held close to the highest levels since the start of the year on optimism that China’s reopening will lift fuel demand at the world’s top crude importer.
Brent crude fell 36 cents, or 0.4%, to $84.92 a barrel by 0116 GMT while U.S. West Texas Intermediate crude was at $79.65 a barrel, down 21 cents, or 0.3%, amid thin trade during a U.S. public holiday.
U.S. futures mixed. Dow Jones +0.05%; S&P 500 +0.03%; Nasdaq -0.08%.