New Zealand ANZ Commodity Price Index (MoM) Dec: -1.8% (prev -5.6%)
PBoC Fixes Yuan Reference Rate At 6.5628 (prev 6.5626)
Onshore Yuan At A Discount To Offshore Yuan
Asia stocks wary as China concerns remain, oil drops – RTRS
Crude oil prices fall as much as 20 percent since beginning of the year – RTRS
Sentiment remains negative across the markets, with Asian stock indices again falling overnight. The Nikkei declined 1.30 % after the open and later extended losses to more than 2 % on the day. In FX, the safe havens JPY and CHF strengthened in Asia, while the Aussie Dollar was the worst performing currency.
USD/JPY reached the 118.00 level just ahead of the Tokyo open, but then came under selling pressure and declined to a low of 117.40. Meanwhile, the USD/CAD continues to be very well bid amid fresh lows in oil prices. The pair rallied to 1.4240 yesterday, a fresh multi-year high. In Asia, it fell back to 1.4205, but made it back to 1.4230 after the Tokyo open. With WTI likely to break below $30 soon, USD/CAD momentum will remain strong.
After a rather quiet day with little data/events, today should be more interesting with the release of UK industrial & manufacturing data at 09:30 GMT, followed by a speech from BoJ Governor Kuroda and BoE Govenor Carney at 10:30 and 14:15 GMT respectively.
09:30 GMT – UK Industrial Production
09:30 GMT – UK Manufacturing Production
10:30 GMT – Bank of Japan Governor Kuroda speaks
14:15 GMT – Bank of England Governor Carney speaks