- NZD traders - heads up for the GDT dairy auction coming up Tuesday 04 January 2022
- Here are the new voters on the Federal Open Market Committee in 2022
- China to tighten data security requirements
- Citi Global Head of Commodities Strategy sees oil prices falling in 2022 - forecasts
- BOJ KUroda cites inflation in Europe and the US and Omicron uncertainties
- China Caixin /Markit Manufacturing PMI for December 50.9 (expected 50.0, prior 49.9)
- ICYMI - Indonesia has banned coal exports in January (biggest customers includes China)
- PBOC sets USD/ CNY central rate at 6.3794 (vs. estimate at 6.3805)
- National Australia Bank survey finds significant labour shortages
- Jibun Bank/Markit Manufacturing PMI (final) for December 54.3
- China Securities Journal says banks may boost Q1 lending
- China cash liquidity demand estimated above US$700bn in January, up around 20% from 2021
- US - Port of Oakland to assist agricultural exporters
- Opec+ ministers meet today, Tuesday 04 January 2022
- China - Partial lockdown in Ningbo is impacting operations a the world's largest port
- Australia – Markit Manufacturing PMI for December 57.7 (vs. 59.2 in November)
- Former Federal Reserve employee likely to be nominated for Fed Board seat
- Trade ideas thread - Tuesday 04 January 2022
- Inflation watch - IKEA is raising prices globally
USD/JPY rose to its highest since January of 2017, carrying on its end of 2021 strength (yen weakness) further during the first Japanese session for 2022 (it was a Japanese holiday on Monday). With the impact of Omicron now being seen as not as bad it could have been and demand for growth assets rising the attractiveness of 'haven' assets, such as yen, has waned.
With other major currency rates against the USD fairly steady yen crosses gained also.
The data point of focus for the session was the Caixin China Manufacturing PMI. It came in at an improved, and above expectations, 50.9. This augers well for steady manufacturing output in China and comes despite sporadic lockdowns, supply chain disruptions and chip shortages. Japan’s manufacturing PMI was solid also.
China's Digital Yuan App (the pilot version), operated by the People’s Bank of China launched today in Android and IOS app stores in China.
EUR/JPY:
