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SILVER TECHS

Rally Accelerates

WTI TECHS

(H2) Trend Conditions Remain Bullish

GOLD TECHS

Firmer Within The Bull Channel

MNI BRIEF: Malaysia CB Cites Recovery Momentum In Rates Hold

MNI (Sydney)
SYDNEY (MNI)

The central bank kept its benchmark at 1.75%.

MARKET NEWS TOP STORIES

MNI INTERVIEW: Australia's Jobless Rate Challenges Dovish RBA

December jobs data shows unemployment near an all-time low, an ABS official said.

MNI China Press Digest Jan 20: RRR, E-Platform Rules, Property

MNI picks keys stories from today's China press

MNI BRIEF: Japan's Export Pace Slows In December, Autos +17.5%

Automobile exports recover in December as supply-chain shortages continue to ease.

MNI BNM Preview - January 2022: BNM To Hold, Hikes To Come Later This Year

Bank Negara Malaysia are set to maintain their Overnight Policy Rate at 1.75% to keep supporting the economic recovery, with policy normalisation likely to begin later in the year.

Political Risk

Voting Rights Bill Collapses In Senate

President Joe Biden's effort to push the voting rights bill through the Senate falls flat as Democratic dissenters Manchin and Sinema join the GOP in voting against Majority Leader Schumer's proposal to change procedural rules and allow a simple majority vote on the legislation. President Biden had earlier virtually conceded defeat and suggested that the Democrats may need to break up the bill to get at least "pieces" of it through the Congress.

Yonhap Sources Say North Korea Is Preparing Military Parade

Yonhap cites unnamed South Korean military sources as saying that North Korea may be preparing a military parade, which might be held as soon as on February 16 to commemorate the 80th birthday of late Kim Jong Il.

  • Note that North Korea previously used military parades to showcase new weapons. During a parade in October 2020 the regime shocked observers by rolling out its largest-ever ICBM.

Presidential Candidates Locked In Neck-And-Neck Race Again

This week's presidential poll by Gallup Korea put Yoon Suk-yeol of the main opposition People Power Party (PPP) on 36.1% and Lee Jae-myung of the ruling Democratic Party on 34.9%, as the gap between them shrank to less than the margin of error.

  • A slew of surveys released earlier in the week painted a similar picture. Kantar and Embrain Public polls both showed Yoon leading by differences within the margin of error, while a Realmeter poll was the only one to indicate Yoon holding a fairly significant advantage.
  • While Lee remains the front-runner according to betting markets, the gap between the two main candidates has shrank quite notably, as illustrated in the chart below.

Fig. 1: Who Will Be Elected President Of South Korea In 2022?

Source: PredictIt

Pyongyang Suggests Lifting Self-Imposed Moratorium On ICBM, Nuclear Tests

News wires carry comments from North Korea's state media KCNA, who said that Supreme Leader Kim Jong-un has ordered ruling party Politburo to "promptly examine the issue of restarting all temporarily suspended activities." The message has been interpreted as referring to North Korea's self-imposed moratorium on nuclear and intercontinental ballistic missile (ICBM) tests, which dates back to Kim's talks with former U.S. President Donald Trump.

  • The meeting of North Korea's ruling party leadership was held on Wednesday, after the regime conducted four missile tests this month alone. The KCNA said that participants deplored the "hostile policy and military threat by the U.S." and pledged preparations for a "long-term confrontation." They noted that joint U.S.-South Korean military drills, the deployment of U.S. stategic weapons in the region, and fresh sanctions on the North Korean regime had "reached a danger line that cannot be overlooked anymore."

MARKET NEWS REAL-TIME COVERAGE

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