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Market News Topics
January 01, 2018 12:36 GMT
Asia-Pacific Week Ahead
JAPAN
Japanese markets are closed from Monday through Wednesday for the New
Year's holidays. Trading will resume Thursday.
Bank of Japan
No major events are scheduled at the central bank until Jan. 15, when BOJ
branch managers gather in Tokyo for a one-day quarterly meeting and report on
regional economic conditions ahead of the bank's next policy meeting on Jan.
22-23.
Japan Data
No major economic indicator releases are scheduled for this week.
On Friday, Jan. 12, the Ministry of Finance will release its data on weekly
international transactions in securities for two periods, from Dec. 24 to Dec.
30 and from Dec. 31 to Jan. 6.
Japanese Government Bonds
The BOJ announced last week that it will leave the frequency of its JGB
purchases in January unchanged from December, indicating there is no need to
guide any particular bond yield higher or lower. The BOJ also left unchanged its
purchase plans for each JGB maturity zone. The decision eased concern among some
market participants that the central bank might reduce the scale of its JGB
purchases, which would have led to higher yields.
The Ministry of Finance plans to sell Y149.9 trillion of government bonds
in fiscal 2018 starting on April 1, down Y4.1 trillion from the Y154.0 trillion
estimate for the current fiscal year. The MOF will reduce the issuance of 1-year
Treasury discount bills as well as 2-, 5-, 10-. 30- and 40-year government
bonds.
The volatility in JGBs may increase this week, depending on the price
action in the U.S. Treasuries market during the Japanese holidays, but the BOJ's
bond-buying operations are expected to keep JGB yields from rising sharply. Last
Friday the 10-year JGB yield rose to 0.060%, the highest level since Dec. 21, on
position squaring at the end of the year.
Thursday: BOJ outright purchase operations for JGBs with remaining life of
1 to 3 years, 3 to 5 years and 5 to 10 years expected.
Friday: The Ministry of Finance to auction Y4.4 trillion of three-months
Treasury discount bills.
CHINA
Few releases are expected this week.
Data
Tuesday, 9:45 am CST (0145 GMT): The private Caixin manufacturing PMI,
compiled by IHS Markit, is due to be released. The gauge stood at 50.8 in
November, the weakest level in five months, falling from 51.0 in October. The
index remained above the 50 break-even mark for the fifth consecutive month.
Thursday, 9:45 am CST (0145 GMT): Caixin magazine is due to release its
December services PMI. The headline index rose to 51.9 in November from 51.2 in
October, the second consecutive increase.
Sunday, Jan. 7, time unclear: The People's Bank of China is due to release
data on foreign exchange reserves. They increased $10.06 billion in November to
$3.119 trillion, the largest gain since last October and significantly higher
than the $703 million rise in October. Reserves have increased 10 months in a
rose since January last year.
AUSTRALIA
A few monthly data releases will mark the start of the year, with the
highlights being international trade data for November and the home value index
for December.
Tuesday, 9:30 am AEDT (2230 GMT Monday): The AI Group publishes its
performance of manufacturing index for December, which is likely to show another
month of expansion (last at 57.3 points).
Tuesday, 10:00 am AEDT (2300 GMT Monday): CoreLogic publishes its home
value index for December. The index could show a small fall m/m after a flat
outcome in November, with Sydney likely to record another decline.
Thursday, 9:30 am AEDT (2230 GMT): The AI Group publishes its performance
of services index (last 51.7 points). The market will focus on how sectors
related to household spending perform.
Friday, 11:30 am AEDT (0030 GMT): The Australian Bureau of Statistics
publishes trade data for November. The trade balance is expected to show a
surplus of around A$500 million compared with the small A$105 million surplus in
October.
RBA
No major data or event is due from the RBA. The RBA's next board meeting
and rate decision with be on February 6.
NEW ZEALAND
It's a truncated week with Tuesday also a holiday to observe New Year. No
major data release is due.
RBNZ
No major data or event is due from RBNZ.
To read the full story
Close
Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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