AUD And JPY Bottom Of The Pile In Early Asia

A busy session for data in Asia as markets head into month-end.

• AUD is heavy, AUD/USD last down 16 pips at 0.7667. Worries over the efficacy of the AstraZeneca vaccine are cited, while lower iron ore also weighs. Data showed PPI rose slipped 0.1% Y/Y in Q4, but the pace of decline moderated from -0.4% previously. Private sector credit rose above estimates.
• NZD having a smoother ride so far, last just above neutral levels at 0.7172. NZ Treasury released its financial statements for five months through Nov 30. Budget deficit was NZ$4.34bn vs. NZ$6.22bn projected in the Half-Year Fiscal Update, while core tax revenue topped forecasts. The RBNZ also made its second taper announcement of this month, saying it will reduce bond purchases by NZ$80m to $NZ570m next month.
• JPY is weaker, USD/JPY is up 24 pips at 104.47, Data showed industrial production fell more than expected, -3.2% Y/Y in December vs -3.1% estimated, the second straight decline. The jobless rate did drop 0.1ppt to 2.9%. The BoJ Summary of Opinions was also released but didn't make any ripples.
• The PBOC fixed USD/CNY at 6.4709, 38 pips above the 6.4671 estimate. The sell side estimates could have been skewed today given the large trading range for the yuan, which has strengthened heading into month-end. USD/CNH last trades at 6.4725. The bank injected a net CNY 98bn via OMOs after draining around CNY 325bn so far this week.
• Focus Friday turns to French, German and Canadian GDP releases and US personal income/spending figures for December. The first Fed speakers since Wednesday's FOMC decision are due, with Kaplan and Daly both on the docket.