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Better-Than-Expected Growth In China, Colombia Retail Sales & Production Data

LATAM
  • MNI (Beijing) - China's economy grew at a better-than-expected 3% pace in 2022, though it fell short of the government's 5.5% target and marked one of the lowest growth rates in decades as pandemic control measures weighed heavily on activity, data released by the National Bureau of Statistics on Tuesday showed.
  • Press speculation indicating that the Bank of Japan will conduct a review of the side effects of its ultra-loose policy settings, coupled with the shrouding of trust in the Bank’s communication channels after last month’s surprise YCC tweak, keeps tomorrow’s meeting heavily in focus.
    • Markets have run JPY implied vols considerably higher Tuesday as traders pre-position for the meeting early Wednesday in Asia-Pac hours.
  • The USD is making furtive gains amid lower equity markets with earnings season resuming today. Fed's Williams appears at an event at the New York Fed, although it remains to be seen whether he'll comment on the economy.
  • In LatAm, Colombian retail sales, industrial & manufacturing production headline the docket.

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