MNI China Daily Summary: Friday, February 3

MNI BRIEF: Professional Forecasters Up Inflation Outlook: ECB

MNI BRIEF: China To Fully Reopen Borders With HK and Macau

EZ/UK Bond Supply Calendar: UK Medium APF Sales on Monday

Core PPI Records First Negative M/M Since May '20

MNI: EUROZONE DEC PPI +1.1% M/M, +24.6% Y/Y

(RPT)MNI INTERVIEW: BOC In One And Done Zone - Chamber

Rpt- MNI INTERVIEW: BOC Losses May Dent Inflation Fight- Tombe

MNI BRIEF: EU Sees Statement After UK-EU Talks This Afternoon

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BRAZIL

Industrial Production Largely Inline with Consensus

MEXICO

Consumer Confidence Comes in Ahead of Expectations

BONDS

Germany is now leading lower

EMERGING MARKETS

CEEMEA FX Price Signal Summary - USDTRY Path Of Least Resistance Remains Up

US EURODLR FUTURES

Post-LIBOR Settle Update: 3M Climbs to New 14Y High

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SONIA FIX - 03/02/23

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Sharp Kneejerk Lower For Greenback Following US Data

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  • US OCT. PRODUCER PRICES RISE 8.0% Y/Y; EST. 8.3% (BBG)
  • US OCT. PRODUCER PRICES RISE 0.2% M/M; EST. 0.4% (BBG)
  • USD: Sharp kneejerk reaction lower for the greenback following the data with the likes of USDMXN and USDZAR pushing to recent lows and aided by the supportive price action for major equity indices.
  • USDZAR briefly tested below trendline support at 17.1587, drawn from the Apr 13 low. A sustained break of this line would strengthen bearish conditions, paving the way for a move to 16.9818 initially, the Sep 13 low.
  • USDMXN also traded to a fresh low of 19.2509, continuing the optimism for the Peso. Moving average studies remain in a bear mode position, highlighting the current sentiment. 19.4136, the May 30 low, has been breached which opens 19.1560, the Mar 3 2020 low ahead of 19.0000.
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  • US OCT. PRODUCER PRICES RISE 8.0% Y/Y; EST. 8.3% (BBG)
  • US OCT. PRODUCER PRICES RISE 0.2% M/M; EST. 0.4% (BBG)
  • USD: Sharp kneejerk reaction lower for the greenback following the data with the likes of USDMXN and USDZAR pushing to recent lows and aided by the supportive price action for major equity indices.
  • USDZAR briefly tested below trendline support at 17.1587, drawn from the Apr 13 low. A sustained break of this line would strengthen bearish conditions, paving the way for a move to 16.9818 initially, the Sep 13 low.
  • USDMXN also traded to a fresh low of 19.2509, continuing the optimism for the Peso. Moving average studies remain in a bear mode position, highlighting the current sentiment. 19.4136, the May 30 low, has been breached which opens 19.1560, the Mar 3 2020 low ahead of 19.0000.