MNI China Daily Summary: Wednesday, February 5

MNI: UK FINAL JAN SRVCS PMI 50.8 (FLASH: 51.2); DEC 51.1

MNI: EUROZONE JAN FINAL SRVCS PMI 51.3 (FLASH: 51.4); DEC 51.6

MNI BRIEF: China Spring Festival Trips Up 5.9% Y/Y

MNI: PBOC Net Drains CNY716.5 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1693 Weds; -1.18% Y/Y

MNI: EUROZONE DEC PPI +0.4% M/M, +0% Y/Y

MNI: GERMANY FINAL JAN SRVCS PMI 52.5 (FLASH: 52.5); DEC 51.2

MNI: FRANCE FINAL JAN SRVCS PMI 48.2 (FLASH: 48.9); DEC 49.3

GERMANY: Economy Ministry Lowers 2025 Growth Forecast As Expected

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

GERMANY: Kukies Considers Potential Non-Implementation Of 2024 Suppl' Budget

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SOUTH KOREA: Upside CPI Surprise Takes Pressure off BOK. 

SOUTH KOREA
EM BulletBulletSouth KoreaAPACEmerging Market News
  • Korea’s January CPI data surprised to the upside with both the year on year and month on month data beating expectations, and higher than December.
  • Korea’s CPI YoY for January printed at +2.2%, up from +1.9% in December and ahead of market expectations of +2.1%.
  • Korea’s CPI MoM for January was at +0.7%, up from +0.4% in December and ahead of market expectations of +0.5%.
  • Transport, Housing/Utilities (energy) and recreation were saw the largest increases whilst health was the largest decliner.
  • The Central Bank in Korea, the BOK meets on February 25 and has managed market expectations in terms of expecting a cut.
  • Minutes from last month’s BOK meeting show voting members hold real concerns as to the weakening of the currency as the reason for the unexpected pause. 

  • Today’s data however may cause the BOK to pause again for February pending a better outcome for CPI.

     

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  • Korea’s January CPI data surprised to the upside with both the year on year and month on month data beating expectations, and higher than December.
  • Korea’s CPI YoY for January printed at +2.2%, up from +1.9% in December and ahead of market expectations of +2.1%.
  • Korea’s CPI MoM for January was at +0.7%, up from +0.4% in December and ahead of market expectations of +0.5%.
  • Transport, Housing/Utilities (energy) and recreation were saw the largest increases whilst health was the largest decliner.
  • The Central Bank in Korea, the BOK meets on February 25 and has managed market expectations in terms of expecting a cut.
  • Minutes from last month’s BOK meeting show voting members hold real concerns as to the weakening of the currency as the reason for the unexpected pause. 

  • Today’s data however may cause the BOK to pause again for February pending a better outcome for CPI.

     

Keep reading...Show less