Today marks the start of a torrent of economic data releases that will last until the end of the week. Australia kicked things off early this morning, revealing lower than expected CPI and inflation data across the board. Year-on-year inflation came in at 4.1% compared to expectations of 4.3%, CPI for December also beating consensus with 3.4% versus 3.7%. Lower inflation figures pave the way for the Reserve Bank of Australia to lower interest rates, although the general sentiment is that it is still too early for such a shift.
All eyes then turned to China, announcing a manufacturing PMI of 49.2 for January. Although the figure met expectations, it does indicate a contraction in activity, in contrast with non-manufacturing PMI which came in at 50.7 compared to 50.6 expected. The numbers come from the Chinese National Bureau of Statistics, which historically differ from the private Caixin PMI data that are to be released tomorrow. The rally in the Hang Seng seen late last week was unable to sustain any momentum, the index falling 2.32% over yesterday’s session.
Later in the day we have a whole slew of European data to keep the newswires busy, before moving on to today’s main event: the Federal Reserve interest rate decision. The announcement is unlikely to provide any concrete time frames for rate cuts, but rest assured every single word will be painstakingly analysed for clues by traders desperate for answers. The DXY has remained clustered round the 103.5 level for the past two weeks now, seemingly unwilling to leave its comfort zone. Potentially choppy trading conditions over the next few days.
Amaran Risiko : Perdagangan derivatif dan produk berleveraj mempunyai tahap risiko yang tinggi.
BUKA AKAUN
