Aussie Inflation Report
The Australian Inflation Report was firmer in December that the prior month, however that has done little to help the Aussie as it trades lower to start the new week, as are the rest of risk products. The details of the release are as follows:
- TD Securities Inflation (MoM) -Actual:0.5% Prior:-0.1%
- TD Securities Inflation (YoY) – Actual: 2.4% Prior:2.1%
USDSGD Bottom of Wedge
Sitting at the bottom of the long-term wedge below, it will be interesting to see if the USD can reclaim its bid in the market before the support is broken.
South Korean Import/Export Prices Index
The South Korean Export Price Index rose in December, while Import Prices fell from the prior month as the Won weakened mildly in December. The details of the release are as follows:
- Export Price Index (MoM) – Actual:0.3% Prior:-2.3%
- Import Price Index (YoY) – Actual:2.5% Prior:5.4%
- Export Price Index (MoM) – Actual:0.2% Prior:-1.6%
- Import Price Index (YoY) – Actual:7.1% Prior:11.8%
China Sets Yuan Reference Rate @ 6.3201
South Korean 7-Day Repo Rate
The Bank of Korea’s key interest rate remains unchanged at 3.25%.
Treasury Comments on China Adviser
A China Adviser said that Geithner said Fed can’t do QE3, as reported by MNI (Mkt News Int’l.) However a Treasury spokesman commented that Geithner didn’t tell China the Fed is out of ammunition.
South Korean FDI
The South Korean 4th quarter Foreign Direct Investment grew on a year over year basis by 4.8% ever as the steam has certainly come out of Asia and younger developing economies to end 2011.
USDSGD Holds Trendline for 8th day in January
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