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The week ahead, w/c 21 January 2019

Chris Scicluna
Emily Nicol
Mantas Vanagas
  • While China's Q4 GDP report looked soft, Asian equity markets started the week on the front foot, perhaps buoyed by the better tone of December's activity numbers. Today brings Theresa May's latest statement on Brexit, which seems bound to be inconsequential, while later this week the BoJ and ECB will pay lip service to rising downside risks while leaving policy unchanged. 

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Morning comment: Weak Japanese CPI

Chris Scicluna
Emily Nicol
Mantas Vanagas
  • Asian markets maintained the positive market tone seen in the US yesterday, supported by decent US data and later reports of a possible constructive initiative in the US-China trade negotiations. Data-wise, however, the latest Japanese inflation figures disappointed, with a further significant retreat in price pressures towards year-end.   

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Morning comment: Euro area CPI, UK confidence vote & house prices

Chris Scicluna
Mantas Vanagas
  • Asian markets had a mixed performance today with little domestic news. As Theresa May predictably won yesterday's confidence vote in Parliament, focus today will remain on Brexit discussions. Data-wise, final euro area inflation for December are due. 

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Morning comment: May humiliation, UK & German CPI, Japanese orders

Chris Scicluna
Emily Nicol
Mantas Vanagas
  • Despite a positive tone on Wall Street, and docvish comments from FOMC members and Draghi, Asian markets were mixed today, with Japanese indices not helped by a disappointing machine orders report. Sterling, however, is stable, as markets interpret yesterday's thumping defeat for Theresa May as increasing the likelihood of a softer Brexit or no Brexit at all. 

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Morning comment: Brexit, German GDP & Draghi

Chris Scicluna
Emily Nicol
Mantas Vanagas
  • A better mood to Asian markets with optimism on Chinese stimulus subsequently supported by new lending data. Looking ahead, German GDP data and Draghi's first speech of the year will act as a warm-up for the Commons menaingful vote on Brexit.  

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