South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
Japan Services Producer Prices Rise 3.2% in June, Supporting BOJ Rate Hike Expectations 
Japan Economy Minister Downplays Inflation Risks Despite BOJ Warning 
Brazil Cuts Selic Rate to 14% as Inflation Eases but Risks Persist 
Singapore Central Bank’s Exchange Rate Policy Explained: Why MAS Uses the S$NEER Instead of Interest Rates 
ECB Expected to Hold Rates as Middle East Tensions Keep September Hike in Focus 
Australia Inflation Cools as Core CPI Misses Forecasts, Easing RBA Rate Hike Pressure 
Lots of economic data and events scheduled for today, and some with high volatility risks associated.
Data released so far:
- United Kingdom: GFK consumer confidence index came at -14 in January.
- Australia: Australia’s terms of trade improved with export price index up 4.4 percent q/q in Q4, and import price index rising 0.5 percent.
- China: NBS manufacturing PMI came at 49.5 in January, and non-manufacturing PMI came at 54.7.
- Japan: Housing starts up 2.1 percent y/y in December.
Upcoming:
- Germany: December retail sales report will be released at 7:00 GMT, and followed by unemployment report at 8:55 GMT.
- France: CPI inflation report will be released at 7:45 GMT.
- Spain: HICP inflation report will be released at 8:00 GMT, along with Q4 GDP, and followed by current account balance at 9:00 GMT.
- Italy: December unemployment report will be released at 9:00 GMT. Along with Q4 GDP.
- Eurozone: Q4 GDP report will be published at 10:00 GMT, along with the December unemployment report.
- United States: Weekly jobless claims report will be released at 12:30 GMT, followed by Chicago PMI report 14:45 GMT. EIA will release weekly natural gas inventory report at 15:30 GMT.
- Japan: December unemployment report will be released at 23:30 GMT.
- Auction: the U.S. will auction 1-month bills at 16:30 GMT.
