Market Comment | Quiet session ahead of trade developments
Published on Tuesday, January 14, 2020
Market Comment | Quiet session ahead of trade developments
Financial markets were broadly steady, although some caution lingers as investors wait for U.S.-China trade agreement progress. Concerning the macroeconomic data, U.S. inflation increased less than expected, whereas China’s trade balance rose in December.
Key points
- Key points:
- US CPI increased less than expected to 2.3% YoY, while core inflation remained steady at 2.3%.
- Sovereign yields inched down across the board boosted by lower-than-expected growth of U.S. inflation.
- China’s trade balance surplus unexpectedly rose but largely reflecting base and price effects .
- The CNY extended its appreciation below the CNYUSD 7 threshold.
- Equity markets remained broadly unchanged.
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