OANDA Senior Market Analyst Kelvin Wong joins Johnny Hart to discuss the week's key economic data and events. It's the start of another terrible week for Chinese and Hong Kong stock markets. The Hang Seng China Enterprise Index continued its sharp decline, recording a daily decline of -2.44%, approaching the lowest level in almost 20 years. Market participants appear to be growing impatient with Chinese policymakers regarding the current pace and scale of economic stimulus measures to address the country's growing deflationary risk spiral.
A preview of two major monetary policy decisions. The Bank of Japan (BoJ) is expected to keep short-term negative interest rates unchanged at -0.1% for the time being on Tuesday, January 23rd, but is likely to lay the foundations for lifting negative interest rates in April through forward guidance. . The European Central Bank (ECB) may not lower interest rates at its board meeting on Thursday, January 25, after ECB President Lagarde suggested in Davos that the first rate cut could come in the summer of 2024. is high. US PCE inflation rate hike (December) will be announced on Friday, January 26th, but continued slowing inflation in core PCE, especially in the services sector, could sustain the Fed's dovish axis narrative Highly sexual.
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