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JAPAN SERVICES PPI FALLS FOR SECOND MONTH

Japan's services producer prices declined for the second straight month in November, the Bank of Japan said Thursday.

The services producer price index dropped 0.6 percent annually, following a 0.5 percent decrease a month ago.

On a monthly basis, services producer price inflation eased to 0.1 percent from 0.2 percent in October.

Excluding international transportation, services producer prices were down 0.4 percent versus a 0.3 percent fall in the previous month. Month-on-month, prices gained 0.2 percent, the same rate as posted in October.

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JAPAN'S HOUSING STARTS FALL AT SLOWER PACE

Japan's housing starts continued to decline in November albeit at a slower pace, data from the Ministry of Land, Infrastructure, Transport and Tourism showed on Friday.

Housing starts were down 3.7 percent on year, following October's 8.3 percent decline. This was also better than the expected decrease of 4.9 percent.

Annualized housing starts rose to 820,000 in November from 802,000 in the previous month.

Further, data showed that construction orders received by the big 50 contractors decreased 4.7 percent on a yearly basis, bigger than the 0.1 percent fall posted in October.

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JAPAN INDUSTRIAL PRODUCTION FLAT ON MONTH IN NOVEMBER

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Industrial production in Japan was unchanged on a seasonally adjusted basis in November, the Ministry of Economy, Trade and Industry said on Monday.

That missed expectations for an increase of 1.2 percent following the 4.0 percent gain in October.

On a yearly basis, industrial production sank 3.4 percent, matching forecasts following the 3.0 percent drop in the previous month.

Upon the release of the data, the METI maintained its assessment of industrial production, saying that it is picking up.

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SINGAPORE TRADE DATA DUE ON TUESDAY

Singapore will on Tuesday release November numbers for imports, exports and trade balance, highlighting a light day for Asia-Pacific economic activity.

In October, imports were down 7.6 percent on year and exports sank an annual 8.0 percent, while producer prices tumbled 9.6 percent on year.

The Philippines will see November figures for producer prices; in October, prices were down 3.3 percent on year.

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SOUTH KOREA RETAIL SALES SINK 1.0% IN NOVEMBER

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The value of retail sales in South Korea was down a seasonally adjusted 1.0 percent on month in November, Statistics Korea said on Wednesday.

That follows the 0.9 percent contraction in the previous month.

On a yearly basis, retail sales skidded 1.5 percent after dropping 0.2 percent a month earlier.

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CHINA'S MANUFACTURING SECTOR GROWTH MODERATES IN DECEMBER

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China's manufacturing sector growth moderated at the end of the year, survey data from the National Bureau of Statistics showed Thursday.

The official manufacturing Purchasing Managers' Index fell to 51.9 from 52.1 in November.

The score was forecast to drop marginally to 52.0. However, a reading above 50 indicates expansion in the sector.

The export order sub-index in manufacturing eased to 51.3 from 51.5 in November.

The non-manufacturing PMI that measures sentiment in the services and construction sectors declined to 55.7 in December from 56.4 a month ago.

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JAPAN MANUFACTURING PMI STABLE IN DECEMBER - JIBUN

The manufacturing sector in Japan improved in December to a level of stability, the latest survey from Jibun Bank showed on Monday with a manufacturing PMI score of 50.0.

That's up from 49.0 in November and it now sits right on the line that separates expansion from contraction.

Individually, output stabilized for the first time in 23 months and employment rose for the first time since February.

New orders meanwhile, were reduced to the least marked extent of the past two years. According to anecdotal evidence, confidence remained downbeat due to the lingering impacts of the pandemic, although there was evidence that conditions were improving, notably in the automotive sector.

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EUROPEAN ECONOMICS PREVIEW: GERMANY RETAIL SALES, UNEMPLOYMENT DATA DUE

Retail sales and unemployment figures from Germany are due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is slated to issue Germany's retail sales and unemployment data. Sales are forecast to fall 2 percent on month in November, reversing a 2.6 percent rise in October.

Half an hour later, consumer price figures are due from Switzerland. Economists forecast consumer prices to fall 0.7 percent annually in December, the same rate of decrease as seen in November.

At 3.00 am ET, Spain's unemployment data for December is due.

At 3.55 am ET, the Federal Labor Agency publishes Germany's unemployment data for December. The jobless rate is seen at 6.1 percent, unchanged from November.

At 4.00 am ET, the European Central Bank is set to release money supply data. Economists expect the M3 money supply to climb 10.6 percent annually, following a 10.5 percent rise in October.

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SINGAPORE PRIVATE SECTOR CLIMBS INTO EXPANSION - MARKIT

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The private sector in Singapore moved into expansion territory in December, the latest survey from Markit Economics showed on Wednesday with a PMI score of 50.5.

That's up from 46.7 in November, and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

Individually, new orders increased for the first times since January with respondents mentioning stronger demand, a rise in e-commerce sales and promotional activity.

New orders from oversea markets also rose, and at the strongest rate since November 2018. Subsequently, firms raised output during December, which rebounded from November's relatively solid contraction.

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AUSTRALIA HAS A$5.022 BILLION TRADE SURPLUS IN NOVEMBER

Australia had a merchandise trade surplus of A$5.022 billion in November, the Australian Bureau of Statistics said on Thursday.

That was shy of expectations for a surplus of A$6 billion and down from the downwardly revised A$6.583 billion in October (originally A$7.456 billion).

Imports were up 10 percent on month after gaining an upwardly revised 2 percent in the previous month (originally 1 percent).

Exports rose 3 percent on month, slowing from the downwardly revised 4.4 percent gain a month earlier (originally 5 percent).

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EUROPEAN ECONOMICS PREVIEW: GERMAN INDUSTRIAL OUTPUT, FOREIGN TRADE DATA DUE

Industrial production and foreign trade figures are due from Germany on Friday, headlining a busy day for the European economic news.

At 1.45 am ET, Swiss unemployment data is due. The jobless rate is seen at 3.5 percent in December versus 3.4 percent in November.

At 2.00 am ET, Destatis is slated to issue Germany's industrial production and external trade data. Exports are forecast to grow 0.8 percent on month in November, the same rate as seen in October. The annual growth in imports is seen rising to 0.4 percent from 0.3 percent.

Industrial production is expected to climb 0.7 percent on month in November versus a 3.2 percent rise in October.

In the meantime, industrial production from Norway and foreign trade from Finland are due.

At 2.45 am ET, the French statistical office Insee is slated to issue consumer spending and industrial production data for November. Also, foreign trade and current account figures are due from France.

At 3.00 am ET, industrial production from Hungary and foreign trade from Slovakia are due. In the meantime, the Czech Statistical Office releases third quarter GDP data and industrial output.

Half an hour later, UK Halifax house price data is due. Economists expect house prices to climb 0.5 percent on month in December, slower than the 1.2 percent rise seen in November.

Also, industrial production and new orders are due from Statistics Sweden.

At 4.00 am ET, Italy's unemployment data is due for November. The rate stood at 9.8 percent in October.

At 5.00 am ET, Eurostat is set to publish euro area unemployment data for November. The jobless rate is expected to rise to 8.5 percent from 8.4 percent in October.

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CHINA CONSUMER PRICES RISE 0.2% ON YEAR IN DECEMBER

Consumer prices in China were up 0.2 percent on year in December, the National Bureau of Statistics said on Monday.

That exceeded expectations for an increase of 0.1 percent following the 0.5 percent contraction in November.

On a monthly basis, inflation was up 0.7 percent - again beating forecasts for an increase of 0.4 percent following the 0.6 percent decline in the previous month.

The bureau also said that producer prices were down 0.4 percent on year, beating forecasts for a fall of 0.8 percent after sinking 1.5 percent a month earlier.

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JAPAN HAS Y1,878.4 BILLION CURRENT ACCOUNT SURPLUS

Japan posted a current account surplus of 1,878.4 billion yen in November, the Ministry of Finance said on Tuesday.

That exceeded expectations for a surplus of 1,551 billion yen and was down from 2,144.7 billion yen in October.

Exports were down 3.4 percent on year to 6.039 trillion yen, while imports sank an annual 13.6 percent to 5.423 trillion yen. The trade balance showed a surplus of 616.1 billion yen.

The capital account showed a surplus of 2.1 billion yen and the financial account had a surplus of 1,593.3 billion yen.

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SOUTH KOREA UNEMPLOYMENT DATA DUE ON WEDNESDAY

South Korea will on Wednesday release unemployment figures for December, highlighting a light day for Asia-Pacific economic activity. The jobless rate in November was 4.1 percent.

Japan will see December numbers for machine tool orders; in November, orders were up 8.0 percent on year.

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EUROPEAN ECONOMICS PREVIEW: GERMANY GDP DATA DUE

GDP data from Germany and the account of the monetary policy meeting from the European Central Bank are due on Thursday, headlining a light day for the European economic news.

At 1.00 am ET, December consumer price data is due from Statistics Finland. Prices had increased 0.2 percent on year in November.

At 4.00 am ET, Destatis is slated to publish Germany's GDP data for the whole year of 2020. The economy is forecast to shrink 5.1 percent in 2020 after rising 0.6 percent in 2019.

At 5.00 am ET, consumer price figures are due from Greece. At 6.00 am ET, the Central Statistics Office is scheduled to issue Ireland's consumer price data for December.

At 7.30 am ET, the ECB is slated to release the account of the monetary policy meeting of the Governing Council held on December 9 and 10.

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AUSTRALIA OVERALL HOME LOANS RISE 5.6% IN NOVEMBER

The total value of overall home loans in Australia was up a seasonally adjusted 5.6 percent on month in November, the Australian Bureau of Statistics said on Friday - coming in at A$23.96 billion.

Owner-occupied home loans gained 5.5 percent to A$18.34 billion, while investment lending climbed 6.0 percent to A$5.61 billion.

On a yearly basis, overall lending jumped 23.7 percent, owner-occupied loans surged 31.4 percent and investment lending rose 3.9 percent.

Personal fixed term loans jumped 13.2 percent on month and 5.8 percent on year to A$1.76 billion.

Business construction loans plummeted 49.6 percent on month and 62.1 percent on year to A$1.02 billion.

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OIL PRICES FALL ON DEMAND CONCERNS

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Oil prices edged lower on Monday as climbing coronavirus cases and tighter restrictions in Europe and China fueled worries over a slower recovery in fuel demand.

Encouraging GDP and industrial production data from China helped to limit the downside to some extent.

Brent crude for March delivery eased 0.2 percent to $54.98 a barrel, after having fallen 2.3 percent on Friday. Similarly, U.S. oil futures were down 0.1 percent at $52.36 after falling more than 2 percent in the previous session.

The total number of global coronavirus cases topped 95 million, while the death toll surpassed 2 million.

China reported more than 100 new Covid-19 cases for the sixth consecutive day, while the number of hospitalized Covid-19 patients with serious symptoms in Japan topped 970, marking a record high since the onset of the pandemic in the country.

Portugal imposed a new nationwide lockdown while the U.K. government announced that it will close all travel corridors from today in order to restrict the spread of new coronavirus variant cases.

New coronavirus infections have been decreasing in Germany but the country's health minister said that more needed to be done to bring it permanently under control.

Chancellor Angela Merkel and Germany's 16 state premiers will discuss what to do next on Tuesday.
 
EUROPEAN ECONOMICS PREVIEW: GERMAN ZEW ECONOMIC CONFIDENCE DATA DUE

Economic confidence and final consumer price figures from Germany are due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, the European Automobile Manufacturers' Association releases new car registrations data for December. Registrations had declined 12 percent on year in November.

In the meantime, Destatis is set to issue Germany's final consumer price data for December. According to preliminary estimate, consumer prices were down 0.3 percent annually.

At 2.30 am ET, the Federal Statistical Office is scheduled to issue Swiss producer and import prices for December.

At 3.00 am ET, the Czech producer price data is due for December. Economists forecast prices to rise 0.3 percent on month, reversing a 0.5 percent fall in November.

At 4.00 am ET, the European Central Bank is slated to release euro area current account data for November. The surplus totaled EUR 34.1 billion in October.

At 5.00 am ET, Germany ZEW economic confidence survey results are due. The economic sentiment index is seen at 60.0 in January versus 55.0 in December

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AUSTRALIA CONSUMER CONFIDENCE INDEX SLIPS IN JANUARY - WESTPAC

Consumer confidence in Australia took a hit in January, the latest survey from Westpac Bank revealed on Wednesday with a consumer confidence index score of 107.0.

That's down from 112.0 in December, although it remains above the line of 100 that separates optimism from pessimism.

The January reading represents a 4.5 percent monthly drop following the 4.1 percent increase in the previous month.

An increase in the number of coronavirus cases is blamed for the decline, along with the resulting lockdown measures in various parts of the country.

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BOJ KEEPS POLICY UNCHANGED

The Bank of Japan decided to leave its monetary policy unchanged on Thursday and raised the growth projections.

The board voted 7-1 to retain the interest rate at -0.1 percent on current accounts that financial institutions maintain at the central bank.

The bank will continue to purchase necessary amount of Japanese government bonds without setting an upper limit so that 10-year JGB yields will remain at around zero percent.

Compared to October outlook, the projected growth rates were somewhat higher, mainly for fiscal 2021, reflecting the effects of the government's economic measures in particular. The projected rates of increase in the CPI were more or less unchanged.

The bank lifted the fiscal 2021 GDP growth outlook to 3.9 percent from 3.6 percent. Likewise, the growth projection for the fiscal 2022 was raised to 1.8 percent from 1.6 percent.

The BoJ expects consumer prices to rise 0.5 percent in the fiscal 2021 instead of 0.4 percent forecast in October. At the same time, inflation outlook for the fiscal 2022 was retained at 0.7 percent.

The bank noted that risks to both economic activity and prices were skewed to the downside, mainly due to the impact of Covid-19.

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