Economic calendar in Asia 05 January 2023 - another light one

[Forex News]

None of the data releases today are likely to move FX rates too much upon release. A disappointing services PMI from China will likely be shrugged off, as the country reopens from COVID and cases surge there is a short-term economic cost (and health cost of course) but this will pass and data should improve in the months ahead. China is stimulating its economy. I posted the following yesterday ICYMI:

1. policy support for the economy:

• ICYMI - China's Finance Minister reiterated plans to appropriately expand fiscal spending

2. A potential bounce out of COVID:

• China COVID peak? Nearly a dozen major Chinese cities are reporting recovery in subway use

3. Seasonal demand:

• ING on why demand for yuan in the onshore market should increase

4. More property market support (some sources are reporting this as "China is reportedly mulling measures to shore up "too big to fail" developers"):

• PBOC Guangzhou branch reportedly guides banks to provide offshore financing to developers

• Thissnapshot from the ForexLive economic data calendar, accessit here.
• Thetimes in the left-most column are GMT.
• Thenumbers in the right-most column are the 'prior' (previousmonth/quarter as the case may be) result. The number in the columnnext to that, where there is a number, is the consensus medianexpected.

This article was written by Eamonn Sheridan at www.forexlive.com.

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