A look at the day ahead in Asian markets from Jamie McGeever.
How is China's economic reopening from zero-COVID policies progressing? Purchasing managers index figures will give the most up-to-date snapshot of the huge manufacturing sector, and economists polled by Reuters reckon growth is picking up pace.The latest manufacturing PMI data from Japan, India, Australia and several other countries across the region will also be released on Wednesday.
Another Reuters poll suggests the quarterly pace of GDP growth in Australia accelerated to 0.8% in the October-December period last year, but the annual pace more than halved to 2.7%. International trade is expected to have been a major driver thanks to a boom in resource exports. Australian and Indonesian inflation figures for January are expected to be a mixed bag. In the current climate of markets repricing the global rate outlook significantly higher, mixed or forecast-matching numbers may not be enough to keep the hawks at bay.
The annual rate of Australian consumer inflation is expected to slow, but tick higher in Indonesia. Current rates pricing points to the Reserve Bank of Australia raising interest rates by another 100 bps this year, while Bank Indonesia policymakers indicated in February that their hiking cycle is over.- Manufacturing PMIs across Asia Thomson Reuters
Jamie McGeever has been a financial journalist since 1998, reporting from Brazil, Spain, New York, London, and now back in the U.S. again. Focus on economics, central banks, policymakers, and global markets - especially FX and fixed income. Follow me on Twitter: @ReutersJamie
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