OVERNIGHT MARKETS AND NEWS
The dollar index (DXY00 -0.27%) is down -0.27%. EUR/USD (^EURUSD) is up +0.38% on hawkish comments from ECB Governing Council member Liikanen who said the strong recovery in the Eurozone supports inflation converging towards the ECB's target. USD/JPY (^USDJPY) is down -0.07%.
Mar 10-year T-note prices (ZNH18 -0.16%) are down -5.5 ticks.
ECB Governing Council member Liikanen said “the strong recovery in the Eurozone and reduction of economic slack support confidence in inflation converging towards our inflation aim in due course.”
The UK Dec CBI trends total orders was unchanged at 17, stronger than expectations of -2 to 15. Dec CBI trends selling prices rose +6 to a 6-month high of 23.
China Nov new-home prices rose in 50 of 70 cities tracked by the government, unch from Oct. Nov new-home prices fell in 10 cities, less than 14 that fell in Oct.
The Japan Nov trade balance shrank to a surplus of +113.4 billion yen, more than expectations of a -$40.0 billion-yen deficit. Nov exports rose +16.2% y/y, stronger than expectations of 14.7% y/y. Nov imports rose +17.2% y/y, weaker than expectations of +18.0% y/y.
