There are plenty of market holidays across Asia all this week, the full list is here:
On the data agenda we’ll get PMIs:
- for services in New Zealand for December
- preliminary indications from Australia for January
- preliminary indications from Japan for January
Of most focus will be the business confidence and conditions data from Australia. These will come via the National Australia Bank Business Survey. In the previous survey confidence (at -4) and conditions (at 20) both dropped (from 0 and 22 priors, respectively). The Reserve Bank of Australia’s interest rates hike cycle impacting on consumers and business.