Macro Roundup (Dec 26)

SHANGHAI, Dec 26 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.

Last night

SHFE base metals, except for copper and aluminium, traded lower across the board overnight. Nickel dropped some 1.3%, lead fell 1.1%, tin slid 0.7% and zinc dipped 0.1%.

The LME was closed on Tuesday for Christmas.

The US dollar fell against the safe-haven yen and Swiss franc on Tuesday as investors cut their exposure to riskier assets amid the partial US government shutdown and signs of confrontation between the White House and the Federal Reserve.

China took further steps in opening up its market on Tuesday by rolling out a shorter negative list for market access.

The latest version of the negative list for market access consists 151 items and 581 rules, down by 177 and 288, respectively, compared with the previous version.

The negative list outlines sectors, fields and businesses that are off-limits for investors. Industries not on the list are open for investment to all market players.

China started to pilot the negative-list approach in 2016 in the country's four provincial regions with free trade zones. The pilot practice was extended to another 11 provincial regions in 2017.

The country's top economic planner said the negative-list approach will help the market play the decisive role in allocating resources and enable a level playing field for all market players.

Day ahead

Some financial markets will shut for Boxing Day today.