<p>Coming up on Saturday, 31 December 2022 are the December PMIs from China’s National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP). </p><p>The December results are likely to show the ill-effects of surging COVID-19 cases in China as the country embraced reopening. </p><ul><li>Composite prior was 47.1</li></ul><p>On those ‚expected‘ results, it’s a small sample survey only. I expect both results will remain in contraction. </p><p>Also, while you are here, Asian trading this coming Monday, January 2, will be neglibile. It’s the New Year observance holiday in all major forex centres and China. </p><ul><li>Japan, Singapore, Hong Kong, Australia and New Zealand markets are all closed. </li></ul>

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