Domestic Economic Data Colors Trade Week. The January 2022 Trade Balance data release showed a surplus of USD 930 million; higher than expected but lower than the previous month at USD 1.02 billion. Meanwhile, the Balance of Payments for the fourth quarter of 2021 was reported at USD 1.4 billion; or below the consensus estimate of USD 1.77 billion. From a global perspective, investors are still keeping an eye on the development of geopolitical tensions in Ukraine, which although briefly subsided but flared up again after US President Joe Biden said that the possibility of an invasion was still very high. The release of the minutes of the Federal Reserve’s Meeting did not give any indication of a more aggressive-than-expected monetary policy plan.
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