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There appears to be recalibration in China's broader approach to the pandemic as local authorities have continued to ease restrictions even as covid cases continue to climb. Restrictions have been lifted by ending mandatory Covid testing for people using the public transport / parks / public spaces. Last week comments by Xi Jinping to the European Union delegation reflect the stance. Citing WSJ, China’s leader, Xi Jinping, told a visiting European Union delegation that recent protests in the country reflected frustration about Covid controls and suggested the pandemic has entered a less deadly stage.
OPEC+ ministers endorsed the output policy rollover (production cut of 2 mn barrels). The next meeting will be on February 1, 2023. G7 + Australia reached consensus on Russia oil price cap at usd 60 / bbl.
US NFP rose 263K ( consensus 200k). Average hourly earning rose 5.1% yoy.
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