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Thursday January 17, 2013 - 06:16:32 GMT
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TradeTheNews.com Asian Market Update: Australia employment data sends AUD into 1-week tailspin, while FAA grounds Dreamliner 787 - Source TradeTheNews.com

(AU) AUSTRALIA DEC EMPLOYMENT CHANGE: -5.5K V +4.5KE (first negative change in four months); UNEMPLOYMENT RATE: 5.4% V 5.4%E; PARTICIPATION RATE: 65.1% V 65.1%E - (AU) AUSTRALIA JAN CONSUMER INFLATION EXPECTATION: 2.0% V 1.8% PRIOR (First rise in 3 months) - (AU) AUSTRALIA DEC RBA FOREIGN EXCHANGE TRANSACTIONS (A$): 752M V 414M PRIOR - (NZ) NEW ZEALAND JAN ANZ CONSUMER CONFIDENCE INDEX Y/Y: 3.1% V 0.5% PRIOR; ANZ CONSUMER CONFIDENCE: 118.3 V 114.7 PRIOR - (NZ) NEW ZEALAND DEC ANZ NZ JOB ADS M/M: +0.4% V -0.8% PRIOR (first increase in 10 months) - (JP) JAPAN NOV TERTIARY INDUSTRY INDEX M/M: -0.3% V +0.1%E (biggest decline in 4 months) - (KR) SOUTH KOREA DEC PRODUCER PRICE INDEX (PPI) Y/Y: -1.2% V -0.2% PRIOR (biggest decline since Oct 2009) - (SG) SINGAPORE DEC ELECTRONIC EXPORTS Y/Y: -19.1% V -12.8%E; NON-OIL DOMESTIC EXPORTS M/M: 1.8% V 4.5%E; Y/Y: -16.3% V -7.6%E - (BR) BRAZIL CENTRAL BANK (COPOM) LEAVES SELIC TARGET RATE UNCHANGED AT 7.25% (RECORD LOW), AS EXPECTED - (SL) SRI LANKA LEAVES REVERSE REPO RATE UNCHANGED AT 9.50% (EXPECTED); LEAVES REPURCHASE RATE UNCHANGED AT 7.50% (EXPECTED) ***Markets Snapshot (as of 04:30 GMT)*** - Nikkei225 -1.4% - S&P/ASX +0.5% - Kospi -0.6% - Shanghai Composite -1.1% - Hang Seng -0.4% - Mar S&P500 -0.2% at 1,462 - Feb gold -0.3% at $1,679/oz - Feb Crude Oil -0.4% at $93.83/brl ***Notes/Observations*** - Asian equity markets are trading mainly lower amid modest profit-taking going into tomorrow's release of China Q4 GDP and industrial production figures. Shanghai Composite and Nikkei225 are down by over 1% - the latter reversing its initial gains to track a third day of stronger yen. USD/JPY traded up to 88.80 before a fresh round of selling took that pair within 20 pips of its overnight low around the 88 handle. S&P/ASX is the only index in the green, boosted by renewed speculation of more easing out of the RBA after a disappointing Dec employment data in Australia. AUD is also sharply lower, falling over 60 pips to a 1-week low below $1.05, while AUD/JPY is down over 100 pips to test below 92.60. - Brazil central bank left interest rates unchanged at 7.25% as expected in a unanimous decision, but warned inflation conditions have been deteriorating. Shares of Boeing are down another 2% after the FAA decided to ground all 787 Dreamliner aircraft pending further review. Ebay earnings were largely in line with estimates, sending shares up about 1%. In M&A, Dell was up slightly on reports Silver Lake is close to obtaining financing, and K-Swiss was acquired by a South Korean firm for $4.75/shr. ***Currencies/Fixed Income/Commodities*** - AUD/USD: Falls below $1.05; 1-week low - GLD: SPDR Gold Trust ETF daily holdings fall by 2.4 tons to 1,334.4 tons (lowest since Nov 5th) - SLV: iShares Silver Trust ETF daily holdings rise to 10,735 tons from 10,162 tons (record high) - (AU) According to Steel Index, spot market price for iron ore fell by $7.50 to $145.40; Biggest decline in 14 months - SMH ***Speakers/Political/In the Papers*** - (CN) Credit Agricole analyst: Sees China 2012 GDP at 7.7% and 2013 GDP at 8.5% - China Daily - (CN) SocGen analysts: Raises China Q4 GDP to 7.9% from 7.7% prior, raises Q1 GDP to 8.2% from 7.8% prior - financial press - (CN) Barclays: Sees China Jan New Loans at CNY1.35T +83% y/y - financial press - (CN) According to General Administration of Customs of China, imports of iron ore in Dec rose 10.7% y/y to 70.94M tons; Jan imports expected to fall m/m due to high prices - Chinese press - (CN) China SAFE: 2012 tax collection amounted to CNY11.1T, +11.2% y/y vs 22.6% increase in 2011 - Shanghai Daily - (CN) China Academy of Social Sciences (CASS) researcher Gao Haihong: US Fed's QE may lead to global inflation - Chinese press - (CN) China Academy of Social Sciences (CASS) researcher Ming: PBoC not likely to cut rates; May still cut RRR this year - financial press - (JP) Japan Trade Min Motegi: Maintains stance to tackle strong JPY, defeat deflation - Japanese press - (JP) JP Morgan: Sees ADB president Kuroda as the best candidate as next BoJ gov - financial press - (JP) Japan Govt to maintain issuance of new govt bonds in FY13/14 at 44T, just below projected 44.2T in FY12/13 - Japan press - (AU) JP Morgan economist forecasted Australia unemployment to rise to 6% by end of 2013 - The Australian >- (AU) NAB chief economist: Weak Australia jobs data raises propability that RBA will resume policy easing, but quaterly inflation data just ahead of the rate decision will be the key determinant - Australian press - (US) Fed's Kocherlakota (alternate on FOMC in 2013): Fed should be prepared to be accommodative until economy normalizes; 5.5% unemployment would signal return to normal - financial press ***Equities*** - Renesas 6723.JP: Plans to cut workforce by 3-4K workers, lowering payroll by 9-12% as part of conditions to be acquired - Japan press - Nissan 7201.JP: Considering release of luxury Infiniti vehicles in Japan to help improve profitability with higher-margin products; Aims to achieve 10% market share in luxury vehicles to 10% by FY16/17 - Nikkei News - IHI 7013.JP: To end partnership with Daimler over development of turbochargers - Nikkei - Sharp 6753.JP: Lenovo and Sharp are in talks for TV partnership - Nikkei news - WPL.AU: Reports Q4 Rev $1.77B +43% y/y; Reports FY12 production 84.9Mmboe (+31% y/y) v 83-86Me; Reaffirms FY13 production at 88-94Mmboe - STO.AU: Reports Q4 Rev A$876M, +8% y/y, production 13.3Mmboe +13% y/y - ILU.AU: Reports Q4 Total mineral sands output -26.5% y/y; 2012 rev -30% y/y to A$1.07B - QAN.AU: ACCC said to have approved interim authorization for Emirates deal - financial press - China Minmetals 1208.HK: Reports 2012 Net CNY8.0B v CNY12.8B y/y, Rev CNY325B v CNY355B y/y - financial press - 005380.KR: Hyundai/Kia group looking to increase combined 2013 vehicle sales in China by 10% to 1.47M units - Korean pres - LPL: Samsung Display asking for patent annulment trial for LG Display's LCD-related patents with the Korean Intellectual Property Tribunal - Korean press - COLM: Reports prelim Q4 R$499-503M v $535Me (vs prior outlook implied approx $534M); -7.8% afterhours - BA: FAA orders airlines to temporarily suspend operating all 787 Dreamliner units - financial press; -2.1% afterhours - AMGN: Announces Top-Line Results Of Phase 3 Aranesp did not meet primary endpoint (darbepoetin alfa) RED-HF Trial; -0.7% afterhours - DELL: Silver Lake said to be close to obtaining financing for leveraged buyout - financial press; +1.1% afterhours - EBAY: Reports Q4 $0.70 v $0.69e, R$3.99B v $3.97Be; +1.3% afterhours - PLXS: Reports Q1 $0.47 v $0.49e, R$530.5M v $552Me; +3.7% afterhours - KSWS: To be acquired by E.Land World for $4.75/shr in cash; +52% afterhours -

 

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Amazing Trader EVENT RISK Calendar:


Mon 20 Nov
14:00 EZ- Draghi Speech
15:00 US- Leading Indicators
Tue 21 Nov
15:00 US- Existing Homes Sales
23:00 US- Yellen Speech
Wed 22 Nov
13:30 US- Weekly Jobless
13:30 US- Durable Goods
15:00 US- final University of Michigan Survey
15:30 US- EIA Crude
19:00 US- FOMC Minutes
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13:30 CA- Retail Sales
Fri 24 Nov
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  • POTENTIAL PRICE RISK: HIGH Mon -- 14:00 GMT EZ- Draghi speaks in Brussels. Looking for any policy hints or bias


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  • POTENTIAL PRICE RISK: HIGH Tue -- 23:30 GMT US- Yellen Speech. Early evening. Looking for anything on policy


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John M. Bland, MBA
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