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Friday January 25, 2013 - 06:52:50 GMT
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TradeTheNews.com Asian Market Update: Nikkei soars on new lows in Yen, Kospi slumps on weak results from Samsung - Source TradeTheNews.com

***Economic Data*** - (JP) JAPAN JAN TOKYO CPI Y/Y: -0.6% V -0.6%E; TOKYO CPI EX-FRESH FOOD: -0.5% V -0.5%E >- (JP) JAPAN DEC NATIONAL CPI Y/Y: -0.1% V -0.2%E; NATIONAL CPI EX-FRESH FOOD: -0.2% V -0.2%E (4-month low) - (PH) PHILIPPINES NOV TRADE BALANCE: -$1.59B V -$832M PRIOR; TOTAL IMPORTS: 2.2% v 4.3% PRIOR; TOTAL MONTHLY IMPORTS: $5.14B V $5.24B PRIOR (update) - (SG) Singapore Q4 private home prices +1.8% y/y; 2012 prices +2.8% y/y - financial press - (US) NORTH AMERICA DEC SEMI BOOK TO BILL RATIO: 0.92 V 0.79 PRIOR (9th consecutive reading below parity, 2nd m/m rise) ***Markets Snapshot (as of 05:00 GMT)*** - Nikkei225 +2.1% - S&P/ASX +0.4% - Kospi -1.2% - Shanghai Composite -0.3% - Hang Seng -0.4% - Mar S&P500 -0.3% at 1,488 - Feb gold -0.1% at $1,667/oz - Mar Crude Oil -0.1% at $95.83/brl ***Notes/Observations*** - Asian equity markets are mixed, with much of the focus falling on outsized gains in Japan and steep declines in Korea. Traders squaring their USD/JPY longs in the wake of an underwhelming BOJ statement this week scrambled to get back in after more Japan cabinet officials gave the green light to the parity assault on 100, sending Nikkei225 back above 10,850. A fairly dovish "prequel" in the BOJ December meeting minutes that saw a voice in support of eliminating 0.1% paid on excess reserves, weak inflation figures, more comments defending the joint statement from Fin Min Aso, and ongoing expectations of better earnings from Japanese corporates on softer than anticipated yen have given equities plenty of tailwind to challenge 11,000 resistance, which would mark the highest level for the Nikkei since early 2010. - The Kospi appears to be on the opposite side of the coin, as currency strength and the impact of the FTA's reminded traders of the headwinds faced by Korean stocks. After a disappointing earnings report from Hyundai Motor overnight that saw shares fall over 2%, Samsung Electronics released a somewhat disappointing final Q4 report. Samsung guidance matched the caution from Apple earlier in the week, warning of slowing global smartphone markets while the outlook for PCs remained dim. Shares of Samsung Electronics are down nearly 3% late in the day. ***Currencies/Fixed Income/Commodities*** - USD/CNY: (CN) PBoC sets yuan mid point at 6.2805 v 6.2181 prior close (weakest CNY setting since Jan 8th) >- USD/JPY: Extending gains above 90.60; fresh 31-month high - EUR/JPY: Extending gains above 121 handle; 26-month high - SLV: iShares Silver Trust ETF daily holdings fall to 10,497 tons from 10,689 tons prior (lowest since Jan 15th) - GLD: SPDR Gold Trust ETF daily holdings fall by 2.4 tons to 1,331.7 tons (lowest since Oct 3rd) - (US) Weekly Fed Balance Sheet Assets Week ending Jan 23rd: $2.993T v $2.946T prior; M1: +$35.5B v -$17.3B prior; M2: -$26.6B v +$8.8B prior - (EU) George Soros: Euro is here to stay and likely to appreciate; Yen depreciation from BOJ policy is 'real' - Davos comments ***Speakers/Political/In the Papers*** - (CN) PBoC: Q4 loans to the property sector rose 12.8% y/y and 0.6% q/q to CNY12.1T - China Daily - (CN) China's Jan new yuan loans may total CNY1-1.2T - Chinese Press >- (CN) China incoming Pres Xi: Visit by Japan's New Komeito party leader Yamaguchi is important - (CN) China Labor Ministry: Dec urban registered jobless rate 4.1% vs. 4.1% in Sept - (CN) China's SAFE: May see large amount of FX flows in 2013 - financial press - (CN) Reports Dec China banks bought $169.6B in forex from clients; Sold $115.6B to clients; Net purchase of $54B - (CN) China Insurance Regulatory Commission (CIRC) prioritizing risk controls and consumer protection due to slowdown in insurance industry - Shanghai Daily - (CN) China Qualified Foreign Institutional Investors (QFII) given permission to trade index futures - Chinese press - (JP) Japan Fin Min Aso: BoJ move should not be criticized for currency manipulation - (JP) Japan govt may sell 43T in FY13/14, down from 44.2T in FY12/13 - Japan press - (JP) Japan could forecast 2.7% nominal GDP in FY13 - Japan press - (JP) Japan PM Abe seeking to accelerate debate on trade deals including TPP talks - Nikkei News ***Equities*** - Samsung Electronics 005930.KR: Reports Q4 final Net KRW7.0T v KRW7.1Te, Op profit KRW8.84T v KRW8.80Te, Rev KRW56.1T v KRW56.2Te; -2.6% - Hyundai Motor 005380.KR: CFO Lee: Higher KRW hurting net profit, Japanese autos continue to benefit from weaker yen, aims to increas US sales by 4.4% in 2013 - Kia Motor000270.KR: Reports Q4 Net KRW738B v KRW838Be; Op KRW404B v KRW621Be; Rev KRW11.3T v KRW11.4Te - KDDI 9433.JP: May report Q3 op profit around 155B, +32% y/y; Rev seen up slightly at 910B - Nikkei News - Nippon Steel 5401.JP: Toyota, Sumitomo Metal and Nippon Steel agree to cut sheet steel prices 4% - Nikkei News - Leighton LEI.AU: Thiess unit awarded 5-year A$175M water contract in Sydney - Alibaba 1688.HK: Partnering domestic retailers to build a nationwide logistics network to take advantage of online shopping growth - Shanghai Daily - FLEX: Reports Q3 $0.22 v $0.20e, R$6.12B v $5.99Be; -7.9% afterhours - MSFT: Reports Q2 $0.81(adj) v $0.75e, R$21.46B v $21.7Be; -1.5% afterhours - T: Reports Q4 $0.44 v $0.47e, R$32.6B v $32.2Be; -0.1% afterhours - JNPR: Reports Q4 $0.28 v $0.22e, R$1.14B v $1.13Be; +0.7% afterhours - CRUS: Reports Q3 $1.64 v $1.41e, R$310M v $282Me; +1.4% afterhours - SBUX: Reports Q1 $0.57 v $0.57e, R$3.8B v $3.83Be; +2.2% afterhours >- KLAC: Reports Q2 $0.63 v $0.56e, R$673M v $633Me; +2.4% afterhours

 

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Forex news reports can be found on the forex research headlines page below. Here you will find real-time forex market news reports provided by respected contributors of currency trading information. Daily forex market news, weekly forex research and monthly forex news features can be found here.

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Real-time forex market news reports and features providing other currency trading information can be accessed by clicking on any of the headlines below. At the top of the forex blog page you will find the latest forex trading information. Scroll down the page if you are looking for less recent currency trading information. Scroll to the bottom of fx blog headlines and click on the link for past reports on forex. Currency world news reports from previous years can be found on the left sidebar under "FX Archives."



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Amazing Trader EVENT RISK Calendar:


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
Thu 23 Nov
US/JP- Holiday
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13:30 CA- Retail Sales
Fri 24 Nov
All Day flash PMIs
09:00 DE- IFO Survey
US- Early Closes

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  • POTENTIAL PRICE RISK: HIGH Mon -- 14:00 GMT EZ- Draghi speaks in Brussels. Looking for any policy hints or bias


  • POTENTIAL PRICE RISK: HIGH Tue -- 13:30 GMT US- Existing Homes Sales. Top Housing Statistic

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


  • POTENTIAL PRICE RISK: Medium Wed -- 13:30 GMT US- Weekly Jobless, Durable Goods
  • POTENTIAL PRICE RISK: Medium Wed -- 15:00 GMT US- final University of Michigan Survey
  • POTENTIAL PRICE RISK: Medium Wed -- 15:30 GMT US- EIA Crude
  • POTENTIAL PRICE RISK: HIGH Wed -- 19:00 GMT US- FOMC Policy Minutes. Key policy release


John M. Bland, MBA
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