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Friday February 8, 2013 - 07:49:53 GMT
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TradeTheNews.com Asian Market Update: RBA Quarterly Statement lowers 2013 GDP targets; China Jan trade figures better than expected, inflation data in line***Economic Data*** - Source TradeTheNews.com

- (CN) CHINA JAN TRADE BALANCE: $29.2B V $24.7BE >- (CN) CHINA JAN PRODUCER PRICE INDEX (PPI) Y/Y: -1.6% V -1.6%E (smallest y/y decline in 8 months) - (CN) CHINA JAN CONSUMER PRICE INDEX (CPI) Y/Y: 2.0% V 2.0%E (first sequential y/y decline in 3 months) - (JP) JAPAN DEC CURRENT ACCOUNT TOTAL: -264.1B V -144.2BE; ADJUSTED CURRENT ACCOUNT TOTAL: 98.1B V 230.8BE (3-month low) - (JP) JAPAN DEC TRADE BALANCE - BOP BASIS: -567.6B V -560.6BE; CURRENT ACCOUNT BALANCE: -199.4% V -154.3%E - (JP) JAPAN JAN BANK LENDING EX-TRUSTS: 1.6% V 1.1%E; BANK LENDING INCL TRUSTS: 1.3% V 1.2% PRIOR - (JP) JAPAN Q4 HOUSING LOANS Y/Y: 3.1% V 3.0% PRIOR - (JP) JAPAN JAN BANKRUPTCIES Y/Y: -10.2% V -13.8% PRIOR - (JP) JAPAN JAN ECO WATCHERS CURRENT SURVEY: 49.5 V 45.8 PRIOR (third straight rise); OUTLOOK SURVEY: 56.5 V 51.0 PRIOR (third straight rise) - (MA) MALAYSIA DEC TRADE BALANCE (MYR): 8.2B V 8.6BE - (PE) PERU CENTRAL BANK LEAVES REFERENCE RATE UNCHANGED AT 4.25%, AS EXPECTED ***Markets Snapshot (as of 06:00 GMT)*** - Nikkei225 -1.8%; ends longest weekly winning streak since 1959 - S&P/ASX +0.7% - Kospi +1.0% - Shanghai Composite +1.0% - Hang Seng +0.2% - Mar S&P500 +0.1% at 1,507 - Apr gold +0.1%at $1,672/oz - Mar Crude Oil +0.3% at $96.10/brl ***Notes/Observations*** - RBA quarterly policy statement lowers H1 2013 and FY 2013 GDP to 2.5% from 2.75%; Lowers H1 2013 headline and core inflation by 0.25pts to 3.0% and 2.5% respectively; AUD/USD falls to fresh multi-month low below $1.0260. - China Jan trade much better than expected despite the seasonal distortions around Lunar New Year; Exports +25.0% v 17.5%e; Imports +28.8% v 23.5%e; iron ore imports +11, coal imports +56% y/y; AUD/USD regains $1.0290. - China Jan CPI in line with consensus at 2%; Food prices y/y: +2.9% v 4.2% prior. - Japan 2012 trade deficit largest in nearly 30 years. ***Currencies*** - USDJPY - reached 93.74 high before Nikkei open, JPY pared losses against the USD mid session before consolidating at 93.50 levels. - AUDUSD - fell sharply from 1.0320 levels before release of RBA minutes, dropped to session lows of 1.0255 following the statement, before rebounding on the back of positive China trade data - USDSGD - reached 1.2416 high before falling below the 1.24 handle after the release of positive China trade data. - USDCNY: According to Standard Chartered data, global use of yuan rose to record high as of December, rising 2.8% amid a sharp rebound in yuan deposits in Hong Kong - Shanghai Daily ***Fixed Income/Commodities*** - (US) Weekly Fed Balance Sheet Assets Week ending Feb 6th: $2.996T v $2.991T prior; M1: +$10.2B v +$15.0B prior; M2: +$9.8B v -$55B prior - SLV: iShares Silver Trust ETF daily holdings rise to 10,446 tons from 10,420 tons prior - GLD: SPDR Gold Trust ETF daily holdings rise by 1.8 tons to 1,329.9 tons (first rise since Dec 21st) - (AU) Australia MoF (AOFM) sells A$600M in 4.25% 5-yr Bonds; avg yield: 2.9039%; bid-to-cover: 4.27x ***Speakers/Political/In the Papers*** - (AU) AMP chief economist: "Downwards revision to growth numbers, combined with pretty benign inflation projections, suggest to me the inclination to ease on the part of the Reserve Bank remains fairly strong" - The Autralian - (AU) Australia Treasurer Swan: Mining tax (MRRT) rev for first two quarters at A$126M (vs budget forecast of A$2B); rev from resource rent tax have taken hit - financial press - (NZ) ANZ economists: Despite some scepticism over Q4 employment data, the message of weak labor markets is clear; Confirms RBNZ will not raise rates for a while despite strong housing and rising credit growth - NZ press - (CN) China Customs: To begin reporting trade data in yuan - financial press - (CN) China may adjust property policy before or after the National People's Congress (NPC) - financial press - (CN) China foreign ministry spokeswoman Hua Chunying: Japan was the side that provoked tensions when China frigate locked its radar - Shanghai Daily ***Equities*** - NCM.AU: Reports H1 Net A$320M v $292Me, Rev A$1.81B v A$2.34B y/y - AIR.NZ: New Zealand Commerce Commission: Landing fees imposed by Wellington International Airport are excessive - NZ Herald - Renesas 6723.JP: Reports 9-month Net loss 161.7B v loss 44.4B y/y, Op Profit loss 31.2B v loss 33.2B y/y, Rev 600.4B v 673.4B y/y - Isuzu 7202.JP: Reports 9-month Net 64.7B v 48.7B y/y, Op Profit 90.3B v 64.2B y/y, Rev 1.19T v 965B y/y - BA: FAA to permit test flights on 787 unit subject to restrictions; tests to collect data on battery, electrical system; +0.1% afterhours - PVH: To replace BIG in S&P500; BIG moved to mi-cap400 index; +2.0% afterhours - LNKD: Reports Q4 $0.35 v $0.19e, R$303M v $280Me; +9.5% afterhours >- ATVI: Reports Q4 $0.78 v $0.71e, R$2.59B v $2.44Be; increases dividend 5% to $0.19 from $0.18; +5.2% afterhours - CSTR: Reports Q4 $0.93 v $0.73e, R$564M v $581Me; -8.7% afterhours - COLM: Reports Q4 $1.15 v $1.20e, R$501M v $518Me; -2.6% afterhours - INTU: Guides Q2 R$960-965M v $1.03Be; Cites late start to tax season; -0.1% afterhours - MOH: Reports Q4 $0.54 v $0.21e, R$1.58B v $1.57Be; +7.4% afterhours - Source

 

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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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13:30 US- Weekly Jobless
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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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