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Wednesday July 3, 2013 - 07:06:30 GMT
Trade the News Staff - www.tradethenews.com/freetrial.asp?gv

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radeTheNews.com Asian Market Update: Morsi defiant, Aussie deflated - Source TradeTheNews.com

(AU) AUSTRALIA MAY TRADE BALANCE (A$): 670M V 53ME (17-month high) >- (AU) AUSTRALIA MAY RETAIL SALES M/M: 0.1% V 0.3%E (3-month high) - (AU) AUSTRALIA MAY HIA NEW HOME SALES M/M: 1.6% V 3.9% PRIOR (3rd consecutive increase) - (CN) CHINA JUN NON-MANUFACTURING PMI: 53.9 V 54.3 PRIOR (16th straight month of expansion) >- (CN) CHINA JUN HSBC SERVICES PMI: 51.3 V 51.2 PRIOR - (AU) AUSTRALIA JUN AIG PERFORMANCE OF SERVICE INDEX: 41.5 V 40.6 PRIOR - (KR) SOUTH KOREA JUN FOREIGN RESERVES: $326.4B V $328.1B PRIOR - (UK) UK JUNE BRC SHOP PRICE INDEX Y/Y: -0.2% V -0.1% PRIOR ***Markets Snapshot (as of 03:30 GMT)*** - Nikkei225 -0.6% - S&P/ASX -2.2% - Kospi -1.1% - Shanghai Composite -1.3% - Hang Seng -2.0% - Sept S&P500 -0.2% at 1,604 - Aug gold +0.1% at $1,245/oz - Aug crude oil +2.3% at $101.92/brl ***Observations/Insights*** - US equity markets pressued late in the day as Portugal/Egypt uncertainty continues to weigh on sentiment. - 10-yr yields in Portugal up over 20bps as Portugal PM Coelho acknowledges political tension following resignation of foreign min; EUR/USD at 1-month low below 1.2970 - Egypt PM Morsi demands that military withdraws 48-hr resolution ultimatum, plans to defend his democratically-elected rule with his blood in a national addressed; 16 killed and 200 wounded after statement in clashes with Mursi supporters after statement. - AUD briefly higher on strong Australia Trade Balance, China exports and iron ore shipments, rising above $0.9180; Subsequent comments from RBA Gov Stevens reiterating overnight expectation for subtrend growth to persist sends AUD/USD to lowest levels since Sept 2010 below $0.91. USD/JPY consolidating gains above 100.50. - Aug crude oil rises over $2 above $102 on Egypt clashes and large API draw. - Traders setting sights on ADP payrolls. ***Fixed Income/Commodities/Currencies*** - (JP) Japan BoJ offers to purchase 100B in 1-3yr, 400B in 3-5yr, 450B in 5-10yr govt debt from the market - (AU) Australia MOF (AOFM) sells A$700M in 4.75% 2027 Bonds; avg yield: 4.1034%; bid-to-cover: 3.06x - GLD: SPDR Gold Trust ETF daily holdings fall by 3.6 tons to 964.7 ton (lowest since 935.1 tons in Feb of 2009) >- SLV: iShares Silver Trust ETF daily holdings rise to 9,961 tons from 9,905 tons; 1-week high - (US) API PETROLEUM INVENTORIES CRUDE: -9.36M V -2.5ME (largest draw since -12.03M on Jan 3rd) ***Speakers/Political/In the Papers*** - (CN) China Premier Li Keqiang: favorable conditions have been created to achieve 2013 GDP target at 7.5% - meeting with Macedonia PM Nikola Gruevski - (CN) PBoC May net increase in FX assets declined to CNY1.01M, -64% m/m (lowest increase in six months) - financial press - (CN) China four big banks June new loans CNY230B v CNY208B in May - Chinese press - (CN) PBoC index shows China liquidity not inadequate - financial press - (CN) The probability of a financial crisis is low for China - FT - (CN) Bank of Communications analyst Lian: sees China 2013 inflation CPI around 2.6% v 3.5% official target - Chinese press - (JP) Japan Chief Cabinet Secy Suga: cannot accept China's unilateral development in East China Sea - financial press - (AU) RBA Gov Stevens: Sub-trend economic growth likely to continue in near-term; Data from China consistent with annual GDP of approx 7.5% - (AU) Fitch: continued traffic growth supports stable Australian transportation outlook - (NZ) New Zealand real estate agency Barfoot & Thompson: Auckland June House Sales declined to 1,059 y/y - financial press - (TW) Taiwan FSC cautioned local bank must raise provisions - Taiwanese press - (HK) Hong Kong Land Registry: Hong Kong June home sales HK$18.7B v HK$34.1B y/y - (US) Obama Administration: to delay Obamacare employer mandate component implementation until 2015 - (US) Fed's Powell (FOMC voter, dovish): there is a case for continued support of economy remains strong; likely to see continued accommodation for quite some time - (EG) Egypt President Mursi: Egypt was held back because of former regime - presidential statement - (EG) Egypt Military (SCAF) prepared to shed own blood to defend citizens against terrorists, radicals - financial press ***Equities*** - DELL: Founder Michael Dell said to face mounting odds against buyout bid; Dell shareholder vote on $13.65/share buyout date set for Jul 18th - financial press - PZE: Reports May total production at 2.5M boepd -2.1% m/m, -3.9% y/y; -1.9% afterhours - S: Softbank bid said to have won majority support from FCC - financial press - WPL.AU: Cuts 2013 production guidance to 85-89MMBOE v 88-94MMBOE prior - BBG.AU: ANZ Bank sold approx $65M in Billabong debt - financial press - Silver Base 886.HK: Reports FY13 Net loss HK$1.1B v profit HK$697.9M y/y, Rev HK$390.2M v HK$2.9B y/y - Mitsubishi Motors 7211.JP: Reports June North America sales -2%y/y - Gree Inc 3632.JP: May report Q4 op profit down 70% y/y around 5B; Rev seen falling 10% to 35B - Nikkei News - Source TradeTheNews.com

 

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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
All Day flash PMIs
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
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John M. Bland, MBA
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