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Friday August 9, 2013 - 05:04:20 GMT
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TradeTheNews.com Asian Market Update: China CPI misses estimates as markets eye remaining July data; RBA lowers 2013 GDP target - Source TradeTheNews.com

(CN) CHINA JUL PRODUCER PRICE INDEX (PPI) Y/Y: -2.3% V -2.1%E; M/M -0.3% >- (CN) CHINA JUL CONSUMER PRICE INDEX (CPI) Y/Y: 2.7% V 2.8%E; M/M +0.1% v 0.0% prior - (AU) RESERVE BANK OF AUSTRALIA (RBA) QUARTERLY STATEMENT ON MONETARY POLICY; Recent inflation data did not diminish scope to cut again in August; Lowers 2013 GDP target to 2.25% - (JP) JAPAN JUN TERTIARY INDUSTRY INDEX M/M: -0.3% V -0.4%E - (JP) JAPAN JUL MONEY STOCK M2 Y/Y: 3.7% V 3.8%E; M3 Y/Y: 3.0% V 3.1%E - (NZ) NEW ZEALAND JUL CARD SPENDING RETAIL M/M 0.5%E V 1.1% PRIOR; CARD SPENDING TOTAL M/M: 0.2% V 1.2% PRIOR - (PE) PERU CENTRAL BANK LEAVES REFERENCE RATE UNCHANGED AT 4.25%, AS EXPECTED ***Markets Snapshot (as of 03:30 GMT)*** - Nikkei225 +0.2% - S&P/ASX -0.4% - Kospi flat - Shanghai Composite -0.6% - Hang Seng +0.4% - Sept S&P500 flat at 1,692 - Dec gold +0.1% at $1,311 - Sept crude oil +0.8% at $104.22/brl ***Observations/Insights/Currencies*** - Unlike the US long bond auction, demand for Japan's 30-year fairly robust. 30-yr JGBs priced will above par at 102.11 v 100.11 prior; bid-cover 4.14x v 3.96x - Among the notable US earnings, Priceline tops estimates in a typical fashion, sending shares up $50 bucks above $980 in extended session; Rare-earth stalwart Molycorp disappoints. - Australia central bank's quarterly policy statement lowering 2013 GDP target by 0.25pts to 2.25% but projecting a rebound in 2015 to a midpoint of 3.5%. Also lower 2013 and H1 2014 core CPI. >- China July CPI a decimal below forecast at 2.7%. Shanghai Composite is down 0.6% at session lows at the break despite the 7-day shibor falling to a 3-week low, with reports over further property curbs hitting the sector. - Currency markets fairly subdued after a volatile week. AUD remained in focus after less dovish than expected RBA overnight, rising to session high of 0.9130 after RBA quarterly policy statement projections forecast a bounce in 2015. USD/JPY hitting session lows around 96.30, down about 60pips from the highs, following reports of a 5.0 magnitude earthquake in Japan. EUR/USD and GBP/USD in narrow ranges around 1.3380 and 1.5540. ***Fixed Income/Commodities*** - (JP) Japan MoF sells 456.6B in 1.9% (1.9% prior) 30-yr notes; Avg yield: 1.791% v 1.894% prior; Bid to cover: 4.14x v 3.96x prior - (CN) China MOF sells 20-yr bonds, avg yield 4.32% - USD/CNY: (CN) PBoC sets yuan mid point at 6.1668 v 6.1225 prior close (strongest Yuan setting since July 17th) - (JP) BoJ to buy 2.0T T-bills on Aug 13th; 150B in corporate bonds on Aug 15th - (AU) Australia MoF (AOFM) sells A$700M in 4.75% 2015 Bonds; avg yield: 2.4218%; bid-to-cover: 3.16x - (NZ) RBNZ: Bought NZ$61M in June vs. purchase of NZ$90M prior - (US) Weekly Fed Balance Sheet Assets Week ending Aug 7th: $3.542T (record high) v $3.53T prior; M1 y/y change: 11.1% v 11.3% w/w; M2 y/y change: 6.9% v 6.8% w/w - GLD: SPDR Gold Trust ETF daily holdings fall by 1.2 tons to 909.3 ton (lowest since 894.7 tons in Feb of 2009) ***Speakers/Political/In the Papers*** - (CN) China said to be considering possibility of shale gas imports from the US - Nikkei News >- (CN) China CASS Researcher Yi: China may do more to curb property speculation; China may add six additional cities into property tax trial program - Chinese press - (CN) Banks in Zhejiang report end of June non-performing loans (NPL) of CNY104.6B v CNY107.6B m/m (first decline in 32 months) - press - (CN) Wenzhou said to have started allowing purchase of 2nd homes - Chinese press - (CN) Beijing Urban Construction plans to raise approx CNY3.9B by issuing up to 416M shares - financial press - (US) Fed's Fisher: Reiterates need to dial down on QE - CNBC - (US) Cleveland Fed's Pianalto plans retirement in the early part of next year - financial press ***Equities*** US - After Market Close: - MCP: Reports Q2 -$0.36 (adj) v -$0.23e, R$136.9M v $163Me; -13.4% afterhours >- MNST: Reports Q2 $0.62 v $0.64e, Net Rev $630.9M v $643Me; -4.2% afterhours - GPS: Reports July SSS +1.0% v 1.8%e; -1.7% afterhours - NVDA: Reports Q2 $0.23 v $0.13e, R$977.2M v $980Me; -1.9% afterhours - VZ: Gains FDA Clearance for Remote Health Monitoring Solution; -0.1% afterhours - LGF: Reports Q1 $0.18 v $0.03e, R$569.7M v $513Me; +3.6% afterhours - PCLN: Reports Q2 $9.70 v $9.41e, R$1.68B v $1.65Be; +5.4% afterhours >- RAX: Reports Q2 $0.16 v $0.13e, R$375.8M v $373Me; +11.7% afterhours Australia S&P/ASX - New Zealand NZX50: - TAH.AU: Reports FY13 Net A$126.6M v A$139Me; Rev A$2.13B, -30% y/y - ANZ.AU: Lowers variable mortgage interest rate by 25bps to 5.88%; effective on Aug 16th Japan Nikkei225: - IHI Corp 7013.JP: To partner with Hyundai Motor to produce engine turbochargers - Nikkei News - Isuzu 7202.JP: To start sales of small-engine pickup trucks in Thailand in 2015 - Nikkei News - Sojitz 2768.JP: To invest 35B in four solar farms with power generating capacity totaling 106K kw - Nikkei News Hong Kong Hang Seng - Singapore Straits Times: - China Resources 291.HK: In talk with TESCO for potential JV - financial press - 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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15:00 US- Existing Homes Sales
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13:30 US- Weekly Jobless
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15:30 US- EIA Crude
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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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