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Tuesday August 13, 2013 - 05:00:07 GMT
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TradeTheNews.com Asian Market Update: Australia Treasury confirms no budget surplus before FY16/17; BOJ minutes show concern over slowing inflation***Economic Data*** - Source TradeTheNews.com

- (AU) AUSTRALIA JUL NAB BUSINESS CONDITIONS: -7 V -7 PRIOR; NAB BUSINESS CONFIDENCE: -3 V 0 PRIOR (7-month low) >- (JP) JAPAN JUN MACHINE ORDERS M/M: -2.7% V -7.0%E (first decline in two months); Y/Y: 4.9% V 2.6%E - (PH) PHILIPPINES JUN EXPORTS Y/Y: 4.1% V 8.1%E; TOTAL MONTHLY EXPORTS: $4.5B V $4.9B PRIOR - (UK) UK JUL RICS HOUSE PRICE BALANCE: 36% V 24%E (highest reading since Nov 2006) ***Observations/Insights*** - Australia sticks to the forecast of budget surplus; Reiterates 2.5% GDP target this year. >- Yum China July sales down double digits; Reiterates expectation for China Division same-store sales to recover and turn positive in Q4. - Sina Corp tops estimates amid improving margins, offers upbeat Q3 guidance. - BOJ July 11th meeting minutes revealing concern progress on inflation may slow and that China economy remains sluggish. 5-yr JGB auction showing strong demand. - PBoC injects CNY11B in 7-day repos. - AUD underperforms on slowing business confidence. ***Fixed Income/Commodities/Currencies*** - EUR/USD and GBP/USD in narrow 20-pip ranges around $1.33 and $1.5450; AUD/USD briefly approaches $0.91 handle after NAB data, down nearly 50pips from session highs; USD/JPY rising for second session, up 50 pips from the lows above 97.40; PBoC back away from multi-week high yuan setting; INR still under pressure above INR61.50. - JGB: (JP) Japan's MoF sells 2.45T in 0.3% 5-yr notes; Avg yield: 0.285% v 0.295% prior; Bid to cover: 5.51x v 4.28x prior - (CN) China PBOC to inject CNY11B in 7-day reverse repos - financial press - USD/CNY: (CN) PBoC sets yuan mid point at 6.1705 v 6.1223 prior close - Baoshan Steel 600019.CN: Raises main steel product prices for September - financial press ***Speakers/Political/In the Papers*** - (CN) China Ministry of Industry and Information Technology (MIIT): China Jan- June information consumption CNY2.02T - (CN) China state researcher: China could reach GDP per capita target with growth rate of 6.9-7.1% by 2020 - Chinese press - (CN) China banks may need to assume mortgage default rate of as high as 10% - Chinese press - (CN) China Building Materials Federation vice-chairman: China oversupply of cement has become uncontrollable - (CN) Chinese local govts approve urban rail investments; sees total of CNY4T investment till 2020 - Chinese press - (CN) Morgan Stanley: China coal prices may have bottomed; Inventories in China and Indonesia have been falling past 2 months - financial press - (CN) China National Development and Reform Commission (NDRC) fined gold stores CNY10.6M for price manipulation - Xinhua - (JP) BANK OF JAPAN (BOJ) RELEASES MINUTES FROM JULY 10-11 MEETING: Few members said CPI rises may pause following the summer - (JP) All Japan nuclear power supplies to be halted on Sept 15 - Japanese press - (JP) Former BoJ official / Japan PM Abe adviser Nakahara believes the sales tax increase should be delayed until the fall of 2014 - financial press - (AU) Australia Treasury affirms govt statement for FY13/14 GDP at 2.5%, FY14/15 GDP at 3.0% >- (AU) S&P: China hard-landing would have impact on Australia banks - (NZ) New Zealand releases international visitors survey: FY12/13 China visitor spending +24% y/y at NZ$645M - (NZ) New Zealand PM Key to visit China later this year to issue a formal apology regarding the latest Fonterra milk botulism scare - financial press - (NZ) New Zealand Central Bank (RBNZ) proposes changes to loan value ratio (LVR) implementation - (KR) South Korea govt may cancel some tax hike proposal following backlash - Korean press - (SG) Singapore H1 private home prices +1.6% y/y - URA - (MX) IMF: Mexico energy reform plan announced today could contribute to domestic growth - (BR) HSBC cuts Brazil 2013 GDP forecast to 1.9% from 2.4%, 2014 to 2.2% from 3.0% prior ***Equities*** Markets Snapshot (as of 03:00 GMT): - Nikkei225 +1.4%, S&P/ASX +0.2%, Kospi +0.9%, Shanghai Composite -0.1%, Hang Seng +0.3%, Sept S&P500 flat at 1,687, Dec gold flat at $1,334, Sept crude oil +0.1% at $106.20/brl Utilities: [Oki Electric 6703.JP +5.3% (Q1 results)] Materials: [Mitsubishi Materials 5711.JP +4.7% (Q1 results); Newcrest Mining NCM.AU -3.4% (cut at Macquarie); Alacer Gold AQG.AU +5.6% (Sales update; reaffirms FY13 production, cost guidance)] Industrials: [Toto Ltd 5332.JP +5.0%; Kawasaki Heavy 7012.JP +4.5%; Hyundai Merchant 011200.KR +10.9% (Q2 Results); Bradken BKN.AU +8.9% (FY13 results)] Telecom: [Softbank 9984.JP +4.2%; Amcom AMM.AU +6.8% (FY13 results)] Healthcare: [Chugai Pharmaceuticals 4519.JP +4.0%] Consumer Discretionary: [Calbee Inc 2229.JP +6.4%] Technology [Samsung Electronics 005930.KR +3.2% (12-in tablet development); MediaTek 2454.TW +2.4% (quad chip demand)] US - After Market Close: - YUM: Reports July China SSS -13%; -3.8% afterhours - AAPL: Said to be preparing to introduce a new version of the iPad and iPad Mini featuring slimmer design - financial press; +0.2% afterhours - SINA: Reports Q2 $0.21 v $0.11e, R$153M v $150Me; +5.9% afterhours Japan Nikkei225: - Hitachi Metals 5486.JP: Alliance of 12 China rare earth firms plan to sue Hitachi for alleged patent infringements - financial press - Kintetsu Department Stores 8244.JP: Sees increased business; July sales at main outlet +30% y/y - Kyodo News - Mazda 7261.JP: To enter into the Cambodia market - Japanese press - Kawasaki Kisen 9107.JP: To invest about 2.2B in a logistics center in Thailand, about 10mi from Laem Chabang Port - Nikkei News - Toshiba 6502.JP: Launching a health-monitoring service for the elderly around October - Nikkei News - Daio Paper 3880.JP: To launch a capital tie-up with Tokushu Tokai Paper; Companies to acquire 3% stakes in each other by end of Aug - Nikkei News - Meiji 2269.JP: Reports Q1 Net 6.5B v 1.9B y/y, Op Profit 9.4B v 6.4B y/y, Rev 275B v 274B y/y - Mabuchi Motors 6592.JP: Reports H1 Net 5.6B v 3.0B y/y, Op 3.7B v 2.8B y/y, Rev 51.0B v 42.1B y/y Australia S&P/ASX - DMP.AU: Reports FY13 underlying NPAT A$30.4M v A$26.9M y/y; SSS 2.0% v 6.5% y/y, Network Rev A$848.6M v A$805.3M y/y; Announces capital raise to take a stake in Japan unit - SGP.AU: Reports FY13 underlying Net A$494.8M v A$676.1M y/y, Rev A$1.92B v A$2.21B y/y - BKN.AU: Reports FY13 Net A$66.9M v A$100.5M y/y, Rev A$1.32B v A$1.46B y/y - SAI.AU: Guides FY Net loss A$43M, EBITDA A$100-105M Hong Kong Hang Seng - Singapore Straits Times - South Korea - Taiwan: - China Lilang 1234.HK: Reports H1 Net CNY242.3M v CNY278.0M y/y, Rev CNY1.09B v CNY1.26B y/y - CLP 2.HK: CEO: Does not see turnaround in its Australian business in the next six months; India ops to improve significantly in H2 - SCMP - Universal Technologies 1026.HK: Expects to see a substantial decline or loss in H1 compared to profit y/y - China Ocean Shipbuilding 651.HK: Expects to see significant decrease in revenue and increase in loss in H1 - Peak Sports Products 1968.HK: Reports Q2 SSS flat y/y - Tencent 700.HK: May look to spinoff WeChat in a Singapore listing - Chinese press - Yanchang Petroleum 346.HK: Reports H1 Net HK$24.1M v loss HK$58.4M y/y, Rev HK$8.04B v HK$647.3M y/y - Foxconn 2038.HK: Reports H1 Net $17.7M v $226.1M y/y, Rev $2.48B v $2.50B y/y - EVOC 2308.HK: Reports H1 Net CNY25.5M v CNY23.3M y/y, Rev CNY550.5M v CNY556.0M y/y - Springland 1700.HK: Reports H1 Net CNY446.1M v CNY391.4M y/y, Rev CNY2.11B v CNY1.95B y/y - Hyundai Motor 005380.KR: Labor union declares strike action; Also plans to release hybrid version of Azera sedan model - Korean press - Hana 086790.KR: Provides new business strategy; plans to earn 30% of net profits overseas by 2025 - Korean press - Hannstar Display 6116.TW: Reports July Rev NT$2.79B; -5.3% m/m, -11.3% y/y - Compal 2324.TW: Compal-Lenovo JV in China outsourcing front-end manufacturing to China-based notebook OEMs in a bid to boost output - DigiTimes citing supply chain sources - HTC 2498.TW: May sell part of Shanghai plant to Huawei - financial press - MediaTek 2454.TW: May encounter quad chip shortages on Xiaomi handset demand - financial press - Source TradeTheNews.com

 

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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
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13:30 CA- Retail Sales
Fri 24 Nov
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09:00 DE- IFO Survey
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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


  • 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


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The Global-View Forex Forum is the hub for currency trading on the web. Founded in 1996, it was the original forex forum and is still the place where forex traders around the globe come 24/7 looking for currency trading ideas, breaking forex news, fx trading rumors, fx flows and more. This is where you can find a full suite of forex trading tools, including a complete fx database, forex chart points, live currency rates, and live fx charts. In addition, there is a forex brokers directory where you can compare forex brokers. There is also a forex brokers hotline where you can ask for help choosing a forex broker that meets your individual fx trading needs. Interact on the same venue to discuss forex trading.

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The forex forum is where traders come to discuss the forex market. It is one of the few places where forex traders of all levels of experience, from novice to professionals, interact on the same venue to discuss forex trading. There is also the GVI Forex, which is a private subscription service where professional and experienced currency traders meet in a private forex forum. it is like a virtual forex trading room. This is open to forex traders of all levels of experience to view but only experienced currency tradingprofessionals can post.

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