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Friday August 16, 2013 - 04:48:20 GMT
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TradeTheNews.com Asian Market Update: New Zealand shaken by 6.8 earthquake; Shanghai Composite briefly spikes by about 5% - Source TradeTheNews.com

- Dell down slightly in extended session despite beating on top and bottom lines as gross margins drop 100bps; AMAT continues the trend of underperforming tech names with cautious guidance. - ANZ trading update for 9-months acknowledging softer economy; Sees China worries overdone. >- Weekly Fed balance sheet data saw foreign central banks continue to dump US debt; Note, today's TIC data for June saw China sell the most US treasuries since December - Magnitude 6.8 earthquake in New Zealand leads to brief decline in Kiwi dollar; Initial reports indicate no casualties or major property damage. >- Shanghai Composite up over 3.5% entering midday break; No clear explanation, though rumors circulated range from a fat finger trade at Everbright Securities, speculation of an impending stimulus after reports of potential RRR cuts, to futures expiration positioning. ***Economic Data*** - (SL) SRI LANKA LEAVES REVERSE REPO RATE UNCHANGED AT 9.00% (EXPECTED); LEAVES REPURCHASE RATE UNCHANGED AT 7.00% (EXPECTED) - (SG) SINGAPORE JUL ELECTRONIC EXPORTS Y/Y: -7.6% V -7.8%E; NON-OIL DOMESTIC EXPORTS M/M: -1.1% V +2.1%E; Y/Y: -0.7% V -2.9%E PRIOR - (KR) SOUTH KOREA JUL PPI Y/Y: -0.9% V -1.4% PRIOR ***Fixed Income/Commodities*** - (CN) China MOF sells 182-day notes, avg yield 3.9103% - (AU) Australia MoF (AOFM) sells A$800M in 6.0% 2017 Bonds; avg yield: 2.8700%; bid-to-cover: 3.40x - (JP) BOJ offers to buy from the market 200B in 1-3yr JGBs, 300B in 3-5yr JGBs and 450B in 5-10 yr JGBs - (US) Weekly Fed Balance Sheet Assets Week ending Aug 14th: $3.603T (record high) v $3.542T prior; Foreign central bank holdings of US Treasuries: $2.918T v $2.923T (lowest level since $2.91T in January); M1 y/y change: 11.1% v 11.1% w/w; M2 y/y change: 6.9% v 6.9% w/w - SLV: iShares Silver Trust ETF daily holdings rise to 10,525 (highest since 10,677 tons on Apr 4th) tons from 10,453 tons - GLD: SPDR Gold Trust ETF daily holdings fall by 0.3 tons to 912.9 tons. ***Currencies*** - USD majors are consolidating greenback losses in the US session, where a selloff in the treasury markets was cited as the primary reason for reduced dollar demand. EUR/USD is below $1.3340, down some 20pips from US session highs. Cable also down by a similar margin below the $1.5630 after 2 consecutive sessions of outsized sterling gains. NZD/USD briefly tested above the 0.81 handle - a 2-month high - before selling off nearly 50pips on reports of a 6.8 earthquake, while AUD/USD is grinding out a 4th session of gains above $0.9170. Focus turns to the US building permits and U of Mich consumer confidence data in early US hours where consensus forecast is calling for a multi-year high print of 85.5. ***Speakers/Political/In the Papers*** - (JP) Four China vessels reported to have entered near the disputed Senkaku islands territory - financial press - (AU) Australia RBA assistant gov Debelle: Australia banks will require up to A$308B in additional liquid assets to meet Basel III requirements - (CN) According to China State Council report, China is unlikely to face debt crisis in short-term; China debt level may gradually increase; Both high and low risk scenarios are within controllable range - financial press - (CN) China Ministry of Finance (MOF) researcher: China should exempt first homes from a property tax - Chinese press - (CN) China Ministry of Industry and Information Technology (MIIT) submits plan for consolidation in dairy sector; Expects to complete the program in next 5 years - Chinese press ***Equities*** Markets Snapshot (as of 03:30 GMT): - Nikkei225 -1.3%, S&P/ASX -0.8%, Kospi -0.3%, Shanghai Composite +3.2%, Hang Seng +0.2%, Sept S&P500 +0.2% at 1,659, Dec gold +0.2% at $1,363, Sept crude oil -0.1% at $107.25/brl Notable movers by sector: - Industrials: Toyo Ltd 5332.JP -3.7%; Kubota Corp 6326.JP -2.3%; Chiyoda 6366.JP -2.9%; Hyundai Motors 005380.KR +1.7% (Higher on reports that wage negotiations were being planned with labor unions) - Materials: Mitsubishi Materials 5711.JP -2.9%; Sumitomo Metal Mining 5713.JP -2.9%; Oji Papers 3861.JP -2.7%; Daido Steel 5471.JP -3.0%; Aichi Steel Works 5482.JP -4.3%; Alumina AWC.AU -2.9%. - Energy: Santos STO.AU +3.9% (Australia's Energy-related sector was broadly in positive territory with Santos surging on strong H1 results; It is also maintaining its full year production guidance) - Consumer Discretionary: JWN -2.3% afterhours on weak Q3 and Q4 outlook; JOSB -6.4% afterhours on weak Q2 guidance; APN APN.AU +22.4% (Surged after H1 results showed a return to interim profits and improved balance sheet. It remains on track to reduce debt); Grand Ocean 5907.TW +2.3% - Financials: Woori Financial 005940.KR -2.3%; ANZ Bank ANZ.AU -3.0% (ANZ tumbled 3% after posted 9-month results. Despite a rise in cash profits, it forecasted H2 margins for its Asia business to decline due to low rates) - Technology: DELL slid 0.4% afterhours after narrowly beating estimates; the company did not provide an outlook pending privatization bid from Michael Dell; AMAT -2.2% afterhours, Advantech 2395.TW +2.4%; Asustek Computer 2357.TW +1.0% - 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:


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15:00 US- Existing Homes Sales
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13:30 US- Weekly Jobless
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15:00 US- final University of Michigan Survey
15:30 US- EIA Crude
19:00 US- FOMC Minutes
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US/JP- Holiday
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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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