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Wednesday September 18, 2013 - 06:01:58 GMT
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TradeTheNews.com Asian Market Update: Quiet before the Taper squall - Source TradeTheNews.com

- Asian equity markets little changed - a quiet before the likely burst of volatility following Wednesday taper decision from the FOMC; According to one survey, analysts are near-even split in expectations of any taper at $5B or less or $10B or more. - Nikkei225 the most notable outperformer, with reports of softening cabinet opposition to lower corporate tax rates as the counterbalance to the expected increase in sales tax. >- Japan threatens to shoot down drones after last week's fly-by around the disputed island territory. - China home price gains picking up the pace in Aug: new home prices m/m: 0.8% v 0.7% prior; y/y: 8.3% v 7.5% prior. - S&P citing possibility of slippage in West Australia fiscal plans; Cuts rating to AA+ from AAA. ***Economic Data*** - (CN) CHINA AUG NEW HOME PRICES M/M: RISES IN 66 OF 70 CITIES VS 62 PRIOR; Y/Y: PRICES RISE IN 69 OF 70 CITIES VS 69 PRIOR - (AU) AUSTRALIA JUL WESTPAC LEADING INDEX M/M: 0.6% V 0.0% PRIOR (3-month high) - (AU) AUSTRALIA JUL CONFERENCE BOARD LEADING INDEX: +0.3% V -1.1% PRIOR - (NZ) NEW ZEALAND Q2 CURRENT ACCOUNT BALANCE (NZ$): -1.25B V -1.90BE; CURRENT ACCOUNT GDP RATIO YTD: -4.3% V -4.8%E ***Fixed Income/Commodities/Currencies*** - JGB: (JP) Japan's MoF sells 1.10T 20-year 1.7% JGBs; Avg yield: 1.660% v 1.689% prior; bid-to-cover: 3.21x v 3.39x prior - (AU) Australia MoF (AOFM) sells 4.75% A$800M in 2015 Bonds; avg yield: 2.7867%; bid-to-cover: 3.39x - (US) API PETROLEUM INVENTORIES: CRUDE: -252K (3rd consecutive draw) v -1Me; GASOLINE: -641K v +0.5Me; DISTILLATE: -167K v +1Me - USD majors in narrow ranges with traders unwilling to make big bets ahead of the critical Fed decision - USD/JPY in 20pip range around 99.20, EUR/USD in 15pip range around 1.3350, AUD/USD in 20pip range around 0.9350, while NZD/USD in 20pip range around 0.8230. Early session USD strength has given to short-covering late in the day. Precious metals fell, tracking lower USD with gold down $20 to $1,390 low; Silver down 40c at $21.40. ***Speakers/Political/In the Papers*** - (AU) S&P cuts Western Australia (WA) credit rating to AA+ from AAA; Outlook Stable - (AU) RBA's Assistant Gov Edey: Talk of a housing bubble would be alarmist; house prices have risen in line with income - (NZ) New Zealand PM Key: Concerned about the prices of property; more comfortable with current account deficit - financial press - (NZ) New Zealand Fin Min English: NZD at high $0.70s would be comfortable; country is in a good position to benefit if NZD weakens - (CN) Publishing of Shanghai Free Trade Zone detailed rules may be delayed - Chinese press - (CN) China State Information Center researcher Zhang: China faces risks in US treasuries holding - Chinese press - (CN) China Securities Regulatory Commission (CSRC) accepts property company financing plans - press - (JP) Japan MoF said to be softening its opposition to corporate tax cut - Nikkei News - (JP) Japan said to be mulling plans to shoot down unmanned aircraft - Japanese press - (US) WSJ Fed watcher Hilsenrath: Fed does not want to upset markets tomorrow, so will make extra effort to reinforce low rate guidance; Fed really does not want to set off more market volatility - CNBC interview ***Equities*** Markets Snapshot (as of 03:30 GMT): - Nikkei225 +1.8%, S&P/ASX -0.3%, Kospi closed, Shanghai Composite -0.2%, Hang Seng -0.3%, Dec S&P500 +0.1% at 1,700, Dec gold -0.9% at $1,297, Oct crude oil +0.2% at $105.65/brl US markets: - ADBE: Reports Q3 $0.32 v $0.34e, R$995M v $1.01Be; Guides Q4 $0.28-0.34 v $0.41e, R$1.00-1.05B v $1.09Be; +5.5% afterhours - STLD: Guides Q3 EPS $0.21-0.26 v $0.26e; flat afterhours - DLTR: Adopts $2B Share Repurchase Authorization (about 16% of market cap); +3.5% afterhours - AFOP: Raises Q4 Rev guidance to above $22M v $20Me ($19.5-20.5M prior) ; +13.6% afterhours Notable movers by sector: - Technology: Sharp Corp 6753.JP +2.4% (press reports on H1 profit guidance), Hon Hai Precision Industries 2412.TW flat (commitment to secure 4G licenses), Lenovo Group Ltd LNVGY +1.0% (raises quarterly shipment forecast) - Consumer discretionary: Japan Airlines Corp 9201.JP +2.1% (improved finances) - Industrials: Kawasaki Heavy Industries 7012.JP +4.4% (railcar order), Hitachi Ltd 6501.JP +1.3% (JV facility expansion) - Materials: Perseus Mining Ltd PRU.AU -4.0%, Newcrest Mining Ltd NCM.AU -3.2%, (Australia miners lower as gold, metals continued to decline); Rio Tinto Ltd RIO.AU -1.4%, BHP Billiton Ltd BHP.AU -0.6%, Aluminum Corporation of China Limited 2600.HK -2.5%, Jiangxi Copper Company Ltd 358.HK -2.5%, Angang Steel 347.HK -0.8% on weaker commodity prices. - Telecom: China Unicom Ltd 762.HK -0.3%, China Telecom Corp. Ltd 728.HK -1.0% (China telecoms down on possible iPhone supply issues) Related (UPDTE ) - 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
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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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US/JP- Holiday
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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


  • POTENTIAL PRICE RISK: HIGH Tue -- 13:30 GMT US- Existing Homes Sales. Top Housing Statistic

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  • 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
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  • POTENTIAL PRICE RISK: HIGH Wed -- 19:00 GMT US- FOMC Policy Minutes. Key policy release


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