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Tuesday October 8, 2013 - 05:04:57 GMT
Trade the News Staff - www.tradethenews.com/freetrial.asp?gv

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TradeTheNews.com Asian Market Update: Shanghai Composite returns from week-long holiday with a rally; Australia data further supports bottom in rates - Source TradeTheNews.com

- No hints of a thaw in the icy standoff between Republican lawmakers and the White House; Pres Obama reiterates he is eager to sit down with Republicans to discuss healthcare and other issues after the debt ceiling has been raised and challenges Boehner to hold a vote to prove there aren't enough votes for a clean CR; Separately, financial press speculates the house speaker may be less resolute about attaching spending to budget ceiling "in private". - Fed Watcher Hilsenrath said the decision not to taper followed a tense 6-month negotiation period, with a minority wing of the Fed pressing Chairman Bernanke to articulate exit strategy. - Australia's Sept ANZ Jobs and NAB business sentiment seeing multi-month highs, supporting AUD and further suggesting the RBA will retain its neutral policy stance/bias; ANZ economist stating data is consistent with the view that much of the rise in unemployment rate has already occurred; Australian official jobs figures expected later this week; NAB points to changing political landscape and the new liberal (center-right) govt benefiting business confidence. - Shanghai Composite returns from golden week holidays; After falling over 0.5% at the open, the index is up 0.5% in the afternoon session; Local press reports noting strong demand in housing and discretionary spending during the holiday period. State Info Center forecasting low inflation (2.7% CPI) and 7.6% 2013 GDP - just above the official target. ***Economic Data*** - (CN) CHINA SEPT HSBC/MARKIT SERVICES PMI: 52.4 V 52.8 PRIOR - (JP) JAPAN AUG CURRENT ACCOUNT BALANCE: 161.5B V 520.0BE; ADJ CURRENT ACCOUNT: 351.8B V 634.1BE; TRADE BALANCE BOP BASIS: -885.9B V -880.0BE - (JP) Japan Sept 1-20th Trade Balance: -994.0B, +90.7% y/y - (JP) Japan investors bought net 785.5B in Foreign Bonds in Sept; Foreign Investors bought net 812.9B in Japan stocks in Sept - (AU) AUSTRALIA SEPT ANZ JOB ADVERTISEMENTS M/M: +0.2 V -2.0% PRIOR (1st increase in 7 months) >- (AU) AUSTRALIA SEPT NAB BUSINESS CONDITIONS: -4 V -6 PRIOR; NAB BUSINESS CONFIDENCE: 12 V 6 PRIOR (highest since Feb 2011) - (NZ) NEW ZEALAND Q3 NZIER BUSINESS OPINION SURVEY: 38 V 32 PRIOR (multi-year high) - (NZ) New Zealand Sept Card Spending Value y/y rose 5.3% v +7.6% in Aug - Paymark - (PH) Philippines Aug Budget Balance (PHP): +21.9B v -53B prior - (UK) UK SEPT RICS HOUSE PRICE BALANCE: 54% V 45%E (multi-year high) - (UK) UK SEPT BRC SALES LFL: 0.7% V 2.0%E ***Fixed Income/Commodities/Currencies*** - (CN) PBoc to inject CNY65B in 7-day reverse repo >- (CN) PBoC sets yuan mid point at 6.1415 v 6.1220 prior close (record high setting for Yuan) - JGB: Japan Ministry of Finance (MOF) sells 299.9B CPI-linked 10-yr JGB auction, bid-to-cover ratio 3.74; First sale of linked bonds since 2008. - Yen weakened late in the day as USD/JPY pushed above the 97 handle and EUR/JPY breached 131.50, up some 40 pips from the lows. Overall USD strength seen in other dollar majors - EUR/USD and GBP/USD down about 0.2% below 1.3560 and 1.6070 respectively. AUD is outperforming after strong economic data, rising above 0.9430. ***Speakers/Political/In the Papers*** - (CN) Shanghai Commission of Commerce: sales in city's department stores, supermarkets and specialty shops CNY6.86B, +11.8% y/y during National Day holiday - Chinese press - (CN) China State Information Center: China Q4 and 2013 GDP may grow at 7.6%; sees Q4 and 2013 CPI to grow at 3.1% and 2.7%, Q4 and 2013 PPI to decline at 1.6% and 2.0% - Chinese press - (JP) Japan Fin Min Aso: US debt ceiling issue could affect global markets and world economy; decision on Japan sales tax hike to 10% needs to be made by end of 2014 - (JP) Survey finds support for Japan PM Abe cabinet declines to 6.6% to 58.6% - Sankei News - JGB: According to a BOJ study, market liquidity has "mostly recovered" from the liquidity crunch experienced 6 months ago - Nikkei News - (AU) Australia PM Abbott: Had a positive meeting with China Pres Xi at APEC; Confirms to travel to China in H1 of 2014 - Shanghai Daily - (NZ) New Zealand govt said to make a "significant" announcement on housing this week after recent warnings it is serious in reining in property market inflation - NZ press - (KR) South Korea Finance Ministry: The pace of economic recovery is accelerating - monthly economic report - (KR) South Korea Fin Min Hyun: South Korea major economic data showing recovery momentum; will closely monitor economic situation - (US) WSJ Fed watcher Hilsenrath: Fed's decision to continue bond buying followed 6 months of tense negotiations - (US) Fed's Fisher (hawk, non-voter): Favors tapering Fed monthly purchases; US firms face 'fog of uncertainty' on fiscal policy - financial press - (UK) UK British Chambers of Commerce (BCC) releases quarterly survey: polls indicate Q3 GDP 0.9-1.0% - (GR) Nearly one-third of IMF's board members raised major objections to design of record 2010 rescue in Greece - press ***Equities*** Market Snapshot (as of 03:30 GMT): - Nikkei225 -0.1%, S&P/ASX -0.5%, Kospi -0.3%, Shanghai Composite +0.3%, Hang Seng +0.3%, Dec S&P500 -0.1% at 1,665, Dec gold +0.1% at $1,326, Nov crude oil flat at $103.01/brl US markets: - CHKE: Board approves 1M share buyback program (11.9% of shares outstanding); +0.6% afterhours - TWGP: Strengthens reserves and announces Goodwill Impairment; reviewing a range of strategic options for the company; -25.8% afterhours - JMBA: Cuts FY13 company-owned SSS 3-4% (4-6% prior); provides initial FY14 forecasts; -8.1% afterhours >- TLM: Icahn discloses 5.97% stake in filing. Icahn tweets: may have conversations with management on strategic alternatives or board seats; +8.9% afterhours Notable movers by sector: - Consumer discretionary: Shanghai Oriental Pearl Group Co Ltd 600832.CN +5.6% (launches unit in Shanghai FTA); Lawson Inc 2651.JP flat (plans to sell OTC drugs) - Industrials: Fujian Longking Co Ltd 600388.CN +4.1%, Beijing SPC Environment Protection Tech 002573.CN +5.4%, Yonker Environmental Protection Co Ltd 300187.CN +3.8%, Beijing SJ Environmental Protection and New Material Co Ltd 300072.CN +6.1% (Beijing experiences fog due to air pollution); Japan Airlines Corp 9201.JP -1.7% (flight cancellations due to typhoon) - Technology: Catcher Tech 2474.TW +1.9% (Sept results; analyst action); HTC 2498.TW +0.4% (possible JV with Lenovo); Qingdao Haier Co Ltd 600690.CN +4.5% (KKR acquires 10% stake) - Healthcare: Sino Biopharmaceutical 1177.HK +1.7% (analyst action) - Telecom: ZTE Corp 763.HK +1.9% (awarded contract); China Unicom Ltd 600050.CN +4.0% (China to push forward TD-LTE) - Utilities: TEPCO 9501.JP +6.2% (high radiation levels at Fukushima facility); Oki Electric Industry Co 6703.JP +8.0% (may report improved H1 results) - 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

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  • POTENTIAL PRICE RISK: Medium Wed -- 13:30 GMT US- Weekly Jobless, Durable Goods
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John M. Bland, MBA
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EXCLUSIVE: Global-View Daily Trading Chart Points Updated

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