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Monday October 21, 2013 - 05:51:16 GMT
Trade the News Staff - www.tradethenews.com/freetrial.asp?gv

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TradeTheNews.com Asian Market Update: Japan posts record H1 trade deficit, Asian shares broadly higher; traders await US data - Source TradeTheNews.com

- Asian markets were broadly higher with Australia's S&P/ASX hitting fresh five-year highs earlier in the session, tracking record gains on Wall Street, and on the possibilities that the US will further raise the chances more monetary stimulus. - Australia stocks surged above the 5,330 level to hit their highest levels since 2008 due to the strong performances in miners. - The Nikkei continued to be supported by a weaker yen after Japan posted a record trade deficit streak of 15 months. Shipments from Japan's largest trade partner China rose by 30.9% to a record high of 1.68T. The USD/JPY was around the 98-handle retreating from the lows of Friday, and raised some of the major exporters. - The markets will be carefully monitoring the slew of US data expected this week following delays due to the partial US government shutdown, with non-farm payrolls report scheduled for Tuesday. ***Economic Data*** *(JP) JAPAN SEPT MERCHANDISE TRADE BALANCE: -932.1B V -918.6BE (record 15th consecutive deficit ); ADJUSTED MERCHANDISE TRADE BALANCE: -1.1T V -1.1TE - (NZ) NEW ZEALAND SEPT CREDIT CARD SPENDING M/M: -0.1% V +1.4% PRIOR; Y/Y: 5.2% V 6.6% PRIOR - (NZ) NEW ZEALAND SEPT NET MIGRATION: 2.7K V 2.2K PRIOR - (UK) UK OCT RIGHTMOVE HOUSE PRICES M/M: 2.8% V -1.5% PRIOR; Y/Y: 3.8% V 4.5% PRIOR ***Fixed Income/Commodities/Currencies*** - (CN) PBoC sets yuan mid point at 6.1352 v 6.1372 prior setting (new yuan high setting since July 2005 revaluation) - (CN) PBoC gauges demand for 7-day, 14-day reverse repos, 28-day repos and 91-day bill sales - (JP) BOJ offers to buy 400B in 5-10yr JGB and 140B in floating rate notes - (KR) South Korea sells 10-yr govt bonds, avg yield 3.455% v 3.495% Sept 15th ***Speakers/Political/In the Papers*** - (JP) Bank of Japan (BOJ) gov Kuroda: BOJ to continue easing until inflation rate 2% is stable - BOJ branch managers meeting - (JP) Japan restarts of nuclear facilities may be postponed to FY14 - Japanese press - (JP) S&P sovereign analyst Ogawa: Near-term economic prospects of Japan look fine - (JP) Japan Coast Guard sighted three China vessels near the disputed Senkaku Islands - Kyodo News - (JP) Japan LDP Sec Gen Ishiba: Yen on path to return to suitable level - (CN) China needs further promotion of market reform for real estate industry - Chinese press - (CN) China Premier Li Keqiang: to strengthen economic reform and structural adjustment in Q4 - press - (HK) Hong Kong starts to trade first cross-border and cross-market ETF which can invest in stocks dual listed in Mainland and Hong Kong - press - (KR) South Korea exports +2.9% y/y, imports +1.7% y/y in the first three weeks of Oct - (KR) South Korea to loosen policy on foreign stock short- selling - press - (US) Moody's: US Q4 GDP may lose a few tenths of point on govt shutdown - financial press - (UK) BOE's Broadbent: Further inflation shocks possible not expected; rate hike only after recovery is on secure footing - financial press - (DE) German Finance Ministry releases monthly report: Sept industry output could be moderate; economy to grow in H2 ***Equities*** Market Snapshot (as of 03:30 GMT): - Nikkei225 +0.6%, S&P/ASX +0.6%, Kospi +0.5%, Shanghai Composite +1.1%, Hang Seng +0.6%, Dec S&P500 +0.1% at 1,738, Dec gold +0.3% at $1,317, Nov crude oil flat at $100.85/brl US markets: - JPM: JP Morgan and DOJ reach tentative $13B civil settlement agreement to resolve multiple investigations, the largest fine ever against an individual company - press - CCI: To acquire rights to approx 9,700 AT&T towers for $4.85B in cash; to contribute $245-255M to 2014 FFO adj - AAPL: Increases iPhone 5S output by 75% while lowering 5C output by 35% - tech blogs - BAC: FHFA said to be seeking $6B in penalties - FT - OMX: Office Depot, OfficeMax merger expected to be approved by the trade commission - financial press Notable movers by sector: - Consumer discretionary: Next Media 282.HK +6.8% (stops publication of free press) - Consumer staples: Yantai Changyu Pioneer Wine Co Ltd 000869.CN -0.4% (negative press comments) - Industrials: Zhuzhou CSR Times Electric Co Ltd 3898.HK -5.1% (issues shares; analyst action); CNR Co Ltd 601299.CN +4.4% (awarded contract); Suzuki Motor Corp 7269.JP +2.8%, Toyota Motor Corp 7203.JP +0.5%, Yamaha Motor 7272.JP +1.5% (Japan autos higher on weaker yen) - Materials: China Minmetals Rare Earth Co Ltd 000831.CN -1.7% (Q3 results); Yunnan Copper Co 000878.CN -3.7% (provides Q3 guidance); Jiangxi Copper Company Ltd 600362.CN +0.3%, Tongling Nonferrous Metals Group Co Ltd 000630.CN -0.7%, Shenzhen Zhongjin Lingnan Nonfemet Co Ltd 000060.CN +0.6% (Yunnan Copper provides weak guidance) - Energy: AusTex Oil Ltd AOK.AU +7.7% (issues shares to fast track project); WestSide Corp Ltd WCL.AU (quarterly results) - Financials: Wharf Holdings Ltd 4.HK +1.0% (FY13 guidance) - Utilities: TEPCO 9501.JP -1.5% (rain outflow at Fukushima) - Healthcare: Shanghai Fosun Pharmaceutical Group Co Ltd 2196.HK +13.5% (sells intellectual properties; receives positive comments) - 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
Thu 23 Nov
US/JP- Holiday
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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


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