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Wednesday October 23, 2013 - 07:58:41 GMT
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TradeTheNews.com Asian Market Update: 1-year high in Australia CPI gives AUD an added boost***Observations/Insights*** - Source TradeTheNews.com

US earnings season kicks into higher gear with more disappointing results in the tech space - BRCM, ALTR, JNPR all down in extended session on soft guidance. >- Australia Q3 CPI rises to a 1-year high on sequential basis with a fairly even split between tradable and non-tradable components, sending AUD to multi-week highs against USD and NZD. AUD/USD and AUD/JPY rise above $0.9750 and 99.50 respectively - both at the highest level since early June. AUD/NZD hits a 6-week high above NZ$1.1490, with some relative NZD weakness following comments from Fin Min English talking down the currency. S&P/ASX at the highest levels since late 2008. - PBoC continues to stay out of the way of upward bias on the yuan; USD/CNY set at a fresh record lows, just as China Premier talks down market concerns regarding govt debt levels while investors await the formal findings of a state-sanctioned audit. - BOJ governor enthused by the progress made on inflation; Local press speculates cabinet office will not raise its economic assessment in October; Japan earnings season formally opens tomorrow with results from Canon. ***Economic Data*** - (AU) AUSTRALIA Q3 CONSUMER PRICES (CPI) Q/Q: 1.2% (1-year high) V 0.8%E; Y/Y: 2.2% V 1.8%E - (AU) AUSTRALIA SEPT DEWR SKILLED VACANCIES M/M: 0.5% V 0.6% PRIOR (4th consecutive month of increase) - (AU) AUSTRALIA AUG CONFERENCE BOARD LEADING INDEX M/M: -0.2% V +0.2% PRIOR - (US) API PETROLEUM INVENTORIES: CRUDE: +3M (4th consecutive build) v +2Me ***Fixed Income/Commodities/Currencies*** - (JP) BOJ offers to buy 250B in 1-3yr JGB, 350B in 3-5 yr JGB, 200B in JGB with maturity over 10-yr - SLV: iShares Silver Trust ETF daily holdings fall to 10,367 tonnes (lowest since 10,284 on July 23rd) from 10,391 tonnes prior - GLD: SPDR Gold Trust ETF daily holdings rise 6.6 tons to 878.3 tonnes (first rise since 9/19) >- USD/CNY: (CN) PBoC sets yuan mid point at 6.1330 v 6.1395 prior setting (new Yuan record high setting) ***Speakers/Political/In the Papers*** - (CN) China Premier Li Keqiang: China govt debt is broadly safe and under control - Chinese press >- (CN) China may issue new property curbs policies in Q4 - Chinese press - (JP) Japan PM Abe: Will move steadily towards fiscal health targets - addressing parliament - (JP) Bank of Japan (BOJ) gov Kuroda: BOJ easing effects are materializing; Japan is gradually moving towards 2% inflation target - adressing parliament - (JP) Japan Cabinet Advisor: Japan will not be able to persuade markets unless inflation target is achieved by monetary policy alone - financial press - (JP) Japan govt expected to maintain economic assessment unchanged for Oct - Nikkei News - (AU) NAB head of Australia economics Brooker: Still in environment where price increases are soft - SMH - (KR) Bank of Korea (BOK) Gov Kim: South Korea should prepare for changes in external conditions - financial press - (NZ) New Zealand Fin Min English: govt shares concern on exchange rate value ***Equities*** Market Snapshot (as of 03:30 GMT): - Nikkei225 +0.2%, S&P/ASX +0.2%, Kospi -0.3%, Shanghai Composite -0.9%, Hang Seng +0.3%, Dec S&P500 -0.2% at 1,746, Dec gold -0.3% at $1,339, Nov crude oil -1.6% at $97.62/brl US markets: - CREE: Reports Q1 $0.39 v $0.39e, R$391.0M v $393Me; -13.4% afterhours >- IRBT: Reports Q3 $0.26 v $0.26e, R$124.5M v $127Me; -9.5% afterhours - USNA: Reports Q3 $1.16 v $1.14e, R$173.7M v $169Me; -8.7% afterhours - BRCM: Reports Q3 $0.76 v $0.69e, R$2.15B v $2.13Be; -8.1% afterhours - ALTR: Reports Q3 $0.37 v $0.34e, R$445M v $452Me; -6.0% afterhours - PNRA: Reports Q3 $1.35 v $1.35e, R$572.5M v $585Me; -3.1% afterhours - JNPR: Reports Q3 $0.33 v $0.31e, R$1.19B v $1.17Be; -1.8% afterhours - CNI: Reports Q3 C$1.72 (adj) v C$1.58e, Rev C$2.7B v C$2.6Be; Authorizes new share repurchase program (4.1% of shares outstanding), two-for-one stock split; -0.1% afterhours - ACE: Reports Q3 $2.49 v $2.22e, net premiums earned $4.61B v $4.67B y/y; +0.1% afterhours - AMGN: Reports Q3 $1.94 v $1.77e, R$4.75B v $4.61Be; raises FY13 outlook; +1.5% afterhours - SWY: Buyout firms said to be interested in buying Safeway either as a whole or in parts - financial press; +4.1% afterhours >- APOL: Reports Q4 $0.55 ex items v $0.25e, R$845M v $823Me; +15.8% afterhours - GLW: Reports prelim Q3 $0.33 v $0.32e, $2.1B v $2.1B; Strengthens Strategic Collaboration with Samsung; Corning authorizes additional $2B share repurchase program (approx 10% of market cap) ; +25.8% afterhours Notable movers by sector: - Consumer discretionary: Jtekt Corp 6473.JP -2.2% (cuts H1 guidance) - Consumer staples: Beijing Sanyuan Foods Co Ltd 600429.CN -10.0% (Q3 results) - Industrials: Nidec Corp 6594.JP +6.4% (H1 results) Nippon Paint Co 4612.JP -2.8% (to delist from Nagoya Exchange); China Railway Construction Corp Ltd 1186.HK +0.5% (to sell stake in JV); Fuji Heavy Industries Ltd 7270.JP +1.0% (speculation on expansion); Chengdu Road & Bridge Engineering Co Ltd 002628.CN +10.1% (awarded contract); Sichuan Guodong Construction Co Ltd 600321.CN +3.1%, Sichuan Expressway Co Ltd 107.HK +4.4% 601107.CN +10.0%, Sichuan Road & Bridge Co Ltd 600039.CN +10.0% (Sichuan Province plans large scale investment) - Materials: Discovery Metals DML.AU -9.6% (Q3 production results) - Financials: Ping An Bank Co Ltd 000001.CN +4.6% (Q3 results) - Healthcare: Jiangzhong Pharmaceutical Co Ltd 600750.CN -5.2% (Q3 results); China National Medicines Corp Ltd 600511.CN +4.7% (Q3 results) - Telecom: ZTE Corp 763.HK -4.6% (Q3 results) - Utilities: Huaneng Power International Inc 600011.CN -5.1% (Q3 results); TEPCO 9501.JP +1.2% (cost reduction plans) - 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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