Forex News Blog
Back to The Headlines
Share This Story:
 |
 |
Email
TradeTheNews.com Asian Market Update: Japan merchandise trade hits record deficit despite weaker Yen; China markets still under pressure on manufacturing, credit worries - Source TradeTheNews.com
(JP) JAPAN DEC MERCHANDISE TRADE BALANCE: -¥1.30T V -¥1.24TE (record 18
straight month of deficits); ADJUSTED TRADE BALANCE: -¥1.15T V
-¥1.34TE; 2013 Japan annual trade gap of ¥11.47T (record deficit) vs
¥6.94T y/y
- (NZ) NEW ZEALAND DEC PERFORMANCE SERVICES INDEX: 57.5 V 55.8 PRIOR
- (KR) SOUTH KOREA JAN CONSUMER CONFIDENCE: 109 V 107 PRIOR (3-year
high)
- (JP) BANK OF JAPAN (BOJ) RELEASES MINUTES FROM DEC 19-20 MEETING:
Japan economy recovering moderately; Japan exports lacks momentum
***Observations/Insights***
- Asian equity markets are in the red across the board, tracking
outsized losses in US indices on Friday. Nikkei225 led the decliners
again in the morning session, falling well over 2% amid further risk-off
Yen-strength. Separately, Japan merchandise trade deficit came in above
a trillion yen for December, while calendar 2013 deficit was record
high due to mounting energy costs. BOJ Gov Kuroda speaking at Davos
remained resolute in terms of Japan achieving the central bank's 2%
inflation target in a 2-year time frame.
- Hong Kong's Hang Seng is down just over 2% and Shanghai Composite fell
over 1% in the morning session before recovering some ground going into
the afternoon break. Analysts continued to point at the surprise
contraction in the HSBC manufacturing flash PMI that got the selloff
started last week. Some additional focus also fell on troubling press
reports pertaining to the China credit mechanism - a Forbes feature
noted PBoC has ordered commercial banks to halt cash transfers during
the holiday week and a separate report forecasted ICBC's "China Credit
Trust" would not be able to repay CNY3.0B due on loans this Friday, with
the govt determined to reign in risky lending. Later in the day, PBoC's
Shanghai branch was reported to strengthen liquidity management and
step up monitoring of risks in local govt financing vehicles (LGFV) and
property loans.
***Fixed Income/Commodities/Currencies***
- (JP) BOJ offers to buy ¥400B in 5-10yr JGB and ¥20B in inflation index
bonds
- (CN) Daily Shibor fixings: O/N: 4.5340% v 4.4000% prior (5th
consecutive rise); 1-week: 4.6890% v 4.7170% prior
- (KR) South Korea sells 20-yr govt bonds, avg yield 3.805%
- Despite the persistent weakness in regional equity indices, initial
risk-off sentiment in the currency markets has reversed by the
afternoon. USD/JPY opened around 101.80 before rising above 102.50,
while AUD/JPY has erased an initial 30pip drop to 88.50 to rise above
89.50. AUD/USD is also up about 50pips from session lows above 0.8730.
EUR/USD and GBP/USD traded in narrow 20pips ranges above 1.3670 and
1.6480.
***Speakers/Political/In the Papers***
- (CN) Follow-up reports indicating ICBC's "China Credit Trust" may not
be able to repay CNY3.0B due on loans this Friday, leading to un
"unprecedented default" in China's shadow banking system - financial
press
>- (CN) PBoC Shanghai branch to strengthen liquidity management -
financial press
- (CN) China National Development and Reform Commission (NDRC) may
control pork prices at appropriate time - Chinese press
- (CN) China's port of Tianjin to become the 4th city to impose a formal
quota on the number of new vehicle license plates; New policy taking
effect this month - Shanghai Daily
- (CN) According to Deovolente Realty Co, Shanghai pre-owned home sales
for 2013 rose 58.8% y/y to 293K units, 8-year high - Shanghai Daily
- (CN) Shanghai Stats Bureau: Shanghai 2013 GDP grew 7.7% vs 7.5% in
2012, in line with national average - Shanghai Daily
- (JP) BOJ's Kuroda: optimistic about economic growth and inflation
outlook; Japan should reach its 2% inflation target within a two year
time frame - Davos comments
- (JP) Japan coast guard sights three China vessels near disputed
Senkaku island territory - Japanese press
- (JP) A panel under Japan's Ministry of Economy, Trade and Industry to
submit its recommendations today aimed at bringing Japan's accounting
standards closer to those of the U.S. and Europe - Nikkei
- (JP) Japan PM Abe cabinet approval rating rises to 56.6% vs 55.9%
prior in Dec - Kyodo News
- (JP) Japan, US agree to continue close work for early end to TPP talks
- financial press
- (KR) South Korea Ministry of Oceans and Fisheries: Container cargo
handling at South Korean seaports in 2013 rose 0.8% y/y to 1.35B tons -
Korean press
- (KR) South Korea Ministry of Land, Infrastructure, and Transports:
Nationwide land prices rose 1.1% in 2013; Number of transactions rose
9.6% - Korean press
- (KR) South Korea Financial Service Commission (FSC): South Korea to
increase market monitoring over volatility in fx market
- (NZ) Westpac: RBNZ has little to gain from a rate hike this week but
much to lose - NZ press
**Europe/MENA**
- (EU) IMF's Lagarde: Reiterates Eurozone inflation is "way below
target"; Deflation poses a risk for EMU - press citing comments from
Davos
- (ES) Spain Econ Min De Guindos: Govt looking to increase corporate tax
revenue by doing away with some of companies' exemptions - Spanish
press
- (EG) Egyptian police fired tear gas and clashed with protesters in
Cairo on Saturday, leading to 49 deaths - press
- (UR) Ukraine protests appear to be spreading throughout the country -
financial press
***Equities***
Market Snapshot (as of 04:30 GMT):
- Nikkei225 -2.3%, S&P/ASX closed, Kospi -1.5%, Shanghai Composite
-0.7%, Hang Seng -2.1%, Mar S&P500 +0.2% at 1,786, Apr gold +0.5% at
$1,271, Mar crude oil flat at $96.66/brl
US markets:
- GOOG: Said to acquire artificial intelligence company DeepMind for
about $400M - financial press
Notable movers by sector:
- Consumer Discretionary: Anhui Jianghuai Automobile 600418.CN +0.4%
(FY13 guidance); Sichuan Changhong Electric 600839.CN +2.3% (FY13
guidance)
- Financials: China Pacific Insurance Group 2601.HK -3.2% (FY13
guidance)
- Materials: Liuzhou Iron & Steel 601003.CN +0.5% (prelim FY13
results); Chu Kong Petroleum & Natural Gas Steel Pipe Holdings
1938.HK -6.2% (profit warning)
- Energy: China Coal Energy 1898.HK -3.5%, China Shenhua Energy 1088.HK
-3.1%, Yanzhou Coal 1171.HK -3.4% (China Coal Energy issues profit
warning)
- Industrials: ANA Holdings 9202.JP -1.8% (press report on 9M results);
Fuji Heavy Industries 7270.JP -2.0% (press report on 9M results); Isuzu
Motors 7202.JP -2.9% (press report on 9M results); Hino Motors 7205.JP
-4.4% (press report on 9M results)
Related (UPDTE ) - Source TradeTheNews.com
Forex Trading News
Forex Research
Daily Forex Market News
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.
Forex News
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."
|
|
Actionable trading levels delivered to YOUR charts in real-time.
Register To Test Your Amazing Trader
GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium
GVI Trading. Potential Price Risk Scale
AA: Major, A: High, B: Medium
Mon 16 Apr 2018
AA 12:30 US- Retail Sales
Tue 17 Apr 2018
AA 08:30 GB- Employment
A 09:00 DE- ZEW Survey
A 12:30 US- House Starts/Permits
A 13:15 US- Industrial Production
Wed 18 Apr 2018
AA 01:30 AU- Employment
AA 14:00 CA- BOC Decision
AA 14:30 GB- EIA Crude
Thu 19 Apr 2018
A 13:30 US- Weekly Jobless
A 14:00 US- Leading Indicators
Fri 20 Apr 2018
A 12:30 CA- CPI/Retail Sales
John M. Bland, MBA co-founding Partner, Global-View.com
Start trading with forex broker Markets Cube
Max McKegg's Daily Forex Trading Forecasts
Veteran FX Trader, Max McKegg, forecasts all the Major currencies and the Australasians; providing Daily and Medium Term Trading forecasts to subscribers, who include large Banks the world over, as well as individual traders in more than 30 different countries.
Request a TRIAL of Max's Forex Service.
|
pic
|
|
|
 |
|