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Tuesday February 25, 2014 - 06:32:15 GMT
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TradeTheNews.com Asian Market Update: Yuan remains under pressure; Nikkei recovers lost ground - Source TradeTheNews.com

- (NZ) NEW ZEALAND Q1 TWO-YEAR INFLATION EXPECTATION: 2.33% V 2.34% PRIOR - (CN) CHINA JAPAN JAN CORPORATE SERVICE PRICE INDEX Y/Y: 0.8% V 1.2%E (three months low) - (JP) JAPAN JAN CORPORATE SERVICE PRICE INDEX Y/Y: 0.8% V 1.2%E (three months low) - (TH) THAILAND JAN CUSTOMS TRADE BALANCE: -$2.52B V -$852M - (PH) PHILIPPINES DEC TRADE BALANCE: -$695M V -$550ME; 2013 TRADE BALANCE -$7.7B - (AU) Australia ANZ-Roy Morgan Consumer Confidence index in week ended Feb 23rd: -1.6% to 110.2 prior ***Highlights/Observations/Insights*** - Chinese yuan falls to 6.11 - a 4-month high - as investors ponder whether the weakness is driven by fundamentals (slowing economy), authorities' attempt to forestall excess liquidity from hot-money inflows, or political motivations and the start of a "currency war" (in response to US meddling in East China Sea and Obama's recent visit with Dalai Lama). - Overnight Shibor rates rise even as 7-day rate falls again; PBoC drains liquidity from the system for the 3rd straight day. - Korea Pres unveils 3-year economic plan; Seeks to expand recovery to achieve 4% potential GDP by 2017. - US-South Korea kick off joint military exercises which have been rebuked by the North in the past; North Korea reportedly sends naval vessel into South Korea waters in response. - Turkish lira falls about 2% amid reports of a leaked recording of a phone call between PM Erdogan and his son, implicating the leadership in a cover-up of corruption. ***Fixed Income/Commodities/Currencies*** - (CN) PBoC to drain CNY100B in 14-day repos (3rd consecutive drain) - (CN) Daily Shibor fixings: O/N: 1.7200% v 1.7000% prior (1st rise in 11 consecutive sessions); 1-week: 3.2780% v 3.3390% prior (4th consecutive decline, lowest since May 15th) - JGB: (JP) Japan MoF sells 399.2B in 1.9% 40-year bonds, bid to cover: 3.69x v 4.13x prior - (AU) Australia MoF (AOFM) sells A$200M in 1.25% 2022 Bonds; bid-to-cover: 5.36x - GLD: SPDR Gold Trust ETF daily holdings rise 3.3 tonnes to 801.6 tonnes (2nd consecutive rise; 1-week high) - SLV: iShares Silver Trust ETF daily holdings rise to 10,159 tonnes from 10,147 tonnes prior (highest since 10,163 on Dec 12th) ***Speakers/Political/In the Papers*** - (CN) China Iron Ore and Steel Association (CISA): overcapacity in steel sector likely "beyond imagination" - financial press - (CN) China Bank of Communications (BoCom): China Yuan volatility and property prices pose major risks to stock market - Chinese press - (CN) Former PBOC advisor Li Daokui: China home prices too high to be sustainable; Expects some defaults in H1 2014 - (JP) Japan BOJ Dep Gov Nakaso: Sees decreasing downside risks in overseas economies; Reiterates to adjust policy for 2% inflation target if there is change in price outlook; on track to reach 2% inflation target - (JP) Japan Trade Min Motegi: Draft energy policy to state the importance of nuclear power - finacial press - (JP) Japan Fin Min Aso: Japan aiming for the same goals as those set by the G20 - (JP) Japan Feb PM Abe cabinet approval rating 52.9% +0.8% m/m - Sankei News - (JP) Gradual correction in Japan's supply-demand gap demonstrate receding deflation - Nikkei citing latest Cabinet Office data - (KR) South Korea President Park: To raise potential growth rate to 4% in 2017; Needs to address imbalance of exports and domestic demand - comment on 3-yr economic plan - (KR) South Korea states that a North Korea naval vessel has crossed over border yesterday - financial press - (KR) South Korea-US military joint exercises started on Monday; Command post activities to proceed until Mar 6th and field activities to go until Apr 18th - Korean press - (AU) Australia Treasurer Hockey: Close to finalizing free trade deal with Japan; TPP talks proceeding well - financial press - (CA) Canada Fin Min Flaherty: Does not rule out further intervention in mortgage market, but currently has no intention to do so - (IT) Italy PM Renzi wins confidence vote in Senate, as expected; Senate votes 169 in favor against 139 - financial press ***Equities*** Market Snapshot (as of 04:30 GMT): - Nikkei225 +1.5%, S&P/ASX -0.2%, Kospi +0.7%, Shanghai Composite +0.1%, Hang Seng +0.5%, Mar S&P500 flat at 1,845, Apr gold -0.4% at $1,333, Apr crude oil -0.4% at $102.40/brl US markets: - ZU: Reports Q4 $0.10 v $0.05e, R$257M v $225Me; +11.4% afterhours - SPNC: Achieves Statistical Endpoints of EXCITE ISR Adjunct Analysis Trial; +9.5% afterhours - VVUS: Reports Q4 -$0.17 v -$0.43e, R$44.0M v $25.0Me; +4.4% afterhours - TSCO: Board approves $1B for Share Repurchases (10.7% of market cap); +2.2% afterhours - LNKD: Launches Chinese-language version on Tuesday; Aims to attract 140M new users (50% of current user base), time frame uncertain - press; +1.0% afterhours - SINA: Reports Q4 $0.47 v $0.49e, R$197M v $197Me; Chairman: Sina Weibo makes profit approx of $3M first time in Q4; Weibo daily active users 61.4M, +4% q/q - conf call; -0.8% afterhours - THC: Reports Q4 $0.43 v $0.35e, R$3.89B v $3.89Be; -3.8% afterhours - SCTY: Reports Q4 Rev $47.3M v $43.6Me; to report full Q4 results on March 3, cites accounting for acquisitions; -4.1% afterhours - PERY: Reports prelim Q4 $0.02-0.05 v $0.66e, Rev $216M v $272Me; -20.6% afterhours - RP: Reports Q4 $0.16 adj v $0.17e, R$95.5M v $104Me; -22.1% afterhours Notable movers by sector: - Consumer Discretionary: Qantas Airways QAN.AU -0.2% (comments from Australia officials) - Consumer staples: Henan Shuanghui Investment & Development 000895.CN -4.7% (FY13 results) - Financials: SFG Australia SFW.AU +2.7% (H1 results); QBE Insurance Group QBE.AU +5.3% (FY13 results) - Materials: Zhaojin Mining Industry 1818.HK +0.6% (profit warning); Shanghai ANOKY Textile Chem 300067.CN +10.0% (proposes special dividend) - Industrials: BYD Corp 1211.HK +4.0% (plans leasing business); Southern Cross Electrical Engineering SXE.AU -2.4% (H1 results) - Technology: Wangsu Science & Technology 300017.CN -10.0% (prelim FY13 results); TCL Corp 000100.CN +1.9% (FY13 results); TCL Communication Technology 2618.HK -5.6% (FY13 results); NHN 035420.KR +6.1%, Softbank 9984.JP +3.7% (speculation on stake sale to Softbank); High Tech Computer Corp 2498.TW +0.8% (considers acquisitions or repurchase program) - Healthcare: Ramsay Health Care RHC.AU +6.5% (H1 results) - Utilities: Tepco 9501.JP +0.2% (cooling system halted; Japan drafts energy policy) - Telecom: Hutchison Telecom Hong Kong 215.HK -3.4% (FY13 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:


Mon 20 Nov
14:00 EZ- Draghi Speech
15:00 US- Leading Indicators
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

  • POTENTIAL PRICE RISK: HIGH Tue -- 23:30 GMT US- Yellen Speech. Early evening. Looking for anything on policy


  • 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
  • POTENTIAL PRICE RISK: Medium Wed -- 15:30 GMT US- EIA Crude
  • POTENTIAL PRICE RISK: HIGH Wed -- 19:00 GMT US- FOMC Policy Minutes. Key policy release


John M. Bland, MBA
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EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




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