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Friday August 1, 2014 - 05:07:38 GMT
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TradeTheNews.com Asian Market Update: China PMIs mixed as Asia digests the sharp decline on Wall St - Source TradeTheNews.com

(CN) CHINA JULY FINAL HSBC MANUFACTURING PMI: 51.7 V 52.0E (18-month high) - (CN) CHINA JULY MANUFACTURING PMI: 51.7 V 51.4E (5th consecutive rise; highest since Apr 2012) - (AU) AUSTRALIA Q2 PPI Q/Q: -0.1% V +0.9% PRIOR (1st negative reading in 9 quarters); Y/Y: 2.3% V 2.5% PRIOR - (AU) AUSTRALIA JUL AIG PERFORMANCE OF MANUFACTURING INDEX: 50.7 V 48.9 PRIOR (first expansion in 9 months) - (JP) JAPAN JUL FINAL MARKIT/JMMA MANUFACTURING PMI: 50.5 V 50.8 PRELIM - (KR) SOUTH KOREA JUL TRADE BALANCE: $2.5B V $3.0BE - (KR) SOUTH KOREA JUL HSBC MANUFACTURING PMI: 49.3 (3rd consecutive contraction; lowest reading since Aug) V 48.4 PRIOR - (KR) SOUTH KOREA JUL CPI M/M: 0.1% V 0.2%E; Y/Y: 1.6% V 1.7%E ***Index Snapshot (as of 02:30 GMT)*** - Nikkei225 -0.3%, S&P/ASX -1.4%, Kospi -0.1%, Shanghai Composite -0.1%, Hang Seng -0.6%, Sept S&P500 +0.3% at 1,930 ***Commodities/Fixed Income/Currencies*** - Dec gold +0.2% at $1,284, Sept crude oil -0.2% at $97.99/brl, Sept Copper flat at $3.23/lb - (US) National Hurricane Center (NHC): TS Bertha forms in the Atlantic, east of the southern lesser Antilles; TS warning issued - (JP) BOJ offers to buy 110B in JGB with maturity under 1-yr and 400B in 5-10yr JGB as well as 3T in T-bills - (AU) Australia MoF (AOFM) sells A$500M in 2018 Bonds; Avg yield: 2.9200%; Bid-to-cover: 3.97x - (US) Weekly Fed Balance Sheet Total Assets Week ending July 30th: $4.41T v $4.41T prior; M1 y/y change: 11.2% (1-year high) v 11.1% w/w; M2 y/y change: 6.6% v 6.6% w/w - USD/CNY: (CN) PBoC sets yuan mid point at 6.1681 v 6.1675 prior setting (weakest Yuan setting since Jun 5th, 3rd consecutive weaker setting) ***Market Focal Points/Key Themes*** - US stocks fell on heavy volume as bullish sentiment soured from the hawkish tinges in the latest Fed statement, lower CPI figure from Europe, and a surprising drop in Chicago PMI. S&P500 index fell 2% - the biggest drop since mid-April - to 1,930 on highest volume in about a month, while the Vix spiked to a 3-month high at about 17 level. Among the notable companies reporting results, Tesla was flat afterhours despite beating estimates and forecasting 100K unit sales in 2015. Extreme high-flyer GoPro cratered by nearly 10% despite topping consensus, but LinkedIn rose 7.5% on a strong beat and raised FY guidance. - Twin China manufacturing PMIs were identical at 51.7 - the official topping consensus and HSBC Final missing by the same 0.3pct margin. In the official print, new orders component hit its highest level this year to 53.6, with other sectors also improving moderately. NBS researcher noted July demand indicative of rapid growth, but also warned about the risks in the smaller sectors. HSBC final figure was still an 18-month high at 51.7. HSBC economist acknowledged downward revisions in several subindices but still said economy is improving sequentially, expecting the impact of policy stimulus to continue to filter in the coming months. - As casualties in Gaza mounted amid reports of shelling of another UN refugee center, a 72-hour ceasefire was declared effective 8am local time. Palestinian, Israeli, and US officials are headed to Cairo in hopes of ironing out a more lasting truce, though subsequent reports indicated Abbas will not attend and Hamas leadership will not have direct access to the counterparties as Egypt leads the mediation proceedings. Late on Thursday, more casualties were reported on both sides, just before the official start of the ceasefire. - Argentina situation is also tenuous at best despite reports of US bankers leading the efforts to purchase debt in question from the holdout creditors. Late in US session, Fitch lowered Argentina rating to Restricted Default (RD) and Moody's changed its outlook on its CAA1 rating to negative. Pres Fernandez said Argentina must defend the interests of the nation and would be open to negotiations, but still offering to pay holdouts under previous swap terms. - Ahead of next week's BOJ policy meeting, local press noted increasing divergence of views among the board members. Specifically, the report latched on to commentary from BOJ's Kiuchi overnight hinting that the 2% inflation target could be unattainable. Separately, PM Abe was once again rumored to consider a cabinet reshuffle in the 1st week of September. ***Equities*** US markets: - PMCS: Reports Q2 $0.09 v $0.08e, R$126.8M v $125Me; +7.7% afterhours - LNKD: Reports Q2 $0.51 v $0.39e, R$534M v $512Me; Raises FY guidance; +7.5% afterhours - EXPE: Reports Q2 $1.03 v $0.80e, R$1.49B v $1.44Be; Raises FY14 EBITDA +16-19% (prior +13-16%); +4.5% afterhours - MHK: Reports Q2 $2.21 v $2.20e, R$2.05B v $2.08Be; +3.0% afterhours - MCHP: Reports Q1 $0.68 v $0.67e, R$531.3M v $527Me; +1.3% afterhours - WU: Reports Q2 $0.36 v $0.36e, R$1.41B v $1.42Be; flat afterhours - TSLA: Reports Q2 $0.11 v $0.04e, non-GAAP Rev $858M v $802Me; sees Q3 deliveries at 9.0k units ; -0.1% afterhours - OUTR: Reports Q2 $1.42 v $1.40e, R$549M v $557Me, Cuts FY14 guidance; -1.0% afterhours - EEP: Reports Q2 $0.21 v $0.23e, R$1.87B v $2.15Be; -1.3% afterhours - BYD: Reports Q2 $0.05 v $0.07e, R$722.5M v $737Me; -2.8% afterhours - SPWR: Reports Q2 $0.28 v $0.25e, R$621M v $623Me, Affirms FY14 guidance; -5.1% afterhours - YRCW: Reports Q2 -$0.16 v $0.04e, R$1.32B v $1.30Be; -9.3% afterhours - GPRO: Reports Q2 $0.08 v $0.06e (GAAP -$0.24), R$244.6M v $237Me; -9.7% afterhours - ADNC: Reports Q2 -$0.10 v -$0.12e, R$37.5M v $38.5Me, Guides Q3 -$0.37 to -$0.43 v +$0.01e, R$25-28M v $45Me; -9.8% afterhours Notable movers by sector: - Consumer Discretionary: Nippon Television Holdings 9404.JP -5.4% (Q1 results); Skymark Airlines 9204.JP -6.5% (Q1 results) - Consumer staples: Nippon Meat Packers 2282.JP +7.0% (Q1 results) - Materials: Doray Minerals DRM.AU -5.7% (production update); Lynas LYC.AU -13.2% (quarterly production) - Energy: Tohoku Electric 9506.JP +3.4% (Q1 results) - Industrials: China Rongsheng Heavy Industries Group 1101.HK -1.9% (H1 guidance); Hyundai Motor 005380.KR -1.6% (update on wage talks); Mazda Motor Corp 7261.JP +2.7% (Q1 results); Okuma Corp 6103.JP -6.7% (Q1 results); NGK Insulators 5333.JP+9.1 % (Q1 results); NTN 6472.JP -5.2% (Q1 results); Daihatsu Motor 7262.JP -3.6% (Q1 results) - Technology: Sony Corp 6758.JP +5.7% (Q1 results); Transcosmos 9715.JP -5.8% (Q1 results); Ushio 6925.JP -6.1% (Q1 results); Seiko Epson Corp 6724.JP -3.1% (Q1 results); MediaTek 2454 +5.0% (Q2 results, Q3 guidance) - Healthcare: Guangzhou Baiyunshan Pharmaceutical 600332.CN +8.2% (may receive approval for drugs); Guilin Layn Natural Ingredients Corp 002166.CN +10.0%, Shandong Lukang Pharma 600789.CN +10.0% (Ebola virus continues to get attention) - Utilities: China Suntien Green Energy Corp 956.HK -10.3% (profit warning) - Telecom: SmarTone Telecommunications 315.HK -2.5% (H1 guidance) - 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
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 Trading Opportunities


  • 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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