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Wednesday December 31, 2014 - 06:25:23 GMT
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TradeTheNews.com Asian Mid-session Update: China HSBC final Manufacturing PMI confirms first contraction in 7 months - Source TradeTheNews.com

(CN) CHINA DEC FINAL HSBC MANUFACTURING PMI: 49.6 V 49.5E (first contraction in 7 months) - (AU) AUSTRALIA NOV PRIVATE SECTOR CREDIT M/M: 0.5% V 0.5%E; Y/Y: 5.9% (5-year high) V 5.9%E - (KR) SOUTH KOREA DEC CPI M/M: 0.0% (first non-negative print in 4 months) V 0.0%E; Y/Y: 0.8% (lowest since Oct 2013) V 0.9%E; CPI CORE Y/Y: 1.6% V 1.6%E - (SG) SINGAPORE NOV BANK LOANS AND ADVANCES: 7.5% V 9.0% PRIOR - (SG) SINGAPORE NOV M1 Y/Y: 4.6% V 4.0% PRIOR; M2 Y/Y: 2.5% V 2.0% PRIOR ***Index Snapshot (as of 03:30 GMT)***- Nikkei225 closed, S&P/ASX -0.1%, Kospi closed, Shanghai Composite +0.7%, Hang Seng +0.2%, Mar S&P500 +0.1% at 2,078***Commodities/Fixed Income***- Feb gold +0.1% at $1,201, Feb crude oil -0.6% at $53.80/brl, Mar Copper flat at $2.85/lb- GLD: SPDR Gold Trust ETF daily holdings fall 1.5 tonnes to 712.3 tonnes; Lowest level since Sept 2008 - (US) API PETROLEUM INVENTORIES: CRUDE: +0.76M (smallest build in 4 weeks) v -0.5Me, GASOLINE: +1.7M v +1.5Me, DISTILLATE: +0.31M v +1.5Me ***Market Focal Points/Key Themes/FX***- Trading conditions are particularly light in the final session of 2014. In Japan, Nikkei225 was already closed for holidays after registering its 3rd consecutive year of gains, while Korea was also closed and Australia was out early. A press report out of Japan speculated the govt issuance of JGBs in FY15 would fall to 37T, below 41.3T budgeted for this year and below 40T for the first time in 6 years. In Korea, central bank Gov Lee pledged to keep monetary policy accommodative in 2015, even as Fin Min Choi forecasted next year's economic performance to improve due to lower oil price and govt policies. Australia put out its November private sector lending, showing a 5-year high rate of increase y/y at 5.9%. Housing credit growth was particularly impressive, rising another 0.6% on the month, while personal and business credit components both rose 0.2%.- Shanghai Composite was an outperformer in the early going and only added to its gains in the afternoon session with a near 2% rally retesting the 3,200 level. China HSBC final manufacturing PMI for December confirmed the first contraction in 7 months but also fared a 0.1pt better than expected, supporting the mainland index while also boosting AUD/USD to session high above 0.82. HSBC economist Qu remarked that price contraction deepened, and coupled with weaker economic activity, stronger disinflationary pressures warrant further monetary easing in the coming months. Separately, a Chinese press report reiterated 2015 GDP target could be formally set at 7% and 2016 below 7%. In the property space, a research note out of China Academy of Social Sciences (CASS) forecasted 2015 property price decline of another 5%.***Equities***US markets: - NRX: Announces Positive Results for QT Study of Pyridorin; +118.3% afterhours- MIG: Fosun to Acquire Meadowbrook Insurance Group for $433M; +18.5% afterhours- HNH: Submits proposal to acquire JPS Industries (ticker: JPST) For $10.00/shr in cash; +1.4% afterhoursNotable movers by sector:- Industrials: CSR 1766.HK +29.3%, CNR 6199.HK +42.8% (CSR, CNR to merge; resume trading) - 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:

Thu 16 Nov
01:30 AU- Employment
09:30 GB- Retail Sales
10:00 EZ- final HICP
14:15 US- Industrial Production
Fri 17 Nov
13:30 CA- Retail Sales, CPI
13:30 US- Housing Starts and Permits

Forex Trading Outlook


Potential Trading Opportunities


  • POTENTIAL PRICE RISK: HIGH to Medium Wed -- 20:30 GMT AU- Employment data.

  • POTENTIAL PRICE RISK: HIGH Thu -- 09:30 GMT GB- Retail Sales.

  • POTENTIAL PRICE RISK: Mediun Thu -- 10:00 GMT EZ- final HICP. ECB targets inflation.

  • POTENTIAL PRICE RISK: Medium Thu -- NY Morning US- Import Prices, Philly Fed, Industrial, Production, NAHB. Usually not major movers.


  • POTENTIAL PRICE RISK: HIGH to Medium Fri -- 13:30 GMT CA- Retail Sales and CPI.

  • POTENTIAL PRICE RISK: HIGH to Medium Fri -- 13:30 GMT US- Housing Starts and Permits.



John M. Bland, MBA
co-founding Partner, Global-View.com

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