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Tuesday February 24, 2015 - 06:42:38 GMT
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TradeTheNews.com Asian Mid-session Update: BHP profits fall, capex reduced; RBNZ lowers inflation view - Source TradeTheNews.com

(NZ) NEW ZEALAND Q1 2-YEAR INFLATION EXPECTATION: 1.80% V 2.06% PRIOR; 1-YEAR EXPECTATION 1.11% V 1.59% PRIOR - (PH) PHILIPPINES DEC TRADE BALANCE: -$68.2M V -$381Me - (JP) JAPAN JAN PPI SERVICES Y/Y: 3.4% V 3.6%E - (AU) Australia ANZ Roy Morgan Weekly Consumer Confidence Index: 110.8 v 109.8 prior ***Index Snapshot (as of 03:30 GMT)***- Nikkei225 +0.3%, S&P/ASX +0.1%, Kospi +0.6%, Shanghai Composite closed, Hang Seng -0.6%, Mar S&P500 flat at 2,106***Commodities/Fixed Income***- Apr gold flat at $1,201, Apr crude oil +0.2% at $49.54/brl- SLV: iShares Silver Trust ETF daily holdings rise to 10,131 tonnes from 10,086 tonnes prior; highest since Jan 14th- JGB: (JP) Japan MoF sells 399.5B in 1.7% 40-yr bonds, bid to cover: 3.40x v 3.18x prior - (AU) Australia MoF (AOFM) sells A$200M in 1% indexed bonds due 2018; Avg yield of 0.0042%; Bid-to-cover: 5.03x ***Market Focal Points/FX***- Shares of BHP in Sydney are up about 3% and US ADRs were up 3.5% afterhours following mining giant's H1 report, despite net profits fall to $4.27B v $8.11B y/y and Rev sliding to $29.9B v $33.9B y/y. BHP has maintained its FY15 production guidance of 225Mt for iron ore, 73Mt for energy coal, and 255MMBOE for petroleum, also raising its interim dividend $0.62 v $0.59 y/y and cutting CapeEx by $1.8B over the next 18 months. Looking ahead, BHP said it expects sustained growth in China, stronger consumer spending in US and lower energy prices to support economic improvement in 2015.- NZD/USD is the biggest mover among USD majors, falling over 60pips below $0.7470 after RBNZ lowered its 2-yr inflation estimate by 36bps to 1.80% and 1-yr target by 48bps to 1.11%. RBNZ also noted hourly earnings growth expectations slid from 2.47% to 2.27% in the 1-year timeframe but remained around 2.6% over 2-year term. Earlier, New Zealand Institute of Economic Research (NZIER) noted that RBNZ will not be able to justify any more policy moves this year and will have to use macroprudential measures to deal with rising property prices in in Auckland. Note that RBNZ Gov Wheeler will testify as part of RBNZ Annual Report before the Parliament tomorrow.- Following overnight Nikkei feature that Japan PM Abe and BOJ Gov Kuroda may be experiencing a rift, subsequent press reports suggest the BOJ Gov has also expressed unease on plan to raise sales tax in 2017. Kuroda is said to be concerned that Japan could see another economic downturn at that time - considerations with ample precedent considering that Japan suffered a technical recession after the April 2014 consumption tax increase. USD/JPY was slightly higher in Asian session, rising about 30pips above 119.10.- In US financial sector, press reports emerged that JPMorgan may be forced to introduce new deposit fees on institutional clients including hedge funds, private equity companies and foreign banks, encouraging shift in funds to other products. Billions of dollars were rumored to be potentially affected by these rules, though the bank's spokesperson did not confirm the report. ***Equities***US markets: - CHGG: Reports Q4 $0.19 v $0.15e, R$84.4M v $86.2Me; Announces renewable agreement with Ingram Content Group Inc.; aims to move towards 100% digital revenue; +11.1% afterhours- FSLR: First Solar and SunPower plan to partner to form joint YieldCo vehicle; could subsequently launch it as an IPO; +9.1% afterhours- SF: Reports Q4 core $0.75 v $0.78e, R$578M v $588Me; Confirms deal to acquire Sterne Agee, terms not discussed; +6.7% afterhours- AGU: Reports Q4 $0.77 adj v $0.64e, R$2.71B v $3.01Be; +3.7% afterhours- BHP: Reports H1 Net $4.27B v $8.11B y/y, Rev $29.9B v $33.9B y/y; +3.4% afterhours- ESRX: Reports Q4 $1.39 v $1.38e, R$26.3B v $25.7Be; +2.6% afterhours- VIA: Said to be planning company-wide staff reductions as part of restructuring - financial press; +0.8% afterhours- JPM: Said to start charging new deposit fees to big clients; Likely to reduce deposits by "billions" - financial press; -0.2% afterhours- AMT: Reports Q4 AFFO $1.10 v $1.10e, R$1.05B v $1.04Be; -1.4% afterhours- THC: Reports Q4 $0.61 v $1.20e, R$4.47B v $4.35Be; -2.4% afterhours- WOR: Guides Q3 and Q4 lower; -5.3% afterhours- TRAK: Reports Q4 $0.42 v $0.42e, R$237.3M v $228Me; -5.9% afterhoursNotable movers by sector:- Consumer Discretionary: Skymark Airlines 9204.JP +5.9% (receives offer of support from ANA); Casio Computer 6952.JP +2.8% (plans to increase production); Flight Centre Limited FLT.AU +12.1% (H1 results)- Financials: QBE Insurance Group QBE.AU +7.1% (FY14 results); HSBC Holdings 5.HK -3.3% (FY14 results)- Materials: BC Iron BCI.AU -4.7% (H1 results); Orora Ltd ORA.AU +5.7% (H1 results); Atlas Iron AGO.AU -3.7% (H1 results)- Energy: BHP Billiton BHP.AU +2.8% (H1 results); Oil Search OSH.AU +0.5% (FY14 results); Yanchang Petroleum International 346.HK -4.9% (FY14 guidance); Oil Search Ltd OSH.AU +0.5% (FY14 results)- Industrials: Hitachi Ltd 6501.JP -0.7% (speculation on acquisition); China Fiber Optic Network System Group 3777.HK +3.5% (positive profit alert); Qube Logistics QUB.AU +9.1% (H1 results) - 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:


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
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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


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

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