Share This Story:
|
|
Email
TradeTheNews.com Asian Mid-session Update: AUD slides as RBA keeps the door on further rate cuts open; Rio Tinto iron ore output declines - Source TradeTheNews.com
- (AU) Australia ANZ Roy Morgan Weekly Consumer Confidence Index: 108.8 v 109.8 prior ***Index Snapshot (as of 02:30 GMT)***- Nikkei225 +0.8%, S&P/ASX +0.6%, Kospi flat, Shanghai Composite -0.2%, Hang Seng +1.4%, Jun S&P500 +0.2% at 2,094***Commodities/Fixed Income***- Jun gold +0.1% at $1,195/oz, Jun crude oil -0.4% at $57.63/brl, May copper flat at $2.73/lb- SLV: iShares Silver Trust ETF daily holdings rise to 10,150 tonnes from 10,105 tonnes prior; Highest since Mar 22nd - (CN) PBoC won't conduct open market operations (OMO) in today's session (1st halt after 15 consecutive injections) ***Market Focal Points/FX*** - After the jawboning by RBA Gov Stevens reassuring investors regarding the likelihood of further policy easing during the early US session, the release of the latest RBA meeting minutes have signalled just as much. Recall this month's meeting was a rather close call - although a narrow majority favored a hold at 2.25%, fixed income markets tipped well on the side of another rate cut. Instead, the minutes relayed that RBA saw an advantage to awaiting more data, including the quarterly inflation figures which incidentally will be released tomorrow. RBA added that household consumption and home building have picked up, but GDP growth would likely remain below trend. Moreover, the central bank saw non-mining business investment as softer than expected, with the possibility of continued decline this year. RBA did acknowledge that excessively low rates risk the fuelling of housing market imbalances. AUD/USD fell nearly 30pips on the release toward $0.7680, also re-approaching parity with NZD.- Rio Tinto put out its first quarter production figures, showing a 12% sequential slide in iron ore shipments. The miner attributed the decline to weather-related disruptions from the cyclone as well as a train derailment blocking port traffic. Production of copper also fell 10% y/y, while output of coking coal rose 10%. Rio Tinto still affirmed its 2015 target of 350M tonnes of iron ore, along with production of alumina and copper.- Japan Econ Min Amari remarked there were still gaps in Trans-Pacific Partnership trade discussions, particularly in heavily guarded areas of autos and agriculture. Further ministerial talks can still be held, however both Amari and US Trade Rep Froman said they are allowing working level officials to tackle the remaining issues. Froman also added some momentum toward agreement has been achieved.***Equities***US equities / ADRs:- LRCX: Reports Q3 $1.40 v $1.30e, R$1.39B v $1.37Be; +9.6% afterhours- FTNT: Reports Q1 $0.08 v $0.06e, R$213M v $204Me; +9.4% afterhours- IBM: Reports Q1 $2.91 v $2.84e, R$19.6B v $19.7Be; +0.2% afterhours- CNI: Reports Q1 C$0.86 v C$0.75 y/y, Rev C$3.10B v C$2.69B y/y; flat afterhours- RCI: Reports Q1 $0.53 v $0.49e, RC$3.18B v C$2.56Be; -0.3% afterhours- HRL: Discusses Impact of Recent Avian Influenza Outbreaks; Maintains FY15 guidance of $2.50-2.60, with expectation earnings toward the lower end; -0.9% afterhours- ZION: Reports Q1 $0.37 v $0.36e, R$539.2M v $553Me; -1.0% afterhours- BMI: Reports Q1 $0.29 v $0.40e, R$83.6M v $88.3Me; -4.3% afterhours- SANM: Reports Q2 $0.50 v $0.52e, R$1.53B v $1.61Be; -10.5% afterhoursNotable movers by sector:- Materials: Rio Tinto RIO.AU +1.6% (Q1 production results)- Energy: China Shenhua Energy 1088.HK -0.5% (Mar coal production results); Ausdrill ASL.AU +3.6% (awarded contract)- Industrials: Leighton Holdings LEI.AU +1.4% (Q1 results); WDS Ltd WDS.AU +4.2% (amends contract)- Technology: Brambles Limited BXB.AU -2.8% (9-month results); NEC Corp 6701.JP +1.0% (speculation on FY15/16 results)- Utilities: Yaskawa Electric 6506.JP -3.9% (FY14/15 results)- Telecom: China Mobile 941.HK +4.6% (Q1 results); China Unicom 762.HK +2.6% (Mar op results) - 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."
RSS News Feed
We are starting an affiliate program to market some of our products.
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.
