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Friday April 24, 2015 - 05:46:36 GMT
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TradeTheNews.com Asian Mid-session Update: CSRC stamps out rumors of rising taxes; Nasdaq hits record highs - Source TradeTheNews.com

- (JP) JAPAN MAR PPI SERVICES Y/Y: 3.2% V 3.3%E - (KR) SOUTH KOREA APR CONSUMER CONFIDENCE: 104 V 101 PRIOR ***Index Snapshot (as of 02:30 GMT)***- Nikkei225 -0.8%, S&P/ASX +1.4%, Kospi -0.2%, Shanghai Composite -0.2%, Hang Seng +0.2%, Jun S&P500 +0.1% at 2,107***Commodities/Fixed Income***- Jun gold -0.2% at $1,191/oz, Jun crude oil -0.5% at $57.48/brl, May copper +0.1% at $2.6955/lb- SLV: iShares Silver Trust ETF daily holdings rise to 10,209 tonnes from 10,150 tonnes prior; Highest since Jan 12th - USD/CNY: PBoC sets yuan mid point at 6.1241 v 6.1281 prior setting (strongest yuan setting since Jan 20th) - (CN) PBoC Gov Zhou: China targets global use of Yuan - Chinese press - (JP) BOJ offers to buy 240B in 10-25yr JGBs and 140B in JGBs with maturity over 25-yr and 140B in floating rate JGBs as well as 2.5T in T-bills - (AU) Australia MoF (AOFM) sells $700M in 4.25% bonds due 2026; Avg yield: 2.5891%; Bid-to-cover: 3.69x - (US) Weekly Fed Balance Sheet Total Assets for week ending Apr 15th: $4.49T v $4.49T prior; M1 y/y change: 9.1% v 9.3% w/w; M2 y/y change: 6.2% v 6.2% w/w ***Market Focal Points/FX***Asian indices are mixed despite another resounding rally on Wall St that saw the Nasdaq test 15 year highs last seen at the crest of the dot-com bubble. China markets are particularly volatile, with Shanghai Composite initially falling over 1.5% at -the open on earlier rumors that the govt is looking to raise stamp tax, resume capital gains tax, and control equity market leverage. CSRC denied that speculation after the open, helping mainland shares recover toward unchanged levels. Also of note out of CSRC, the regulator approved 25 IPOs and plans to process two batches (vs 1 currently) of IPOs every month. All of today's new issuances traded limit up in early going. Heading into the midday break, comments out of the state planner NDRC further boosted sentiment, promising to increase policy adjustments, approve more construction of large infrastructure projects, and generally support the economy. NDRC remarked China can keep economic growth within trend.BOJ Gov Kuroda spoke again in Parliament, noting the output gap is now around zero but will improve in the future. Kuroda reiterated trend inflation is improving steadily as expectations for higher prices take hold. Fin Min Aso also said BOJ will carry out its monetary easing, though Japan is no longer in deflationary state. Separately, Japan govt made what will likely be seen as a controversial proposal in its energy policy objections, calling for nuclear energy accounting 20-22% by 2030. Renewable energy would be 22-24% vs 11% last FY, Nat gas would fall to 27% from 43% and coal to 26% from 30% currently. In USD majors, NZD remains particularly heavily sold after comments from RBNZ's McDermott overnight clarified the central bank has a more pronounced easing bias. NZD/USD fell over 50pips below $0.7550, AUD/USD was down about 30pips below $0.7770, and USD/JPY traded in a 20-pip range below Y119.70. Ahead of tomorrow's Eurogroup meeting in Riga on Greece, expectations are extremely subdued, even though Germany's Merkel voiced the importance of getting Greece on track of a sustainable aid program. PM Tsipras remained optimistic following today's preliminary discussions, noting "significant progress was made recently in discussions with the Brussels group", and that negotiators are closer to agreement than previously thought.***Equities***US equities / ADRs:- LOOK: Announces Spin-Off and Definitive Merger Agreement with Pyxis; +23.8% afterhours- AMZN: Reports Q1 -$0.12 v -$0.14e, R$22.7B v $22.5Be; +6.8% afterhours- JNPR: Reports Q1 $0.32 v $0.31e, R$1.07B v $1.04Be; +6.3% afterhours- SBUX: Reports Q2 $0.33 v $0.33e, R$4.56B v $4.51Be; +4.2% afterhours- GOOGL: Reports Q1 $6.57 v $6.63e, R$13.9B v $13.9Be; +3.5% afterhours- MSFT: Reports Q3 $0.61 v $0.51e, R$21.7B v $21.0Be; Sees FX headwinds impacting Rev by 3pct in Q4; Guides Q4 commercial licensing Rev $10.5-10.6B - conf call comments; +3.4% afterhours- NEM: Reports Q1 $0.35 (adj) v $0.22e, R$1.97B v $1.97Be; +3.2% afterhours- DNKN: To enter MidCap 400 Index; WD To enter S&P SmallCap600 Index; +2.3% afterhours- COF: Reports Q1 $1.97 v $1.88e, R$5.65B v $5.68Be; +0.5% afterhours- KLAC: Reports Q3 $0.84 v $0.76e, R$738.5M v $728Me; To cut 10% of workforce, terms related to workforce cut not disclosed; +0.3% afterhours- RHI: Reports Q1 $0.58 v $0.57e, R$1.21B v $1.22Be; +0.2% afterhours- HBI: Reports Q1 $0.22 v $0.22e, R$1.21B v $1.23Be; -2.3% afterhours- CBI: Reports Q1 $1.21 v $1.14e, R$3.12B v $3.37Be; -2.4% afterhours- ALTR: Reports Q1 $0.31 v $0.32e, R$435.5M v $471Me; -2.8% afterhours- MKTO: Reports Q1 -$0.20 v -$0.21e, R$46.0M v $45.4Me; -2.9% afterhours- SYNA: Reports Q3 $1.65 v $1.57e, R$478M v $472Me; -3.4% afterhours- P: Reports Q1 -$0.12 v -$0.16e, R$231M v $225Me; -4.3% afterhours- VRSN: Reports Q1 $0.74 v $0.76e, R$258.4M v $259Me (2 ests); -4.4% afterhours- AWAY: Reports Q1 $0.11 v $0.13e, R$119.0M v $121Me; -13.7% afterhours- UBNT: CFO resigns; Prelim Q3 $0.47 v $0.49e; R$ "about" $147.5M v $153Me; -13.7% afterhours- AERI: Reports Initial Rhopressa Phase 3 Efficacy Results; trial Did Not meet its primary efficacy endpoint; -65.5% afterhoursNotable movers by sector:- Consumer Discretionary: Nomura Research Institute 4307.JP +4.6% (FY14/15 results)- Financials: Shanghai Jinfeng Investment 600606.CN +10.0% (Greenland fully injects assets into Jinfeng); AIA Group 1299.HK -0.9% (Q1 results); Ping An Bank 000001.CN -2.3% (Q1 results)- Materials: Beadell Resources: Lynas Corp LYC.AU +9.1% (Q3 results); Mount Gibson Iron MGX.AU +7.7% (Q3 results)- Energy: Paladin Energy PDN.AU -0.7% (Q3 production results)- Industrials: Sumitomo Chemical 4005.JP +6.4% (raises FY14/15 forecast)- Technology: ZTE Corp 763.HK +6.6% (Q1 results); TCL Corp 1070.HK -5.1% (Q1 results)- Utilities: Sinohydro Group 601669.CN +10.0% (FY14 results; to issue shares to acquire assets from parent company)- Telecom: China Unicom 762.HK +2.2% (Q1 results) - Source TradeTheNews.com

 

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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
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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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EXCLUSIVE: Global-View Daily Trading Chart Points Updated

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