Forex News Blog
Back to The Headlines
Share This Story
TradeTheNews.com Asian Mid-session Update: Japan trade deficit more narrow than expected; Greece says the money for IMF repayment does not exist - Source TradeTheNews.com
- (JP) JAPAN APR MERCHANDISE TRADE BALANCE: -¥53.4B V -¥351.1BE; ADJ TRADE BALANCE: -¥208.7B V -¥386.8BE ***Index Snapshot (as of 02:30 GMT)***- Nikkei225 +0.7%, S&P/ASX +1.2%, Kospi closed, Shanghai Composite +2.0%, Hang Seng closed, Jun S&P500 flat at 2,125***Commodities/Fixed Income***- Jun gold flat at $1,204/oz, Jul crude oil +0.2% at $59.86/brl, Jul copper -0.1% at $2.81/lb- (IR) Iran Oil Minister: OPEC unlikely to change production ceiling at its upcoming meeting in June - financial press - USD/CNY: PBoC sets yuan mid point at 6.1165 v 6.1131 prior setting; weakest Yuan setting since May 6th - (JP) BOJ offers to buy ¥375B in 1-3yr JGBs, ¥375B in 3-5 yr JGBs, and ¥400B in 5-10yr JGBs ***Market Focal Points/FX***- In spite of the hotter than expected CPI data out of the US on Friday and a late session-selloff on Wall St, Asian indices are tracking higher despite the implications of a potentially more proactive Federal Reserve. With US markets on holiday this Monday and conditions thinned by holiday closures in Korea and Hong Kong, investors are also looking ahead to Tuesday's forward looking durables data and Friday's release of 2nd estimate of US GDP.- EUR/USD saw some early session weakness with a 40pip drop below 1.0970, as the standoff between Athens and European creditors appears to have taken a turn for the worse. Greek media report citing Interior Minister indicated Greece will not have the money to repay €1.6B to the IMF next month unless a new deal with creditors is reached. Likewise, PM Tsipras reiterated there is a limit to what Greek govt is prepared to accept from the creditors. And even if the standoff does result in a stalemate, a referendum is not likely to break the ice - according to a weekend poll, 59% of respondents support govt position of not giving in to European creditors, but 71% still want to keep the Euro. German-led creditors are hardly budging also - Fin Min Schaeuble speaking to German press said there is no need to discuss "alternatives" on Greece, as Athens needs to deliver what it promised.- Economic data out of the far east was limited to Japan's April merchandise trade. Despite returning into deficit, trade balance was much better than expected at -¥208.7B V -¥386.8BE on adjusted basis. Shipments to US were particularly strong, rising by over 20% once again, while shipments to China slowed to 2.4% growth from 3.9% in prior the month. Crude oil imports were higher by 9% after a 15% drop last time, but lower prices kept the imports component bill relatively lower. USD/JPY saw some follow-through bids from Friday's higher US CPI figures, rising another 20pips toward 121.80.- ECB forum on central banking in Portugal drew the heads of the BOJ, ECB, and Fed vice chair Fischer. ECB's Draghi continued to call for quicker transition to economic and monetary union in the euro zone, citing "strong divergences remaining in terms of unemployment, growth, and productivity" as dangerous. BOJ's Kuroda remarked that a proactive monetary policy could help ease the implementation of structural reform. Fed's Fischer commentary was notably more reserved, indicating that while there is temptation on the FOMC to discuss structural reform, policymakers skirt around the topic.***Equities***US equities / ADRs:- TWC: Charter said to prepare offer large premium for Time Warner Cable - FT - AMZN: Said to have changed tax practices in Europe; Will pay taxes in individual countries rather than funnel payments to low-rate Luxembourg - financial press- FCAU: CEO Marchionne had approached GM about a merger in March but was rebuffed - NY Times - ETSY: Company's sellers have been targeted by an email from Amazon, promoting their handcraft-goods marketplace - financial pressNotable movers by sector:- Consumer discretionary: Guangdong Qtong Education 300359.CN -10.0% (CSRC to crack down stock manipulation); Skilled Group SKE.AU +11.8% (enters into talks with Programmed)- Financials: Greattown Holdings Ltd 600094.CN +6.9% (to set up investment firm)- Industrials: Aerospace Communications Holding 600677.CN +10.0% (to invest in IT companies)- Materials: Evolution Mining EVN.AU +4.4% (to acquire Cowal gold mine); Sirius Resources SIR.AU +22.5%, Independence Group IGO.AU -9.4% (Independence to acquire Sirius); Fortescue Metals Group FMG.AU +3.6%, BC Iron BCI.AU +1.9% (rumors of foreign interest)- Healthcare: Healthscope HSO.AU +2.0% (to sell pathology business)- Utilities: Tokyo Electric Power Co Inc 9501.JP +5.1% (won bid for project in Qatar) - Source TradeTheNews.com
Forex Trading News
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
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."
Elevate Your Trading With The Amazing Trader!
The Amazing Trader includes:
Upgrade Your Trading experience. Try the Amazing Trader
- Actionable trading levels delivered to YOUR charts in real-time.
- Live trading strategy sessions.
- Market Updates with Trading Tools.
Trading Ideas for 15 January 2018
Upgrade Your Trading. Try The Amazing Trader
Amazing Trader EVENT RISK Calendar:
Mon 15 Jan 2018
00:00 US- Holiday
Tue 16 Jan 2018
09:00 GB- CPI
20:00 US- Beige Book
Wed 17 Jan 2018
00:30 AU- Employment
02:00 CN- GDP
10:00 EZ- final HICP
14:15 US- Industrial Production
15:00 CA- Bank of Canada Decision
Thu 17 Jan 2018
13:30 US- Weekly Jobless
13:30 US- Housing Starts/Permits
16:00 US- EIA Crude
Fri 18 Jan 2018
09:30 GB- Retail Sales
15:00 US- University of Michigan (prelim) Survey
PROSPECTIVE Trading Opportunities
- POTENTIAL PRICE RISK: HIGH- Tue -- 09:30 GMT-- GB- CPI
- POTENTIAL PRICE RISK: HIGH- Wed -- 00:30 GMT-- AU- Employment
- POTENTIAL PRICE RISK: Medium- Wed -- 10:00 GMT-- EZ- Final HICP
- POTENTIAL PRICE RISK: HIGH to Medium- Wed --14:15 GMT-- US- Industrial Production
- POTENTIAL PRICE RISK: HIGH- Wed -- 15:00 GMT-- CA- Bank Of Canada Decision
John M. Bland, MBA
co-founding Partner, Global-View.com
Max McKegg's Daily Forex Trading Forecasts
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.
Request a TRIAL of Max's Forex Service.