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TradeTheNews.com Asian Mid-session Update: China CPI underwhelming as investors look ahead to MSCI decision - Source TradeTheNews.com
- (CN) CHINA MAY CPI Y/Y: 1.2% V 1.3%E; 4-month low - (CN) CHINA MAY PPI Y/Y: -4.6% V -4.5%E; 39th straight month of decline - (JP) JAPAN MAY MONEY STOCK M2 Y/Y: 4.0% (15-month high) V 3.6%E; M3 Y/Y: 3.3% V 3.0%E - (AU) AUSTRALIA MAY NAB BUSINESS CONFIDENCE: 7 (9-month high) V 3 PRIOR; CONDITIONS: 7 (7-month high) V 4 PRIOR - (AU) AUSTRALIA MAY ANZ JOB ADVERTISEMENTS M/M: 0.0% V 2.5% PRIOR - (AU) AUSTRALIA APR HOME LOANS M/M: +1.0% V -2.0%E - (NZ) NEW ZEALAND MAY QV HOUSE PRICES: 9.0% V 8.3% PRIOR; 15-month high - (NZ) NEW ZEALAND Q1 MANUFACTURING ACTIVITY Q/Q: -2.8% V -1.0% PRIOR; MANUFACTURING ACTIVITY VOLUME Q/Q: -0.3% V 0.6% PRIOR - (NZ) New Zealand MAY ANZ Heavy Truckometer m/m: -1.1% v -0.5% prior (4 consecutive month of decline) - (UK) UK MAY BRC SALES LFL Y/Y: 0.0% V +1.2%E ***Index Snapshot (as of 02:30 GMT)***- Nikkei225 -0.7%, S&P/ASX +0.3%, Kospi +0.1%, Shanghai Composite -0.2%, Hang Seng -0.7%, Jun S&P500 +0.1% at 2,080***Commodities/Fixed Income***- Aug gold +0.1% at $1,175/oz, Jul crude oil +0.5% at $58.40/brl, Jul copper +0.2% at $2.70/lb- (CN) PBoC won't conduct open market operations (OMO) in today's session (15th consecutive halt) - (AU) Australia MoF (AOFM) sells A$200M in 2025 indexed Bonds; avg yield: 0.6870%; bid-to-cover: 3.62x ***Market Focal Points/FX***- Asian indices traded mixed, with Shanghai Composite once again rolling over going into its midday break. After last week's near-9% gains and yesterday's rally, caution abounds, particularly as investors await the decision on whether MSCI will will include China 'A' shares in its Emerging Markets Index. Note that the inclusion could also be partial or full. China inflation figures out at the open of trade should keep the PBoC easing bias intact. Consumer price index retreated to a 4-month low of 1.2%, and even food component slowed to 1.6% from 2.7%. YTD, CPI of 1.3% remains well below the official forecast of 3% for 2015. - Australia's S&P/ASX traded about 20points on either side of 5,500. Economic datapoints were largely mixed, with a rise in NAB Business Confidence to a 9-month high countered by softer ANZ job ads data. ANZ economist said the "slightly weaker result is in line with relatively soft confidence across both the household and business sectors", adding the consumer confidence "remains below long-term average levels, weighed down by elevated unemployment and a soft labour market."- In Japan, Econ Min Amari tempered enthusiasm over the optimism related to yesterday's better than expected GDP data, noting the Q1 pace of growth is not sustainable. Amari heeded close monitoring of CAPEX component. On currency, he noted it was important for FX to move in line with fundamentals in a stable manner. - Trading in USD majors was also generally rangebound after a very volatile US session where US Pres Obama had to quash the rumors that he made remarks over his preference for weaker dollar. USD/JPY traded about 15pips on both sides of 124.50, while AUD/USD was in a 40pip range around $0.77 with little reaction to either China inflation or Australia economic data. Ahead of the RBNZ decision later this week, NZD/USD was on the back foot with a 40pip drop toward $0.71, with fixed income markets tipping slightly in favor of a rate cut.***Equities***US equities / ADRs:- FCAU: Said to be working with activist hedge funds to convince GM of merger - financial press; +4.8% afterhours- PLAY: Reports Q1 $0.46 v $0.37e, R$222.7M v $216Me; +3.8% afterhours- PG: Henkel & Co and Coty make binding offers to buy P&G's beauty business, potentially valuing assets at up to $12B; +0.2% afterhours- FDX: *RAISES DIVIDEND 25% to $0.25/shr from $0.20/shr (implied yield 0.5%); +0.2% afterhours - NEM: Intends to purchase Cripple Creek & Victor Mine in Colorado for $820M in cash from AngloGold Ashanti; -1.3% afterhours- NBIX: Provides Update on NBI-77860 Program for Congenital Adrenal Hyperplasia; FDA place program on partial clinical hold; -5.0% afterhoursNotable movers by sector:- Consumer discretionary: Bright Dairy & Food 600597.CN +10.0% (private placement); Recall Holdings REC.AU +3.1% (acquisition)- Financials: Guotai Junan International Holdings 1788.HK -2.4% (to tighten margin trade); CITIC Securities 6030.HK -3.5% (issue new H shares); Agile Property Holdings 3383.HK -0.6% (May result)?China Merchants Securities Co 600999.CN -1.8% (approval to issue H shares)?Evergrande Real Estate Group 3333.HK -0.4% (May result); Industrial Bank Co 601166.CN -1.9% (branch manager illegal fundraising); Poly Real Estate Group Co 600048.CN -1.5% (May result)- Industrials: Hyundai Motor Co 005380.KR +0.7% (seeks to cut costs); CRRC 601766.CN -5.9% - Technology: HTC Corp: 2498.TW -10.0% (lowers guidance); Taiwan Semiconductor Manufacturing 2330.TW +0.7% (guidance); Mesoblast Ltd MSB.AU -2.8% (Phase 2 trial result); Skyworth Digital 751.HK +1.7% (May result); Hundsun Technologies Inc 600570.CN +10.0% (acquisition)- Materials: Newcrest Mining NCM.AU -0.9% (reaffirms guidance) - Source TradeTheNews.com
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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
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- POTENTIAL PRICE RISK: HIGH- Tue -- 09:30 GMT-- GB- CPI
- POTENTIAL PRICE RISK: HIGH- Wed -- 00:30 GMT-- AU- Employment
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- 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
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