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TradeTheNews.com Asian Mid-session Update: Shanghai Composite enters technical correction, down 10% from peak; BOJ stays on course without any additional dissent ***Economic Data*** - Source TradeTheN

- (JP) BANK OF JAPAN (BOJ) POLICY STATEMENT: MAINTAINS ITS MONETARY BASE AT ANNUAL PACE OF ¥80T (AS EXPECTED); Maintains overall economic assessment - (NZ) NEW ZEALAND MAY ANZ CONSUMER CONFIDENCE INDEX: 119.9 V 123.9 PRIOR; M/M: -3.2% V -3.8% PRIOR - (NZ) NEW ZEALAND MAY ANZ JOB ADVERTISEMENTS M/M: +0.1 V -1.3% PRIOR (first increase in 3 months) - (KR) South Korea May PPI Y/Y: -3.5% v -3.6% prior; 10th straight decline ***Index Snapshot (as of 03:30 GMT)***- Nikkei225 +0.8%, S&P/ASX +1.3%, Kospi +0.5%, Shanghai Composite -2.0%, Hang Seng +1.0%, Sep S&P500 -0.1% at 2,112***Commodities/Fixed Income***- Aug gold -0.2% at $1,199/oz, Jul crude oil -0.2% at $60.35/brl, Jul copper flat at $2.61/lb- USD/CNY: PBoC sets yuan mid point at 6.1104 v 6.1126 prior setting; strongest Yuan setting since May 19th - (US) Weekly Fed Balance Sheet Total Assets for week ending June 17th: $4.49T v $4.47T prior; M1 y/y change: 7.8.% v 8.0% prior; M2 y/y change: 5.9.% v 6.0% prior***Market Focal Points/FX***- Asian indices are generally higher, picking up on the firm tone from Wall St where traders continued to express a bullish post-FOMC view. Shanghai Composite is once again an outsized decliner however. After a near-4% slide overnight, the index fell by as much as 3% in the afternoon session. The lows also corresponded with the 10% drop from its high, which is widely considered to be the indication of a technical correction. Overnight, local press report put some of the blame for the selloff on the large IPO pipeline this week freezing up as much as CNY7T in investment funds.- After much speculation that today's BOJ decision will reveal a growing rift within the policy board, the announcement produced no such ripple. Bank of Japan reiterated it would maintain annual monetary base expansion at ¥80T, kept its assessment of economy continuing moderate recovery unchanged, and also repeated rate of CPI would remain around 0% due to recent decline in energy. The only change made was a slight boost to the BOJ's assessment of the housing market now seen as "started to pick up". The BOJ also reduced the number of its official meetings each year to just 8 from 14 but increased the number of instances when it publishes its GDP/CPI projections from 2 to 4.- Greek uncertainty will remain on the forefront of investors worries on conflicting developments heading into the US close. One widely cited press report warned there's chatter of Greek banks not opening on Monday, though EU officials have denied that was a possibility. Bank of Greece also requested an increase to emergency ELA funds ceiling, and the ECB will hold an emergency meeting to consider that request later on Friday. Recall earlier this week the ECB has already raised that ceiling from €83B to €84.1B. EU's Dijsselbloem comments also weighed on the single currency, stating he believes Greece is still moving in the direction of a euro exit.***Equities***US/ADRs afterhours:- CAG: Jana Partners discloses 7.2% stake, may seek 3 board seats - 13D filing; +6.7% afterhours - REXX: Announces Sale of Keystone Clearwater Solutions for about $130M; +2.0% afterhours - RHT: Reports Q1 $0.44 v $0.41e, R$481M v $472Me; -2.2% afterhours - SWHC: Reports Q4 $0.45 v $0.35e, R$181M v $170Me; Guides Q1 $0.21-0.23 v $0.29e, Rev $140-145M v $147Me; -4.9% afterhours - HWAY: Cuts FY15 R$770-785M v $809Me ($800-25M prior); -26.0% afterhours Asia-Pac equity news by sector:- Financials: SCE Property +3.5% (positive profit alert)- SourceTradeTheNews.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
US/JP- Holiday
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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
  • 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
co-founding Partner, Global-View.com

EXCLUSIVE: Global-View Daily Trading Chart Points Updated

EXCLUSIVE: Global-View Free Forex Database updated




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