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OverviewTitle:
Asian Market Update : 02/05/2012
China PMI supports soft landing, USD stronger against the yen and euro
Economic Data
(CN) CHINA APR HSBC MANUFACTURING PMI: 49.3 V 48.3 PRIOR (6th month of contraction)
(JP) JAPAN MAR LABOR CASH EARNINGS Y/Y: 1.3% V 0.2%E (highest since Jul 2010)
(NZ) NEW ZEALAND APR ANZ COMMODITY PRICE: -4.5% V -1.7% PRIOR
(KR) SOUTH KOREA APR HSBC MANUFACTURING PMI: 51.9 V 52.0 PRIOR
(JP) JAPAN APR MONETARY BASE Y/Y: -0.3% V -0.2% PRIOR (2nd consecutive y/y decline)
(TH) THAILAND APR CONSUMER CONFIDENCE ECONOMIC: 67.5 V 66.5 PRIOR
(TW) TAIWAN APR HSBC MANUFACTURING PMI: 51.2 V 54.1 PRIOR
(RU) RUSSIA APR MANUFACTURING PMI: 52.9 V 50.8 PRIOR
(IN) INDIA APR MARKIT MANUFACTURING PMI: 54.9 V 54.7 PRIOR
Markets Snapshot (as of 04:30GMT)
Nikkei225 +0.4%
S&P/ASX +0.2%
Kospi +0.8%
Taiwan Taiex +2.0%
Singapore ...
Title:
Dukascopy Afternoon Forex Overview : 01/05/2012
Fundamental Analysis
EUR
Anti-austerity protestors are likely to hold massive demonstrations in May Day. Demonstrations in Athens that involve private and public sector strikes have already disrupted the public transport. However, the traditional violence is not expected as Greeks are likely to show their protest against austerity measures on Sunday when the general elections are due.
USD
Crude and Brent oil dropped as lifted US energy inventories outweighed supply concerns caused by export disruptions in Yemen, Sudan and North Sea.
GBP
Manufacturing sector in the UK performed worse than initially expected in April, reported research group Markit. UK's manufacturing PMI declined to 50.5 last month on a seasonally adjusted basis as compared to a March reading of 52.1. Experts ...
Title:
Dukascopy Morning Forex Overview : 01/05/2012
Fundamental Analysis
EUR
"We fear things are likely to get worse before they get better"
- Martin van Vliet, a senior euro-region economist at ING Bank
Spain sank into recession in the first quarter of 2012. The economy contracted 0.3 per cent, after shrinking by the same amount in the previous quarter, Madrid-based National Statistics Institute data showed on Monday.
USD
"What was encouraging was that the income numbers improved. Our expectation is that job growth does increase gradually"
- Peter Newland, an economist at Barclays Capital Inc.
U.S. consumer spending was boosted by higher than expected incomes, said the Bureau of Economic Analysis on Monday. Household purchases increased 0.3 per cent. Incomes gained 0.4 per cent, the most in three months.
GBP
"This is year three of a ...
Title:
Asian Market Update : 01/05/2012
Economic Data
(AU) RESERVE BANK OF AUSTRALIA (RBA) CUTS CASH TARGET RATE BY 50BPS TO 3.75%, MORE THAN EXPECTED
(CN) CHINA APR PMI MANUFACTURING: 53.3 V 53.6E (5th consecutive m/m increase; 13-month high)
(KR) SOUTH KOREA APR EXTERNAL TRADE BALANCE: $2.15B V $3.0BE
(KR) SOUTH KOREA APR CONSUMER PRICE INDEX (CPI) M/M: 0.0% V 0.3%E; Y/Y: 2.5% V 2.8%E (multi-month low); CORE CPI Y/Y: 1.8% V 1.9% PRIOR
(NZ) NEW ZEALAND Q1 AVERAGE HOURLY EARNINGS Q/Q: 1.3% V 0.0% PRIOR; PRIVATE WAGES EXCLUDING OVERTIME: 0.5% V 0.6%E; INCLUDING OVERTIME: 0.5% V 0.5%E
(AU) AUSTRALIA MAR RPDATA-RISMARK HOUSE PRICE ACTUAL: -0.8% V 0.2% PRIOR (3-month low)
(AU) AUSTRALIA Q1 HOUSE PRICE INDEX Q/Q: -1.1% V -0.5%E (fifth consecutive quarter of decline); Y/Y: -4.5% V -3.9%E
(ID) INDONESIA MAR TOTAL TRADE BALANCE: $840M ...
Title:
Dukascopy Afternoon Forex Overview : 30/04/2012
Fundamental Analysis
EUR
Unemployment in Spain approached a new record of 5.64 million in March while the jobless rate topped 24.4%, reported the national statistics office. Analysts expect the Spain's officials to confirm that the country is falling into recession. Meanwhile, retail sales in the country declined by 3.7% in March on an annual basis.
USD
US consumer spending surged in March, adding to the previous gains as incomes increased. Household purchases that account about 70% of the US economy surged by 0.3%, following a 0.9% increase in February. Experts projected consumer spending to rise by 0.4%. Meanwhile, incomes eased up 0.4%, indicating the largest increase in the last three months.
GBP
UK home value accelerated in April, the second straight month, Hometrack Ltd said on ...
Title:
Dukascopy Morning Forex Overview : 30/04/2012
Fundamental Analysis
EUR
"Once we hit the 6.5 per cent mark , the alarm bells will go off loudly in Brussels and more rhetoric will be coming from the European Central Bank"
- Adrian Miller, a global markets strategist at GMP
The rating agency Standard & Poor’s has downgraded Spain’s credit rating by two notches to BBB-plus with a negative outlook from A, citing expectations the government finances will deteriorate.
USD
"While the economy continued to grow in the first quarter, the expansion remains modest in pace and subpar from a historical perspective"
- Jim Baird, chief investment strategist at Plante Moran Financial Advisors
The U.S. economy grew at a slower pace than forecast in the first quarter as businesses cut on investment. Gross domestic product increased at a 2.2 per cent ...
Title:
Asian Market Update : 30/04/2012
Yen at 2-month highs in the wake of disappointing BOJ and sluggish US GDP
Economic Data
(AU) AUSTRALIA MAR PRIVATE SECTOR CREDIT M/M: 0.4% V 0.3%E; Y/Y: 3.4% V 3.2%E
(AU) AUSTRALIA MAR HIA NEW HOME SALES M/M: -9.4% V +3.0% PRIOR (multi-year low)
(AU) AUSTRALIA APR TD SECURITIES INFLATION M/M: 0.3% V 0.5% PRIOR; Y/Y: 1.9% V 1.8% PRIOR
(NZ) NEW ZEALAND MAR BUILDING PERMITS M/M: 19.8% V 6.0%E
(NZ) NEW ZEALAND APR NBNZ ACTIVITY OUTLOOK: 36.1 V 38.8 PRIOR; BUSINESS CONFIDENCE: 35.8 V 33.8 PRIOR (8-month high)
(NZ) NEW ZEALAND MAR TRADE BALANCE (NZ$) 134M V 417ME
(KR) SOUTH KOREA MAR INDUSTRIAL PRODUCTION M/M: -3.1% V +0.2%E; Y/Y: 0.2% V 2.2%E
(KR) SOUTH KOREA MAY BUSINESS SURVEY MANUFACTURING: 90 V 85 PRIOR; NON MANUFACTURING: 85 V 82 PRIOR
(SI) SINGAPORE Q1 UNEMPLOYMENT RATE PRELIM: 2.1% V 2. ...
Title:
Dukascopy Afternoon Forex Overview : 27/04/2012
Fundamental Analysis
EUR
Spain's credit rating was lowered by Standard & Poor's for a second time in 2012 on enduring worries the nation will have to apply additional fiscal backing to lenders as the economy shrinks. S&P cut its long term grade for Spain from A to BBB+ adding a negative outlook. Country's short term rating was lowered from A-1 to A-2, S&P agency reported on Thursday.
USD
Crude oil price declined from almost 4-week high in New York trade after S&P ratings agency cut Spain's sovereign credit rating, boosting concerns that further recession in Europe may halt demand for crude. Oil to be delivered in June lost USD 0.61, reaching USD 103.94 a barrel. June Brent oil gave up USD 0.49 and traded at USD 119.43 a barrel.
GBP
Today the Great Britain Pound extended its gains ...
Title:
Asian Market Update : 27/04/2012
S&P cuts Spain; BOJ increases JGB facility by net ¥10T, reduces fixed-rate ops by ¥5T
Economic Data
(KR) SOUTH KOREA MAR CURRENT ACCOUNT: $3.0B V $557M PRIOR; GOODS BALANCE: $3.00B V $1.31B PRIOR
(UK) UK APR GFK CONSUMER CONFIDENCE SURVEY: -31 V -30E
(JP) JAPAN APR MARKIT/JMMA MANUFACTURING PMI: 50.7 V 51.1 PRIOR
(JP) JAPAN MAR JOBLESS RATE: 4.5% V 4.5%E; JOB-TO-APPLICANT RATIO: 0.76 V 0.76E PRIOR
(JP) JAPAN MAR NATIONAL CPI Y/Y: 0.5% V 0.4%E; NATIONAL CORE Y/Y 0.2% V 0.1%E (6-month high); APR TOKYO CPI Y/Y: -0.3% V -0.1%E; TOKYO CORE Y/Y: -0.5% V -0.3%E (5-month low)
(JP) JAPAN MAR OVERALL HOUSEHOLD SPENDING Y/Y: 3.4% V 4.1%E (2-year high)
(JP) JAPAN MAR PRELIMINARY INDUSTRIAL PRODUCTION M/M: 1.0% V 2.3%E;
(JP) JAPAN MAR RETAIL TRADE M/M: -1.2% V -0.5%E ; Y/Y: 10.3% V 10.0%E (multi-year ...
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