NZD at new multimonth highs after strong retail sales; JPY strengthens on leaked G20 communique draft with no currency focus
Economic Data
Economic Data
- (NZ) NEW ZEALAND Q4 RETAIL SALES EX-INFLATION Q/Q: 2.1% V 1.4%E
- (NZ) NEW ZEALAND JAN NON-RESIDENT BOND HOLDINGS: 66.7% V 64.0% PRIOR
- (JP) Japan investors sold net ¥645B in Foreign Bonds last week vs sold net ¥370B prior week; Foreign Investors bought net ¥212.9B in Japan stocks last week vs bought net ¥419.5B in prior week
- (CL) CHILE CENTRAL BANK LEAVES NOMINAL OVERNIGHT RATE TARGET UNCHANGED AT 5.00%; AS EXPECTED
- Nikkei225 -1.6%
- S&P/ASX +0.1%
- Kospi -0.1%
- Shanghai Composite closed
- Hang Seng +0.9%
- Mar S&P500 -0.1% at 1,516
- Apr gold flat at $1,632/oz
- Mar Crude Oil +0.1% at $97.38/brl
New Zealand continue string of positive data; Stronger than expected retail sales follow eight-month high manuf PMI yesterday, sending NZD/USD to new multi-month highs and AUD/NZD to new multi-year lows
Fed Balance sheet about $3T.
Yen seesaws on comments from various Japan officials, rising after Amari said no target for Nikkei225 (backtracking from weekend comments), then falling after LDP party member endorsed currency devaluation as a policy.
G20 draft communique leading JPY stronger late in the day; USD/JPY falls below ¥92.20 after report hints no specific mention of currency in the statement.
G20 meeting kicks off in Russia today, where a meteorite shower appears to have stricken in the resource-rich Urals region.
Happy Valentine's Day to all our readers!
Speakers/Political/In the Papers
- (JP) Japan PM Abe: Nears selection for next BoJ gov, decision could come in the next few days; Toshiro Muto still said to be the leading candidate - financial press
- (JP) Japan Econ Min Amari: No target for Nikkei225 index; PM Abe is carefully considering BOJ candidates; ability will be more important than background - financial press
- (JP) Nomura raising Japan Real GDP growth forecast to 2.0% from 1.8%
- (JP) Japan LDP Min Kozo Yamamoto: currency devaluation spurs growth - financial press
- (AU) RBA's Edwards: AUD is very high and hurting exporters; does not want another boom in household consumption
- (AU) Australia Treasurer Swan: Economic recovery is not yet self sustaining; global uncertainty continues to impact region - financial press
- SLV: iShares Silver Trust ETF daily holdings rise to 10,521 tons from 10,494 tons prior (highest since Jan 22nd)
- GLD: SPDR Gold Trust ETF daily holdings fall by 3.0 tons to 1,323.0 tons (lowest since 1,322.6 on Oct 2nd)
- GLD: Chinese Gold and Silver Exchange Society president: Gold prices to remain stable this year at $1,600-1,700/oz - Chinese press
- (US) Weekly Fed Balance Sheet Assets Week ending Feb 13th: $3.056T v $2.996T prior; M1: +$11.1B v +$10.2B prior; M2: +$7.8B v +$9.8B prior
- (AU) Australia MoF (AOFM) sells A$600M in 4.75% 2-yr Bonds; avg yield: 2.8433%; bid-to-cover: 5.56x
- AUD/USD: Falls about 15 pips to $1.0345 following comments from Edwards
- NZD/USD: NZD extending gains above $0.8515 in the wake of NZ retail sales rise, highest level since Aug 2011
- OCBC.SG: Reports Q4 Net S$663M v S$624Me, Rev S$1.68B v S$1.50Be
- NTT DoCoMo 9437.JP: Seeks to acquire financial services, retail firms - financial press
- Citizen Holding 7762.JP: Plans to implement structural reforms; to cut 10% of workforce - Nikkei News
- ANZ.AU: Reports Q1 Net A$1.36B, -20% y/y; Cash profit A$1.53B, +6.2% y/y
- DJS.AU: CEO Zahra: Rate cuts and a rebounding equity market are not enough to stimulate consumer spending - Australia press
- Toyota 7203.JP: (JP) President / Head of Japan Automobile Manufacturer's Association (JAMA) Toyoda : Weaker yen may impact Q4 earnings; Welcomes decision to eliminate auto purchase tax - financial press
- HLF: Icahn discloses 14M share stake (12.98%); intends to have discussions with management on enhancing value; analysis shows Herbalife has "legitimate business model" - 13D filing
- UPS: *RAISES DIVIDEND 8.8% to $0.62 from $0.57; Reauthorizes share repurchase program for $10B (about 13% of market cap)
- BRCD: Reports Q1 $0.21 v $0.16e, R$588.7M v $576Me
- A: Reports Q1 $0.63 v $0.67e, R$1.68B v $1.69Be
- ASGN: Reports Q4 $0.31 v $0.28e, R$402M v $387Me