[B]Intra-Day Market Moving News and Views
15 Dec 2014[/B] [I]00:33GMT[/I]
[B]USD/JPY[/B] - ...... Dollar swung wildly in early Asian trading following Japan's national election on Sunday. Reuters reported Japanese PM Shinzo Abe's coalition cruised to a big election win, ensuring he will stick to reflationary economic policies n a muscular security stance, but record low turnout pointed to broad dissatisfaction with his performance.
The Nikkei is currently down 264 points at 17108 following Friday’s decline in the Dow & S&P 500.
The greenback fell due to broad-based gain in the yen after Japanese stocks weakened following an expected big victory for Japanese PM Shinzo Abe’s coalition in Sun’s election.
Although dlr opened high at 119.04 in thin New Zealand session, price quickly swung from gain to losses due to broad-based buying in yen, dlr later fell to 117.78 ahead of Tokyo open before staging a recovery.
Abe’s LDP n its junior partner, the Komeito party, won 326 seats, more than the 317 seats in the 475-member lower house required to maintain a two-thirds “super-majority” that smoothes parliamentary business. But the LDP won 291, slightly short of the 295 it held before the poll.
“I believe the public approved of two years of our ‘Abenomics’ policies,” Abe said in a televised interview. “But that doesn’t mean we can be complacent.”
Turnout was estimated to be a record low of 53.3%, below the 59.3% in a 2012 poll that returned Abe to power for a rare 2nd term on pledges to reboot an economy plagued by deflation n an aging, shrinking population.
Hopes for Abenomics were hit when Japan slipped into recession in the 3rd quarter following an Apr sales tax rise. Wage increases have not kept pace with price rises n data suggest any economic rebound is fragile.
[B]Data to be released this week: [/B]
Japan’s Tankan surveys, Switzerland’s Proper/Import Price, UK’s CBI Trends, U.S.'s NY Fed Manufacturing, Capacity Utilization, Industrial Output, Manufacturing Output, NAHB Housing Market Index, Net Long-Term TIC Flows [B]on Monday. [/B]
Australia’s RBA Minutes, China HSBC Manufacturing PMI, Markit Manufacturing PMI and Service PMI for France, Germany and Eurozone, Italy’s Trade Balance, UK’s PPI, CPI,RPI, BoE Financial Stability Report, Germany ZEW Current Conditions, Eurozone’s trade balance, Canada’s Manufacturing sales, U.S.'s Building Permits, Housing Starts, redbook and Markit Manufacturing PMI [B]on Tuesday. [/B]
New Zealand’s Current Account, Japan’s Trade Balance, exports, imports, Switzeland’s SNB’s Quarterly Bulletin, ZEW Investor Sentiment, UK’s BoE Meeting Minutes and MPC Vote Outcome, Average Earnings, Claimant Count Change, ILO Unemployment, Eurozone’s Inflation data, Lobour Costs, Canada’s Wholesale trade, U.S.'s CPI, Current Account, FOMC Rate Decision [B]on Wednesday.[/B]
New Zealand’s GDP, China’s House Prices, Switzerland’s Trade, Germany’s IFO Business Climates, IFO Current Conditions, IFO Expectations, U.K.'s Retail sales, U.S. Markit Service PMI, Philly Fed Business and Leading index change [B]on Thursday. [/B]
New Zealand’s NBNZ Business Outlook, Germany’s Gfk Consumer confidence, Gfk Consumer Sentiment, Producer Prices, France’s Business Climate, Eurozone’s Current Accounts, Italy’s Industrial Sales, U.K.'s Gfk Consumer Confidence, PSNCR, PSNB, CBI Distributive Trades, Canada’s CPI and Retail Sales[B] on Friday.[/B]