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Профессиональный Документы
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45am HKT)
Currency
Currency
EURUSD
1.0847-94
EURJPY
135.03-46
USDJPY
124.27-48
EURGBP
0.69815-980
GBPUSD
1.5526-74
USDSGD
1.3811-72
USDCHF
AUDUSD
0.9775-91
0.7354-83
USDTHB
USDKRW
35.08-15
1167.6-1175.1
NZDUSD
0.6519-50
USDTWD
31.635-765
USDCAD
1.3186-1.3213
USDCNH
6.2191-6.2277
AUDNZD
1.1266-1.1301
XAU
1084.7-1087.1
Key Headlines
Story about this IMF recommending expanding the
SDR basket dominated our session. China Experts and
bloggers seemed to have misread the recommendation
by the IMF official; delaying inclusion to Sept 2016.
Basically, there are number of issues to be resolved
before putting RMB into SDR basket and we dont need a
rocket scientist to point that out. The IMF Executive
Board decision expected in Nov on composition of SDR
basket will still take place.
The only two things growing in Greece is the debt and
the size of the third bailout program. British think-tank
NIESR sees bigger Greek haircut as much as 55%. One
article in The Telegraph said the drastic fall in Greek
bank shares meant that recapitalising the Greek banks is
now going to be significantly more expensive; that the
third Greek bail-out might exceed 100bn.
UsdCad printed new high 1.3213, took out small barrier
at 1.3210. Euro also took out barrier at 1.0850, got to low
1.0847. AudNzd ran into offers 1.1300. UsdMyr new
high; 1s NDF 3.9060.
FX Flows
You just have to respect the Japanese. They control
UsdJpy and there is no question about it. Early Tokyo
names kept offering UsdJpy from high 124-thirties and
suppressed the Usd to 124.27 despite some light demand
into fix from Japanese corporate for Goto-bi Day. Right
after the fix, corporate buying surfaced took UsdJpy up
and soaked up the offers at 124.40. Decent sell orders are
reported at 124.50-60 while buyers lurk 124.10. Shortterm accounts left stops at 124.00 and renewed buying at
123.60-75.
Asians
The story on RMB/SDR dominated the Asian session
and seems that some have misread the recommendation
by the IMF official. Most bloggers read it as IMF is
delaying decision on RMB inclusion into SDR and this is
a disappointment to the Chinese. Sadly, this is wrong.
Siddharth Tiwari, director of the IMF's strategy, policy
and review department said the proposed extension,
which will be decided by the Executive Board later this
month, would not in any way prejudge the timing of
conclusion or outcome of the review. That is the board
decision still expected in Nov. Furthermore the delay is
recommended so as not to disrupt financial market
trading on the first day of 2016.
China Caixin PMI somewhat in line with numbers out
over the weekend. Composite was slightly weaker but
services saw a jump.
Usd/Asia began the morning bid but towards late
morning, started to pare off gains on profit taking.
These information have been obtained or derived from sources believed to be reliable, but I make no representation or warranty as to their accuracy or completeness.
Copyright 2013 The Poon Report by Vincent Poon. All rights reserved.
These information have been obtained or derived from sources believed to be reliable, but I make no representation or warranty as to their accuracy or completeness.
Copyright 2013 The Poon Report by Vincent Poon. All rights reserved.
http://www.wsj.com/articles/china-clamps-down-onshort-selling-1438664957?mod=wsj_nview_latest
WSJ: Australian Court Revokes Approval for
$12.2 Billion Adani Group Coal Mine
Indias Adani Group has had approval from Australias
government to build one of the worlds largest coal
mines, previously estimated to cost 16.5 billion
Australian dollars, revoked by a federal court. Adani said
the decision was the result of a technical legal error
related to documents on the conservation of two
vulnerable species, the yakka skink and ornamental
snake, that it said werent presented by the environment
department when completing its approval for the mineand-rail project in central Queensland state, which was
handed down a year ago.
http://www.wsj.com/articles/australian-court-revokesapproval-for-adani-groups-12-2-billion-coal-mine1438741179?mod=wsj_nview_latest
WSJ: Shire Makes Unsolicited $30.6 Billion Bid
for Baxalta
Dublin-based Shire PLC said Tuesday that it has made
an unsolicited offer to acquire rare-disease treatment
maker Baxalta Inc. for roughly $30.6 billion in stock, in
the latest sign of drug makers strong appetite for deals.
Baxalta, based in Deerfield, Ill., rejected the proposal,
saying it undervalued the company. Baxalta, which sells
drugs for rare bleeding disorders and immune
deficiencies, is just five weeks old as a public company
after spinning off last month from Baxter International
Inc., which remains its largest shareholder.
http://www.wsj.com/articles/shire-offers-to-buybaxalta-for-30-billion-1438688992
Ambrose Evans-Pritchard in Telegraph: Day of
reckoning postponed as global recovery builds
With hindsight it is clear that the world economy came
within a whisker of recession earlier this year. Global
shipping volumes contracted by 3.4pc between January
and May, according to Hollands CPB world trade index.
This episode is now behind us. Leading indicators and
monetary data in the US, Europe and China point to an
accelerating rebound over coming months.
http://www.telegraph.co.uk/finance/economics/117825
68/Day-of-reckoning-postponed-as-global-recoverybuilds.html
Telegraph: Cost of a third Greek bail-out is likely
to be too high for Europe
There is also relatively little chance of Greece being able
to demonstrate the necessary additional commitment to
carry on with reforms, given that its government is badly
split, there are likely to be new elections. Since the IMF
is now de facto out, that means the eurozone states will
have to find an extra 8bn to 15bn on top of what they
These information have been obtained or derived from sources believed to be reliable, but I make no representation or warranty as to their accuracy or completeness.
Copyright 2013 The Poon Report by Vincent Poon. All rights reserved.
These information have been obtained or derived from sources believed to be reliable, but I make no representation or warranty as to their accuracy or completeness.
Copyright 2013 The Poon Report by Vincent Poon. All rights reserved.