ZuluTrade Blog

BOJ Shirakawa confirmed to lawmakers that BOJ will do its part to overcome deflation

Market View | Wednesday, February 22, 2012 3:38 AM GMT

Good morning ,


- USDJPY traded for the first time above 80.00 since last August, BOJ Shirakawa
  confirmed also to lawmakers that BOJ will do its part to overcome deflation.
  Headline HSBC PMI was better, but still below 50.0 and export growth was weak.
  Currencies traded overall in narrow ranges.

- Stocks: Nikkei +0.96 %, Hang Seng +0.19 %, Shanghai Composite +0.71 %,
  Dow Jones +0.12 %, S+P500 +0.07 %

- Federal Reserve officials expected "only moderate growth" in the coming
  quarters, despite improvement in some recent economic data, according to
  minutes of discount-rate meetings held last month and released Tuesday.

- China Data Recap                                    Period   Survey   Actual   Prior
  * HSBC Flash China Manufacturing PMI      Feb        -          49.7     48.8

- China's new export orders shrank in February the most in eight months, a
  preliminary HSBC business survey shows, defying expectations of a pick up
  after Lunar New Year holidays and a worrying sign of the impact of the euro
  area debt crisis.

- BOJ will play it's role to overcome deflation - Gov Shirakawa

- Australia Data Recap                 Period   Survey   Actual   Prior
  * Conf. Board Leading Index          Dec      -         0.2 %   -0.3 %
  * Westpac Leading Index              Dec      -         0.5 %   -0.1 % rev
  * DEWR Internet Skilled Vacancies    Jan      -        -0.6 %   -0.7 % rev
  * Wage Cost Index qoq                Q4       0.8 %     1.0 %    0.7 %
  * Wage Cost Index yoy                Q4       3.4 %     3.6 %    3.6 %

- Australian Foreign Minister Kevin Rudd resigned today in a press announcement
  from Washington. "I can only reluctantly conclude that I cannot continue to
  serve as foreign minister if I do not have the prime minister's support," he
  said. "I therefore believe the only honorable thing and the only honorable
  course of action is for me to resign."

- New Zealand Data Recap                Period   Survey   Actual    Prior
  * Credit Card Spending SA mom        Jan          -          0.8 %    0.9 %
  * Credit Card Spending yoy                Jan           -          3.1 %    5.9 %

- Bank of England Deputy Governor Charlie Bean said agreement on a second
  bailout for Greece may not be enough to end the debt crisis and countries in
  the euro-area periphery must reduce debt and improve competitiveness. Bean
  said also that while inflation is easing and some recent business surveys
  have been encouraging, growth will be "sluggish" in the first half of 2012
  and there's "added incentive" to cement the recovery.

- The U.N. nuclear agency on Wednesday acknowledged its renewed failure in
  trying to probe suspicions that Tehran has worked secretly on atomic arms, in
  a statement issued shortly after an Iranian general warned of a pre-emptive
  strike against any nation that threatens Iran.

- 1600 US Existing Home Sales Jan
- 0900 France PMI Manufacturing/Services Feb
- 0930 Germany PMI Manufacturing/Services Feb
- 1000 Eurozone PMI Manufacturing/Services/Composite Feb
- 1000 Italy CPI Jan
- 1100 Eurozone Industrial New Orders Dec
- 0930 Sweden Unemployment Rate
- 1000 Norway Unemployment Rate
- 1030 Bank of England Minutes



Have a good gay !

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