Tuesday, January 12, 2016

Economic News , Data & Views ( January 12 , 2016 ) Asia In Focus ( 1. Iran hold sailors from two US Boats - just before SOTU Address. 2. Oil & #CommodityCrush items - metals crushed along with oil , Baltic Freight Index hits latest cycle low. 3. Global currencies in focus vs USD. 4. China items of note . 5. Odds & Ends ) Europe in Focus ( Greece - Troika related items - debt resolution , First Review of latest Greece Bailout . 2. Refugee related items & Border security . 3. Doctor's strike causes major disruptions at UK Hospitals and medical procedures. 4. BP slashes 4,000 jobs. 5. Istanbul blast today in tourist areas - German tourists among dead and seriously wounded. 6. Spanish Election Updates - Formation of Gov't still at standstill. 7. Odd & Ends. )

Evening Wrap......

Emerging Nations , Commodities  & Asia.....

BREAKING: Iran will hold US sailors through the State of the Union and into tomorrow

Since Dama is rushing to banks to exchange RMB for USD, banks in 1st-tier cities request client to make reservation in advance for >USD1k

Here are the China BOT figures

China's December exports up 2.3 pct, imports down 4 pct
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Rabobank's Michael Every says 66% yuan rate jump is "murderous", PBoC might win this round but will lose in the end.


Chart: Another larger than expected draw on crude oil inventories; however gasoline supplies jump sharply again -

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CORRECTION: my bad, only WTI below $30 a barrel -- Brent holding just above $30

VENEZUELA OIL BASKET PRICE AT $24/BBL, MADURO SAYS. Andy Hall is a better buyer at $25

Ruble breaks beyond 77 per Dollar as rout deepens.

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Bloomberg Commodity Index (investable benchmark index) closing in on its lowest level in history. Inception: Jan '91

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Global Currencies: new lows vs. US Dollar today in Russia, Canada, South Korea, UK, and Taiwan.

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CHINA'S SAFE SAID TO ASK BANKS TO LIMIT YUAN OUTFLOWS. Nothing like capital controls to ease concerns about capital flight

| Now trading at it’s lowest levels since 2003...
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| Nickel lowest since '03;NPLs in China doubled in '15 ..so... *NORILSK NICKEL SIGNS 4.8B YUAN REVOLVER CREDIT W/ CHINA BANKS


Russia's parliament is to consider a draft bill that would give stiff fines for using digital currencies

The Telegraph has now removed sensors monitoring if journalists are at their desks

clarified to : the total solution for Greece (+debt) will take months not the first review.

Government gets backing for bill on taking migrants' cash and valuables

Talks on hot spot for migrants inconclusive

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govt coalition agrees on stricter rules for refugees involved in crimes: Fast-track deportations /via

Just blowing smoke. always rejects reform, until its time to deal. Later they undercut it quietly.

No Cuts in Greek Primary Pensions, Minister Says Ahead of Talks via

Doctors' strike causes major disruption at UK hospitals
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BP slashes 4,000 jobs amid oil price plunge

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Suicide bomber kills 10 people, mainly Germans, in Istanbul

Police sources to TRT World: a female suicide bomber was responsible for the blast in Istanbul this morning.

German tourists 'killed in Istanbul blast': reports

| Ciudadanos say almost impossible to support PSOE-Podemos coalition mainly due to Podemos' referendum pledge