Wednesday, April 12, 2017

Economic News , Data & Views.....April 12 , 2017 ..... Quick Hits For Wednesday -1) Markets : Asia - Economic Calendar for Thursday , Market Moving News And Data To Consider , Trump Says & Treasury Confirms That China Will Not be Named As A Currency Manipulator ; US Major Indexes Down Today , Gold Up 8 Bucks , Treasury Yields Lower Again , Crude Oil Snaps Four-Day Rally - WTI Down 0.90% And Brent Oil Down 1.20% Today. 2) US Politics : Trump Base Will Be Upset As 5 Major Campaign Promises Are Reversed In A Bit More Than A Day ; Items Of Note Touching On North Korea , Syria , Russia ; Key Comments From Trump's Interview Today ; Additional Items Of Note. 3) Europe : Greece News For Wednesday - Tsipras Struggles To Sell Latest Troika Deal , As Economy Flutters ; Dortmund Football Terror Attack Updates & Arrest Information ; Turkish Vote Probably Swings Based Upon Votes Of Turks Living In Europe ; Refugee Related News Of The Day ; French Election Polling Data Show Tight 4 Way Race Still ; Additional Items Of Note. 4) Odds & Ends - Syria & Libya In Primary Focus.



China Customs: 1st Qtr crude imports avg 8.55 mln bpd, surpasses US 8.15 mln bpd. Another world #1 !!

China March trade in USD.....imorts , exports trade surplus all jumping !

Imports , exports , trade surplus in yuan...

China just reported the biggest jump in exports (in USD terms) in 2 years. +16.4% in March

Good morning from Berlin. Trump set Dollar bears loose. Asia stocks mixed as Yen at 5mth high. Trump's comments on China helps Shanghai Comp

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Economic data due from Asia today - Australian jobs report focus

PBoC Open Market Ops: - PBoC To Inject CNY 70 Bln Via 7 Day Reverse Repos

LOL! Journalists gather for “big” event in North Korea – a street opening

North Korea to journalists: Expect a "big and important event" Thursday

PBoC Fixes USDCNY Reference Rate At 6.8651 (prev fix 6.8940 prev close 6.8930)

Singapore GDP (YoY) Q1: 2.5% (exp 2.4%; prev 2.9%) -GDP SAAR (QoQ) Q1: -1.9% (exp -1.9%; prev 12.3%)

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Japanese Money Stock M2 (YoY) Mar: 4.3% (exp 4.2%; prev 4.2%) - Money Stock M3 (YoY) Mar: 3.6% (exp 3.6%; prev 3.6%)

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Foreign Buying Japan Bonds (JPY) 7-Apr:586.8B (prev 890.0B) -Foreign Buying Japan Stocks (JPY) 7-Apr: 441.0B (prev 584.5B)

New Zealand Food Price Index (MoM) Mar: -0.3% (prev 0.2%)

New Zealand Business NZ PMI Mar: 57.8 (prev 55.2; prev rev 55.7)

PBOC official - Raise tolerance on yuan's 'flexibity'

Japan press: Japanese government kept quiet on yen climb wary of provoking US

NZ housing data for March, prices up, sales volume down

U.S. Treasury Spokesman Confirms That Treasury Currency Report Will Not Name China A Currency Manipulator Following Trump's Comments – RTRS



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BREAKING: Trump tells WSJ he will not label China a currency manipulator in report due this month because it would hurt talks w/ China on NK


Down day for the major US stock indices

ForexLive Americas FX news wrap: Trump flexes his jawbone

US Treasuries benefited from Trump’s comments that he likes the Fed's low-interest-rate policy. 10y yields drop to lowest since Nov.

President Trump set Dollar bears loose as he told the WSJ the Greenback is getting too strong and he'd prefer the Fed keep rates low.

US Politics....

China not named currency manipulator , future of Fed Chief Yellen changed , Export-Import Bank now supported & NATO is "no longer obsolete."

Call it "Turn Back Day "..... 5 major campaign promises in a 24 hour span.

North Korea Oil Imports, Cargo Ships, State Airline Among Possible Targets In Future U.S.-Led Sanctions Efforts - U.S. Government Sources

Something to watch for this weekend....North Korea may test US & China patience and boundaries.

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The reporters were told they could not take lighters, cell phones or laptops, according to

Journalists in Pyongyang (not me) told to prepare for a big event, are on the bus to somewhere right now. May be nothing, may be something

New Trump Memo Promises "Dramatically More Efficient" Government; Lifts Federal Hiring Freeze

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Is it possible Russia didn’t know Syria would use chemical weapons? "It’s certainly possible. I think it’s probably unlikely,” Trump says.

"That's a butcher," on Syria's Assad

Calling the world "a mess" and "nasty," Pres Trump says he'd like to get along with everybody including Russian Pres Putin.

Trump touts his relationship with Xi, says he thinks Xi wants to assist U.S. on N. Korea. "I think he wants to help," Trump says.

Trump, asked by if his assessment of Putin has changed after recent events in , "we may be at an all time low" w Russia

In 1 day, Trump SHIFTS positions on NATO being "obsolete," Ex/Im Bank, Janet Yellen, China as a currency manipulator, low interest rates.

"I said it was obsolete. It's no longer obsolete," Trump reverses on NATO.

Trump writing in the WSJ in 2015: I'll label China a currency manipulator on Day 1 Trump to WSJ today: Nevermind



Trump Trounces Dollar, Yields Cementing Tech Stocks' Worst Streak In 5 Years

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If Flynn & Manafort registered under FARA & Page targeted under FISA, then all 3 had secret foreign masters while working for Trump campaign

WASHINGTON (AP) — Spokesman says former Trump campaign chairman Paul Manafort is registering with US gov't as foreign agent.

Nunes claims not supported by classified documents ( Dem and Republican agree )

If Putin interfered in Election 2016 to get Trump in , not working out according to plan , so far.

The government has not formally charged Page with any wrongdoing - despite obtaining the FISA warrant to surveil Carter Page last summer.

North Korea vows tough counteraction to any U.S. military moves now that USS Carl Vinson is near Korean Peninsula.

South Korea says there shouldn't be U.S. attack on North Korea without South Korean consent.

For the uninitiated, here is what the government must have shown in order to obtain a FISA warrant on Carter Page as agent of foreign power.


Interesting that Melenchon appears to be a strong candidate against all but Macron...

France: Macron slowly losing popularity as is nearing for 3rd, maybe 2nd place. Hamon nearing Hollande levels. Anti € vs anti €?

UK manufacturers report strongest export growth since late in 2014

Tsipras defends agreement, vows debt relief, catharsis

No pensions expected to avoid cuts

Construction gives in to review jitters

Drop in key tourism data in 2016

MACRON 22.5%; LE PEN 23.5%; MELENCHON STABLE AT 18.5% market nervous melechon/the communist could beat macron in round 1

Macron’s lead on Fillon keeps shrinking, while Mélenchon catches up on Fillon - daily IFOP

Police arrest 'Isis terror coordinator' in Bavaria

🔴 - One Islamist suspect arrested over Dortmund attack, German prosecutors say

Sensing the vote will be very close...


Monthly update on EU refugee relocation scheme: 16,548 relocated from Greece and Italy to date, barely 10% of target. Deadline Sept 2017.

March tax revenues beat target

IMF chief Lagarde says 'halfway' there on Greek talks

EU renews calls for refugee relocation pledge

Daily Mail apologizes to Melania Trump with $2.9M libel settlement

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Lagarde says clearly that the won't insist on upfront debt relief measures for . ↓ Schäuble gets his way. Deal imminent.

’s Lagarde: Debt restructuring for needed; modalities must be decided upfront; still debating whether to lend to GR.

Only Macron and socialist Hamon have spoken out against Kadyrov's persecutions of gay people. Putin chums Fillon, Mélenchon & Le Pen silent.

Odds & Ends...


Despite "Ruthless Economic War", Venezuela, PDVSA Avoid Default With $2.6 Billion Payment

Not a good look for Maduro - being pelted with eggs...

Boy among four killed in Venezuela riots

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Venezuela protesters throw eggs, objects at president during rally as unrest grows by via

China - North Korea

China Tells its military to be prepared to move to the border - fireworks this weekend ?

North Korea not acting like it plans to back down..

Next nuclear test by N.K looming?

North Korea is ready to conduct a nuclear test at its Punggye-ri Nuclear Test Site: monitoring group


: Wafa oil & gas field reopened by Nalut, El Feel still blocked in Fezzan, and Sharara still blocked by Zintan

Fayez Serraj discusses development of bilateral relations with Eric Strating (Netherlands Ambassador to )

Force majeure lifted from the Wafa oilfield.

Tripoli Civil Registry Authority acting head kidnapped by militias seeking database -

Ambassadors of permanent Security Council states warn over conflict in the south -

leads the talks between 's Sergio Mattarella and 's Vladimir Putin in Moscow


US and Russia still far apart as Russia vetoes UN draft resolution on Syria gas attack probe

Great as usual: The fire of the Syrian war is spreading following US tomahawks deployment via

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: Evacuation of 4 towns delayed until Thursday morning, government negotiator Hassan Sharaf tells , without saying why. >

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: "We are ready to throw our weight & resources behind diplomacy. We're ready to help bring this conflict to an end," Haley tells UNSC

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: Perhaps in attempt to dispel rumors of imminent resignation, UN envoy Staffan de Mistura says he will remain in his post

: UN envoy de Mistura tells UNSC "more fighting, barrel bombs, cluster munitions, incendiary weapons" after last week's chem attack

: 4-page US intel report on how it concluded Assad govt was behind sarin attack also says govt used sulfur mustard in Aleppo in 2016 -

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: "Entry of buses to Z&M was goodwill gesture from govt but won't leave w/o simultaneous exit of F&K convoy," govt negotiator to

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: "The logistical details are all ready, but the armed groups are delaying things," govt negotiator Mohammad Taqiddin tells

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: Buses have entered & people are gathering in the town, residents there tell . No buses in Fuaa/Kafraya yet

Leading CW expert Theodor Postol of MIT just published a 14-page document questioning WH claims that Sarin was dropped from AF plane