Welding Electrode Making Machine By Deccan Dynamics
KBank Daily Update Nov 21.2011
1. Capital Markets Research
Nov 21, 2011
Nov 21, 2011
Thai Stock Market Nov 18 Change US Market Nov 18 Change
SET Index 984.16 +9.22
Dow Jones 11,796.16 +25.43
Market Turnover (Bt mn) 21,467.19 S&P 500
-2,155.17 1,215.65 -0.48
Foreign Net Position (Bt mn) -1,869.58 -978.51
Nasdaq 2,572.50 -15.49
Thai Bond Market Nov 18 Change US 10 yr T-note (%) 1.98 -2.9 bp
Total Return Index 210.44 +206.63US 2yr T-note (%) 0.29 +0.8 bp
NYMEX crude ($/b) 97.67 -1.15
TGB Yield curve 1m 3m 6m 1yr 2yr 3yr 5yr 7yr 10yr 12yr 14yr 18yr
Nov 18 3.41 3.34 3.31 3.26 3.22 3.24 3.26 3.36 3.41 3.54 3.61 3.75
Chng 1D (bp) +0 -1 +0 +0 -1 -1 +0 -1 -3 +0 -1 +0
Chng 5D (bp) -2 +3 -2 -3 -5 -4 +0 +0 +0 +0 +0 +0
Interbank Rates Nov 21 Nov 17 BIBOR 1w 1m 2m 3m 6m 9m 1yr
Overnight (%) 3.50 3.40-3.50 Nov 18 3.50000 3.50000 3.50444 3.50222 3.51889 3.52333 3.53444
Repurchase Rates 1-day 7-day 14-day 1m SIBOR 1m 3m 6m
Nov 18 3.50000 3.50000 3.47290 - Nov 18 0.25689 0.47911 0.68800
THBFIX (Ref.) 1m 2m 3m 6m 9m 1yr LIBOR 1m 3m 6m
Nov 18 3.09568 2.69449 2.59561 2.73149 2.73047 2.76039 Nov 18 0.25656 0.48778 0.69861
Swap THB/THB 1yr 2yr 3yr 4yr 5yr 7yr 10yr
Nov 21 Bid/Ask 2.71/2.75 2.72/2.75 2.82/2.86 2.97/3.01 3.10/3.15 3.29/3.33 3.46/3.50
KBank Counter Rates Buying Selling Forward Premium(satangs/month)
(against THB) Sight Bill T/T T/T Export/Import
USD 30.78 30.88 31.13 3.30/13.50
EUR 41.5050 41.6400 42.1938 2.31/14.75
GBP 48.3775 48.5350 49.1325 5.13/14.71
JPY 0.3986 0.3999 0.4075 5.05/16.26
KBank Technical Analysis Nov 21 Nov 18 Support Resistance Trend Strategy
USD/THB (Onshore) 31.03 31.00 30.95 31.10 Sideway Buy USD near support
USD/JPY 76.81 76.91 76.50 82.60 SidewaySell USD near resistance
EUR/USD 1.3525 1.3525 1.3490 1.3550 SidewaySell EUR near resistance
Note: This table is primarily for the purpose of providing information. It is advisable that you contact us prior to quotations.
Macro and Market Outlook
• Gold price rose slightly on Friday amid easing concerns over the debt crisis in Italy after its
bond yields slightly declined
• The US economy is seen moving forward as the leading indicators show 0.9% improvement in
October
• Stock market last week trembled, largely caused by fund flows that tried to avoid risky assets
amid fears of recession in the eurozone
FX Market Wrap
• EUR/USD corrected upwards to close above 1.3500 but the euro remained under pressure. ECB
president reiterated that the central bank unlikely offer further assistance to the debt crisis
• Asian currencies mostly weakened against the greenback on Friday, led by the Korean won and
the Malaysian ringgit USD/THB continued to see a steady rise for the third straight day
News Update from the Web
• Congressional deficit-reduction committee looked set to concede failure, unable to bridge deep
partisan differences over taxes and spending going into the 2012 elections
Now you can listen to today’s exchange rate trend (press 711) and our summary of exchange rate movements (press 721) via K-BIZ
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1
For private circulation only. The foregoing is for informational purposes only and not to be considered as an offer to buy or sell, or a solicitation of an offer to buy or sell any security. Although the information herein was
obtained from sources we believe to be reliable, we do not guarantee its accuracy nor do we assume responsibility for any error or mistake contained herein.
Further information on the securities referred to herein may be obtained upon request.
2. KBank Daily Update Nov 21, 2011
U.S. securities extended a gain from last week that was
Macro and Market Outlook driven by concern Europe’s leaders aren’t able to contain
the region’s debt crisis, boosting demand for haven assets.
Gold price rose slightly on Friday amid easing concerns The Treasury Department is scheduled to sell $35 billion of
over the debt crisis in Italy after its bond yields slightly two-year notes today, the first of three auctions of coupon-
declined. However, during the past week gold price bearing debt this week totaling $99 billion.
dropped by over 3% following a sharp decline in risky
assets. Prospects of gold remain uncertain as financial Ten-year yields declined three basis points to 1.98 percent
problems in the eurozone have not been resolved. There as of 9:56 a.m. in Tokyo, according to Bloomberg Bond
has been disagreement between German and French Trader prices.
leaders on whether they would use the ECB to bail out debt
nations. Germany is seen reluctant to rely on the ECB for Treasuries due in more than a year have returned 1.2
fear that inflation could surge if the ECB keeps printing percent in the past three months, the most of 26 bond
money. This week the market is likely to keep an eye on markets in U.S. dollar terms, indexes compiled by
the Italian bond yields. Bloomberg and the European Federation of Financial
Analysts Societies show.
$/ounce $/barrel
2000 120 S&P Index (% )
115
1900 1300 3.00
110
1800 105 2.75
1700 100 1250
95 2.50
1600 90
1200 2.25
1500 85
80 2.00
1400 1150
75
1300 70 1.75
Jan-11 Mar-11 May-11 Jul-11 Sep-11 Nov-11 1100 1.50
Gold prices (LHS) WTI oil price (RHS) Aug-11 Sep-11 Oct-11 Nov-11
S&P Index 10yr Treasury yield
The US economy is seen moving forward as the leading
indicators show 0.9% improvement in October. Economic
growth for this year is projected to be slightly lower than 2% Thai interest rate: BoT Governor Prasarn trairatvorakul
as the debt problems in the eurozone affected consumer’s said on Friday that the central bank is assessing the
sentiment in the US. Apart from the eurozone, the US has impacts of the floods and whether output and consumption
not yet resolved its deficit plans. The congressional would weaken significantly or would rebound quickly.
supercomittee is unlikely to reach the agreement on deficit- Meanwhile, he also mentioned that confidence level would
cutting plans, which could further leads to market volatility also need to be considered and the MPC stands ready to
for this week. take those factors into consideration for their decision in
th
the next meeting on Nov 30 .
% y oy
15
The FX swap market shows signs of increased
10 expectations of a 25-50bp rate cut, as swap points fell. At
5
the same time, renewed concerns over Europe’s debt
problems also caused some worry over USD liquidity in the
0
market, leading swap points in the same downward
-5 direction. Nevertheless, Dr Prasarn did mention that there
is no big concern over USD liquidity at the moment.
-10
% Government bond yield curve
Oct-08 Apr-09 Oct-09 Apr-10 Oct-10 Apr-11 Oct-11
3.50
US Leading economic indicator 3.45
3.40
3.35
Stock market last week trembled, largely caused by fund
flows that tried to avoid risky assets amid fears of recession 3.30
in the eurozone. Foreign investors were net sellers of stock 3.25
markets in Korea and Taiwan by about $593mn and 3.20
$313mn during the last week, particularly on Friday 3.15
following an increase in the Italy’s bond yields that induced 1y 2y 3y 4y 5y 6y 7y 8y 9y 10y
investors to sell off risky assets and hold more cash in 18-Nov-11 11-Nov-11 TTM
terms of the US dollar for fear that the sovereign debt crisis
in Italy could trigger bank crisis in the eurozone.
Bond yields fell 1-3bp across the curve on Friday, led by
investors’ demand. Yields declined more at long-end of the
curve, leading to a flatter yield curve with 2-10 spread
US Treasuries and Thai rates falling from 21bp to 19bp. 2-year yield stood at 3.22%.
(Source: Bloomberg) Treasuries rose, becoming the
best- performing major bond market over three months,
including currency changes, as stocks fell on speculation
U.S. lawmakers will fail to agree on how to cut the budget
deficit.
2
For private circulation only. The foregoing is for informational purposes only and not to be considered as an offer to buy or sell, or a solicitation of an offer to buy or sell any security. Although the information herein was
obtained from sources we believe to be reliable, we do not guarantee its accuracy nor do we assume responsibility for any error or mistake contained herein.
Further information on the securities referred to herein may be obtained upon request.
3. KBank Daily Update Nov 21, 2011
FX Wrap Currency Movement
Fri 18-Nov-11 Thu 17-Nov-11 % Change
1.440
USD/THB 30.98 30.85 +0.42
1.420
USD/JPY 76.85 76.93 -0.10
1.400
1.380
EUR/USD 1.351 1.346 +0.37
1.360 GBP/USD 1.5791 1.5751 +0.25
1.340 USD/CHF 0.9173 0.9215 -0.46
1.320 USD/SGD 1.2985 1.2975 +0.08
1.300 USD/TWD 30.25 30.19 +0.18
1-Sep 1-Oct 1-Nov
USD/KRW 1,138.5 1,133.2 +0.47
EUR/USD USD/PHP 43.39 43.36 +0.07
USD/IDR 9,085 9,100 -0.16
EUR/USD corrected upwards to close above 1.3500 but
the euro remained under pressure. The market will likely USD/MYR 3.160 3.156 +0.14
continue to worry about the bond market as ECB president USD/CNY 6.357 6.351 +0.09
reiterated that the central bank would unlikely offer further Source: Reuters
assistance to the debt crisis, amid speculations of U.S.- .FX Consensus Forecast
style QE in Europe. He continued to urge faster actions
Spot Dec 2011 Jun 2012 Dec 2012
from European governments.
USD/THB 31.04 30.50 30.00 29.50
83.00
USD/JPY 76.80 77.00 78.00 80.00
82.00
81.00 EUR/USD 1.3523 1.35 1.35 1.39
80.00 GBP/USD 1.5753 1.57 1.58 1.61
79.00
USD/CNY 6.355 6.310 6.190 6.080
78.00
77.00 USD/SGD 1.2998 1.27 1.23 1.19
76.00 USD/IDR 9,088 8,950 8,600 8,588
75.00
USD/MYR 3.17 3.13 3.03 2.98
1-Jun 1-Jul 1-Aug 1-Sep 1-Oct 1-Nov
USD/JPY USD/JPY 100day mov avg USD/PHP 43.40 43.00 42.50 41.50
USD/KRW 1,139 1,130 1,075 1,050
USD/JPY had been declining steadily since the start of USD/TWD 30.25 30.00 29.50 29.00
November, after a sharp surge on the last day of October
due to Japan’s intervention. This proves - likely for the 3rd AUD/USD 1.00 1.01 1.02 1.05
th
or 4 time this year - that the authorities attempt is only USD/CHF 0.92 0.91 0.91 0.92
temporary. The key factor stopping the yen from reflecting Source: Bloomberg, KBank for USD/THB
Japan’s weak economy is that the market remained deeply
concerned about debt crisis in Europe. A counter-balance Currency Pair Targets
effect, albeit undesirable, could come from the decline in Spot Dec 2011 Jun 2012 Dec 2012
Japan’s exports. Japan showed the highest contraction USD/THB 31.04 30.50 30.00 29.5
rate of exports in 5 months’ period for the month of
JPYTHB 40.42 39.61 38.46 36.88
October, with shipments being under pressure from the
stronger and global economic slowdown. EURTHB 41.98 41.18 40.50 41.01
GBP/THB 48.90 47.89 47.40 47.50
JPY 0.4%
CNY
Change against USD, 5-day CNY/THB 4.88 4.83 4.85 4.85
0.0%
TWD -0.3% AUD/THB 30.91 30.81 30.60 30.98
PHP -0.4%
CHF/THB 33.85 33.52 32.97 32.07
THB -0.8%
SGD -0.8% SGD/THB 23.88 24.02 24.39 24.79
MYR -1.2% Source: KBank, Bloomberg
IDR -1.4%
KRW -1.4% KBank NEER Index
INR -2.4% Current 98.28
-3.0% -2.5% -2.0% -1.5% -1.0% -0.5% 0.0% 0.5% YTD + 5.54%
vs 52 weeks ago - 3.43%
Asian currencies
mostly weakened against the vs 1mth ago + 0.00%
greenback on Friday, led by the Korean won and the
Malaysian ringgit (despite better-than-expected Malaysia’s vs 1 week ago + 0.00%
Q3 GDP growth at 5.8%yoy). USD/THB continued to see vs 1 day ago + 0.00%
a steady rise for the third straight day, closing at 30.99. vs long term average + 10.07%
Today, we expect that the baht would test a resistance at Note: NEER is constructed from the weighted average of bilateral exchange
rates of the baht via Thailand’s 21 major trading partners and trade
31.10, against our forecast last week that USD/THB would competitors. An increase in NEER refers to an appreciation
remain within the range of 30.75-31.05 for the next 5 days.
3
For private circulation only. The foregoing is for informational purposes only and not to be considered as an offer to buy or sell, or a solicitation of an offer to buy or sell any security. Although the information herein was
obtained from sources we believe to be reliable, we do not guarantee its accuracy nor do we assume responsibility for any error or mistake contained herein.
Further information on the securities referred to herein may be obtained upon request.
4. KBank Daily Update Nov 21, 2011
Total Return Analysis – 3 month horizon, annualized Auction results of BoT Bill Nov 18
Yield shift (bps) -40 -30 -20 -10 0 +10 +20 +30 +40 Bid-
Tenor Amt. Accepted
LB123A 3.65 3.58 3.51 3.44 3.38 3.31 3.24 3.17 2.86 Symbol Avg. Yield (%) coverage
(yrs) (Bt mn) Range (%)
ratio
LB12NA 4.64 4.32 4.01 3.69 3.38 3.06 2.75 2.43 1.87
CB11D07A 0.04 65,000 3.340-3.365 3.3508 0.95
LB133A 5.06 4.61 4.16 3.71 3.26 2.81 2.36 1.90 1.20
LB137A 5.55 4.99 4.42 3.85 3.29 2.72 2.15 1.59 0.77 Source: ThaiBMA
LB13OA 5.97 5.30 4.62 3.94 3.27 2.59 1.92 1.24 0.32 Auction Calendar of BoT Bonds
LB143A 6.39 5.61 4.84 4.06 3.28 2.50 1.72 0.95 -0.08 Tenor Amt.
Symbol Auction Date Maturity Date Remark
LB145A 6.78 5.90 5.02 4.14 3.26 2.38 1.50 0.62 -0.51 (yrs) (Bt mn)
LB145B 6.68 5.82 4.97 4.11 3.25 2.39 1.53 0.68 -0.43 BOT152A 4.00 65,000 22-Nov-11 24-Feb-11 -
LB14DA 7.59 6.51 5.44 4.36 3.29 2.21 1.14 0.07 -1.26 CB11D22C 0.08 30,000 22-Nov-11 22-Dec-11 -
LB155A 8.28 7.02 5.76 4.51 3.25 2.00 0.74 -0.51 -2.02 CB12223B 0.25 15,000 22-Nov-11 23-Feb-12 -
LB157A 8.12 6.91 5.69 4.48 3.27 2.06 0.85 -0.36 -1.82 CB12524A 0.50 17,000 22-Nov-11 24-May-12 -
LB15DA 9.00 7.56 6.12 4.68 3.24 1.80 0.37 -1.07 -2.76
Source: ThaiBMA
LB167A 9.65 8.06 6.47 4.88 3.30 1.71 0.13 -1.46 -3.29
LB16NA 10.30 8.55 6.80 5.06 3.31 1.56 -0.18 -1.93 -3.92 * No LB auction in December
LB171A 10.25 8.52 6.79 5.06 3.34 1.61 -0.12 -1.84 -3.82
LB175A 10.76 8.91 7.06 5.20 3.35 1.49 -0.36 -2.21 -4.31
LB183A 12.03 9.88 7.72 5.56 3.41 1.25 -0.91 -3.06 -5.47
LB183B 11.81 9.71 7.61 5.51 3.41 1.31 -0.79 -2.89 -5.24
LB191A 12.59 10.29 8.00 5.70 3.41 1.11 -1.18 -3.47 -6.02
LB196A 13.52 10.99 8.47 5.95 3.43 0.92 -1.60 -4.12 -6.88
LB198A 13.34 10.86 8.39 5.92 3.44 0.97 -1.50 -3.97 -6.69
LB19DA 13.86 11.26 8.65 6.05 3.45 0.86 -1.74 -4.34 -7.19
LB213A 15.05 12.16 9.26 6.37 3.48 0.59 -2.30 -5.19 -8.33
LB214A 14.93 12.07 9.21 6.34 3.48 0.62 -2.24 -5.09 -8.20
LB22NA 17.00 13.63 10.26 6.89 3.52 0.15 -3.21 -6.58 -10.19
LB233A 17.11 13.72 10.33 6.94 3.55 0.17 -3.22 -6.60 -10.24
LB236A 18.19 14.54 10.88 7.23 3.58 -0.07 -3.71 -7.36 -11.25
LB244A 18.70 14.92 11.15 7.37 3.60 -0.17 -3.93 -7.70 -11.71
LB24DA 19.02 15.16 11.31 7.46 3.61 -0.23 -4.08 -7.92 -12.01
LB267A 19.67 15.67 11.68 7.69 3.70 -0.29 -4.27 -8.25 -12.48
LB283A 21.41 16.99 12.57 8.15 3.74 -0.68 -5.09 -9.49 -14.15
LB296A 22.76 18.01 13.26 8.52 3.78 -0.96 -5.70 -10.43 -15.41
LB383A 27.97 21.96 15.96 9.97 3.98 -2.01 -7.99 -13.96 -20.18
LB396A 28.80 22.60 16.41 10.22 4.03 -2.15 -8.32 -14.49 -20.90
Average 12.84 10.49 8.14 5.80 3.45 1.11 -1.24 -3.58 -6.17
Source: KBank, Bloomberg
KBank Rich – Cheap Model Weekly update Nov 1st
Bps (actual YTM vs. model)
20.00
15.00
10.00
5.00
0.00
-5.00
-10.00
-15.00 3 mth avg
Now
-20.00
LB296A
LB123A
LB133A
LB137A
LB145B
LB14DA
LB155A
LB15DA
LB167A
LB16NA
LB175A
LB183B
LB191A
LB196A
LB198A
LB19DA
LB213A
LB24DA
LB267A
LB283A
LB396A
Source: Bloomberg, KBank The 3-month average indicates the average differences between observed and derived yields
4
For private circulation only. The foregoing is for informational purposes only and not to be considered as an offer to buy or sell, or a solicitation of an offer to buy or sell any security. Although the information herein was
obtained from sources we believe to be reliable, we do not guarantee its accuracy nor do we assume responsibility for any error or mistake contained herein.
Further information on the securities referred to herein may be obtained upon request.
5. KBank Daily Update Nov 21, 2011
The deadlock comes back to two fundamental differences:
Economic News Update Republican opposition to tax increases, particularly on the
wealthiest Americans, and Democratic refusal to cut
Debt-reduction panel spirals toward federal retirement and healthcare benefits without such tax
failure – by Reuters increases.
After more than two months of talks, the congressional While expectation for a deal was low, with an election year
deficit-reduction committee looked set to concede failure, ahead and the ugly debate on the debt ceiling fresh on the
unable to bridge deep partisan differences over taxes and minds of many, investors remain concerned about the
spending going into the 2012 elections. inability of Congress to compromise.
Republican and Democratic lawmakers cast doubt on any They fear gridlock may hurt White House efforts to extend
possibility of agreement in appearances on Sunday talk a temporary payroll tax cut and jobless benefits for the
shows. Without some unexpected breakthrough, aides long-term unemployed, further harming fragile economic
said, the 12-member bipartisan "super committee" will growth.
admit defeat on Monday.
White House officials were conspicuously absent from the
Some of the panel members appeared to be stepping up Sunday talk shows. Administration officials see little
blame as the clock ticked toward an imminent deadline. political fallout for Obama if the panel fails and believe
They must vote on any deal by Wednesday but Monday is there is still breathing room for a deal in coming months
the deadline to have legislation written and presented to since the automatic cuts would not kick in until early 2013.
the entire committee.
Those cuts would be evenly divided between domestic and
"Nobody wants to give up hope. Reality is, to some extent, defense programs. But some Republican members of
starting to overtake hope," Representative Jeb Hensarling, Congress are talking about dismantling the automatic cuts
the panel's Republican co-chairman, said on "Fox News to protect the Defense Department from deep reductions.
Sunday."
Obama has warned Congress he would veto any attempt
President Barack Obama, a Democrat seeking re-election to block automatic cuts, even though his own defense
in November 2012, has avoided direct involvement in the secretary says the armed forces cannot afford to work with
talks after making his recommendations in September. less.
But a White House spokeswoman urged the panel to make With an eye on the election, many Democrats and
the "tough choices" to complete its task - a package of at Republicans have recently agreed on one thing - no deal is
least $1.2 trillion in deficit reduction over the next decade. actually better than a bad deal.
On NBC's "Meet the Press" program, neither Republican They would then enter the campaign period without having
Senator Jon Kyl nor Democratic Senator John Kerry gave betrayed any of their parties' core principals and could
any indication a deal was near. They stuck to their parties' blame the other side for not being willing to compromise.
entrenched positions and blamed the other side for
deadlock. Some are already positioning to score political points on
the super committee. In a fundraising letter sent on
If the panel does not reach consensus, automatic spending Saturday, Democratic House leader Nancy Pelosi said
cuts of $1.2 trillion over a decade are due to start in 2013. Republicans were thwarting progress on job creation and
urged supporters to donate to get more Democrats in office
Failure by the committee of six Republicans and six in the 2012 elections.
Democrats, created in the wake of the battle over the
federal government's debt ceiling last summer, could
cement notions of a dysfunctional Washington among
voters and investors.
Congress has rock-bottom approval ratings of around 10
percent after more than a year of budget fights that saw the
government pushed to the brink of a shutdown and then to
an unprecedented cut in the U.S. credit rating.
Given unusual powers to tackle the government's budget
deficit and debt, which topped $15 trillion on Friday, the Market Strategists:
committee was seen by many as the best chance in the
Nalin Chutchotitham
near term for the United States to get control of its
finances. nalin.c@kasikornbank.com
Some of the 12 panel members were chosen by their +662-470-3235
parties for deal-making skills and expertise on tax and Amonthep Chawla
benefits, while others were chosen for partisan loyalty.
amonthep.c@kasikornbank.com
+662-470-6749
5
For private circulation only. The foregoing is for informational purposes only and not to be considered as an offer to buy or sell, or a solicitation of an offer to buy or sell any security. Although the information herein was
obtained from sources we believe to be reliable, we do not guarantee its accuracy nor do we assume responsibility for any error or mistake contained herein.
Further information on the securities referred to herein may be obtained upon request.
6. KBank Daily Update Nov 21, 2011
Economic Calendar
Date / Time Country* Event Period Consensus Actual Prior Revised
11/18/2011 11:55 PH Balance of Payments OCT -- $208M $719M --
11/18/2011 12:30 JN Nationwide Dept. Sales (YoY) OCT -- -0.50% -2.40% --
11/18/2011 12:30 JN Tokyo Dept. Store Sales (YoY) OCT -- -1.90% -3.60% --
11/18/2011 14:00 GE Producer Prices (MoM) OCT 0.10% 0.20% 0.30% --
11/18/2011 14:00 GE Producer Prices (YoY) OCT 5.30% 5.30% 5.50% --
11/18/2011 14:30 TH Foreign Reserves Nov-11 -- $181.8B $181.8B --
11/18/2011 14:30 TH Forward Contracts Nov-11 -- $29.3B $29.2B --
11/18/2011 16:00 IT Industrial Orders s.a. (MoM) SEP -6.00% -8.30% 5.00% 4.20%
11/18/2011 16:00 IT Industrial Orders n.s.a. (YoY) SEP -- -3.60% 10.50% 7.80%
11/18/2011 16:00 IT Industrial Sales s.a. (MoM) SEP -- -5.40% 4.00% 3.80%
11/18/2011 16:00 IT Industrial Sales n.s.a. (YoY) SEP -- 1.90% 12.00% 11.60%
11/18/2011 17:00 MA Current Account Balance 3Q -- 26.6B 23.4B --
11/18/2011 17:00 MA GDP YoY% 3Q 4.80% 5.80% 4.00% 4.30%
11/18/2011 19:00 CA Consumer Price Index MoM OCT 0.10% 0.20% 0.20% --
11/18/2011 19:00 CA Consumer Price Index YoY OCT 2.80% 2.90% 3.20% --
11/18/2011 19:00 CA Bank Canada CPI Core MoM OCT 0.10% 0.30% 0.50% --
11/18/2011 19:00 CA Bank Canada CPI Core YoY OCT 1.90% 2.10% 2.20% --
11/18/2011 19:00 CA Consumer Price Index OCT -- 120.8 120.6 --
11/18/2011 19:23 IT Current Account (mlns euro) SEP -- -3530M -5393M --
11/18/2011 20:30 CA Leading Indicators MoM OCT 0.10% 0.20% -0.10% 0.10%
11/18/2011 22:00 US Leading Indicators OCT 0.60% 0.90% 0.20% 0.10%
11/21/2011 06:50 JN Merchnds Trade Balance Total OCT ¥39.9B -¥273.8B ¥300.4B ¥296.2B
11/21/2011 06:50 JN Adjusted Merchnds Trade Bal. OCT -¥204.0B -¥457.9B -¥21.8B -¥96.7B
11/21/2011 06:50 JN Merchnds Trade Exports YoY OCT -0.3 -3.7 2.4 2.3
11/21/2011 06:50 JN Merchnds Trade Imports YoY OCT 15.1 17.9 12.1 --
11/21/2011 07:00 SI GDP (QoQ) 3Q F 2.00% 1.90% 1.30% -6.40%
11/21/2011 07:00 SI GDP (YoY) 3Q F 6.10% 6.10% 5.90% --
11/21/2011 07:01 UK Rightmove House Prices (MoM) NOV -- -3.10% 2.80% --
11/21/2011 07:01 UK Rightmove House Prices (YoY) NOV -- 1.20% 1.20% --
11/21/2011 09:30 TH Gross Domestic Product SA (QoQ) 3Q 1.50% 0.50% -0.20% 0.00%
11/21/2011 09:30 TH Gross Domestic Product (YoY) 3Q 4.50% 3.50% 2.60% 2.70%
11/21/2011 11:30 JN All Industry Activity Index (MoM) SEP -1.00% -- -0.50% --
11/21/2011 12:00 JN Coincident Index CI SEP F -- -- 88.9 --
11/21/2011 12:00 JN Leading Index CI SEP F -- -- 91.6 --
11/21/2011 14:00 JN Convenience Store Sales YoY OCT -- -- -4.00% --
11/21/2011 15:00 TA Export Orders (YoY) OCT 3.50% -- 2.72% --
11/21/2011 15:20 TA Current Account Balance (USD) 3Q 9600M -- 9015M --
11/21/2011 16:00 EC Euro-Zone Current Account nsa SEP -- -- -6.3B --
11/21/2011 16:00 EC ECB Euro-Zone Current Account SA SEP -- -- -5.0B --
11/21/2011 20:30 CA Wholesale Sales MoM SEP 0.70% -- 0.20% --
Source: Bloomberg (EC – eurozone, SK – South Korea, SI – Singapore, IN – India, ID – Indonesia, AU – Australia, MA – Mlaysia, TH - Thailand, CH – China)
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