CN Retail Sales (YoY)

Location: China

Date: 21/10/2014

Time: 06:30

Strength: 2/3

Previous: 11.9%

Notes: The Retail Sales report released by the National Bureau of Statistics of China measures the total receipts of the retailed consumer goods. It reflects the total consumer goods that the various industries supply to the households and social groups through various channels. It is an important indicator to study the changes in the Chinese retail market and reflecting the degree of economic prosperity. In general, A high reading is seen as positive (or bullish) CNY, while a low reading is seen as negative (or bearish) for the CNY.

#END

CN Urban investment (YTD) (YoY)

Location: China

Date: 21/10/2014

Time: 06:30

Strength: 2/3

Previous: 16.5%

Notes: The Urban investment released by the National Bureau of Statistics of China refers to the total amount money of the activities in construction and purchase of fixed assets, it is a comprehensive index which reflect the scale, pace, proportional relations and use orientation of the fixed assets investment. A large urban investment is an indicative of China's overall economic growth and strong domestic demand. As the Chinese economy has influence on the global economy, this economic indicator would have an impact on the Forex market. In general, a high reading is seen as positive (or bullish) CNY, while a low reading is seen as negative (or bearish) for the CNY.

#END

CN Retail Sales (YoY)

Location: China

Date: 21/10/2014

Time: 06:30

Strength: 2/3

Previous: 11.9%

Notes: The Retail Sales report released by the National Bureau of Statistics of China measures the total receipts of the retailed consumer goods. It reflects the total consumer goods that the various industries supply to the households and social groups through various channels. It is an important indicator to study the changes in the Chinese retail market and reflecting the degree of economic prosperity. In general, A high reading is seen as positive (or bullish) CNY, while a low reading is seen as negative (or bearish) for the CNY.

#END

CN Industrial Production (YoY)

Location: China

Date: 21/10/2014

Time: 06:30

Strength: 2/3

Previous: 6.9%

Notes: Industrial Production is released by the National Bureau of Statistics of China. It shows the volume of production of Chinese Industries such as factories and manufacturing facilities. A surge in output is regarded as inflationary which would prompt the Peopleâ s Bank of China would tighten monetary policy and fiscal policy risk. Generally speaking, if high industrial production growth comes out, this may generate a positive sentiment (or bullish) for the CNY, whereas a low reading is seen as negative (or Bearish) for the CNY.

#END

CN Industrial Production (YoY)

Location: China

Date: 21/10/2014

Time: 06:30

Strength: 2/3

Previous: 6.9%

Notes: Industrial Production is released by the National Bureau of Statistics of China. It shows the volume of production of Chinese Industries such as factories and manufacturing facilities. A surge in output is regarded as inflationary which would prompt the People���s Bank of China would tighten monetary policy and fiscal policy risk. Generally speaking, if high industrial production growth comes out, this may generate a positive sentiment (or bullish) for the CNY, whereas a low reading is seen as negative (or Bearish) for the CNY.

#END

CN Urban investment (YTD) (YoY)

Location: China

Date: 21/10/2014

Time: 06:30

Strength: 2/3

Previous: 16.5%

Notes: The Urban investment released by the National Bureau of Statistics of China refers to the total amount money of the activities in construction and purchase of fixed assets, it is a comprehensive index which reflect the scale, pace, proportional relations and use orientation of the fixed assets investment. A large urban investment is an indicative of China's overall economic growth and strong domestic demand. As the Chinese economy has influence on the global economy, this economic indicator would have an impact on the Forex market. In general, a high reading is seen as positive (or bullish) CNY, while a low reading is seen as negative (or bearish) for the CNY.

#END

JP All Industry Activity Index (MoM)

Location: Japan

Date: 21/10/2014

Time: 05:30

Strength: 2/3

Previous:

Notes: The All Industry Activity Index released by the Ministry of Economy, Trade and Industry captures the monthly change in overall production by all industries of the Japanese economy. The index indicates the Japanese GDP and the overall growth figures, providing insight into current levels of Japanese economic expansion. Normally, a high reading is seen as positive (or bullish) for the JPY, while a low reading is seen as negative (or bearish).

#END

AU RBA Meeting's Minutes

Location: Australia

Date: 21/10/2014

Time: 02:30

Strength: 2/3

Previous:

Notes: The minutes of the Reserve Bank of Australia meetings are published two weeks after the interest rate decision. The minutes give a full account of the policy discussion, including differences of view. They also record the votes of the individual members of the Committee. If the RBA is hawkish about the inflationary outlook for the economy, then the markets see a higher possibility of a rate increase, and that is positive for the AUD.

#END

AU RBA Meeting's Minutes

Location: Australia

Date: 21/10/2014

Time: 02:30

Strength: 2/3

Previous:

Notes: The minutes of the Reserve Bank of Australia meetings are published two weeks after the interest rate decision. The minutes give a full account of the policy discussion, including differences of view. They also record the votes of the individual members of the Committee. If the RBA is hawkish about the inflationary outlook for the economy, then the markets see a higher possibility of a rate increase, and that is positive for the AUD.

#END

Alderney and Guernsey are to offer dual licensing to the spread betting industry. This landmark agreement between the gambling regulator in Alderney and the financial regulator in its sister island of Guernsey will further enhance the islands' world-leading offering to the eGambling sector.

Robin Le Prevost, the Director for Business Development for Alderney commented:

'We were aware that the spread betting, CFD and binary options sector were looking for a quality jurisdiction from which to base their operations. We have often been approached, but the Alderney Gambling Control Commission has been unable to accommodate their requirements due to the investment nature of some of the products.'

'The AGCC has been in discussions with the Guernsey Financial Services Commission over the demarcation of their respective remits and this collaboration is the result.'

'The two organisations have combined their skill sets and will offer duel licensing covering the full range of products this sector specialises in. This means binary options, binary betting, contracts for differences and all types of spread betting can be covered by this dual licensing system.

'Alderney is world renowned for its beneficial commercial environment, stable government and technical prowess and these compelling elements will remain and are indeed enhanced by Guernsey's involvement. The combined benefits of the two islands offers a highly attractive location from which to base companies from this sector

Read more: http://www.sbcnews.co.uk/europe/2014/10/20/alderney-and-guernsey-to-jointly-regulate-binary-options-and-cfds/#ixzz3GiMwGZP4

UK Retail Sales ex-Fuel (YoY)

Location: United Kingdom

Date: 20/10/2014

Time: 09:30

Strength: 2/3

Previous: 4.5%

Notes: The Retail Sales ex-fuel released by the National Statistics is a measure of changes in sales of the British retail sector excluding fuel. It shows the performance of the retail sector in the short term. Percent changes reflect the rate of changes of such sales. The changes are widely followed as an indicator of consumer spending. A high reading is seen as positive (or bullish) for the Pound, while a low reading is seen as negative (or bearish).

#END

JP Merchandise Trade Balance Total

Location: Japan

Date: 20/10/2014

Time: 00:50

Strength: 2/3

Previous: -��948.5B

Notes: The Merchandise Trade Balance Total released by the Ministry of Finance is a measure of balance amount between import and export. A positive value shows a trade surplus while a negative value shows a trade deficit. Japan is so much dependant on exports that the Japanese economy heavily relies on a trade surplus. Therefore, any variation in the figures influences the domestic economy. If a steady demand in exchange for Japanese exports is seen, that would turn into a positive.

#END

JP Adjusted Merchandise Trade Balance

Location: Japan

Date: 20/10/2014

Time: 00:50

Strength: 2/3

Previous: -��924.161B

Notes: Adjusted Merchandise Trade Balance is released by the Customs Office and it's a seasonal measure of balance amount between import and export. A positive value shows a trade surplus while a negative value shows a trade deficit. Japan is so much dependant on exports. A high reading is positive for the JPY, while a low reading is seen as negative (or bearish).

#END

20 years ago we remember seeing idiot FDs trading spread bets ahead of announcements in their own firms. Nothing changes. Plenty of educated people who are properly thick when it comes to trying to rip off both a bookmaker and a regulated OTC activity.  Stick to trading in Belize!

The roll-out of ASIC's market surveillance system in 2010 made it easier and quicker to identify suspicious trading. Photo: Arsineh Houspian

A swathe of insider trader and market manipulation cases has revealed how white collar criminals are using complex financial products including contracts for difference (CFD) to avoid detection.

Lawyers said the highly leverage nature of CFDs made them particularly tempting for younger traders because they require far less capital and can reap larger profits than if the same amount was invested in underlying shares. Recent cases have reflected an increased popularity of CFDs, including that of Nigel Derek Heath, 51, of Wahroonga in Sydney who pleaded guilty to two market manipulation charges at the Downing Centre Local Court on Tuesday.

The charges against the experienced day trader – who had a $1.4 million CFD portfolio and a masters in law – concerned trades in four resource ­companies between February 16, 2012 and October 11, 2013.

Geoff Hoffman, partner in charge at Clayton Utz in Sydney said CFDs gave traders economic exposure to movements in a share price without actually owning shares in a particular stock.

They could be exploited by anyone who was confident about the direction a stock was going to move, he said.

Insider traders were also attracted to contracts for difference because they believed the trades would be harder for regulators to detect.

But Mr Hoffman said many came undone because the investment bank that sold the CFD would ordinarily hedge their position.

'They think they won't get caught'

"They think they won't get caught. And were it not for the hedging activity, it might be unlikely that it would be detected," Mr Hoffman said.

"It's the order the bank puts into the market to execute the hedge that throws a red flag up with the regulators about a big buy that's occurred im­mediately before a big announcement."

Allens partner Matthew McLennan said CFDs were attractive to young ­traders who did not have access to large amounts of capital.

"If you own the shares it puts a ­natural limit on how much you can gain," Mr McLennan said. "Whereas with a CFD, or some other form of lev­erage, you increase your upside substantially and risk a lot less capital."

Directors had obligations to disclose their CFDs just as any share holding. But directors could also take advantage of CFDs because they did not involve registering a transfer, and could therefore have a better chance of the trades escaping detection by the company, Mr McLennan said.

Norton Rose Fulbright partner David Porter, said the initial margin that traders took was often between 3 per cent and 30 per cent of an actual share price.

Mr Porter worked on a case involving Sonray Capital Markets, which provided advice on CFDs until it collapsed in 2010 owing more than $46 million.

Readily available, many products

The company's former sole director Russell Andrew Johnson, was sentenced to 6½ years jail for false accounting, theft and deception and conspiracy to steal in April while its former chief executive Scott Kenneth Murray, was sentenced to a non-parole period of two years and six months for 10 similar charges in October 2011.

Mr Porter said what made CFDs attractive was that they were readily available in any number of over-the-counter products including shares, ­currencies and futures.

"They are harder to detect because they don't involve share registers," he said. "You can just enter into some over-the-counter contract."

Ashurst partner Jonathan Gordon said another attraction of CFDs was that they could also be used to establish a short position.

For example if a person has inside information which they think will ultimately lead to a fall in the share price, the person may choose to take a short CFD position to profit from a later share price fall, Mr Gordon said.

He said while many traders might not know that the insider dealing laws applied to CFDs and other derivatives, and not just to shares, the recent success of ASIC's enforcement actions would have now made it clear.

"Traders should be aware that ASIC has very sophisticated surveillance ­systems in place to detect unusual ­trading activity, including through CFDs," Mr Gordon said.

Suspicious activity passed on

Head of compliance at provider IG Natalie Beirne said it also had legal ­obligations to monitor trading for ­market abuse and insider trading and any information about suspicious activity was passed directly to ASIC.

Ms Beirne said it needed efficient CFD markets for the products to be as transparent and viable as possible.

Though dissimilar to a share registry, IG held information about who held CFDs that could be readily provided to authorities, she said.

"Our dealing desk monitors transactions processed, they are familiar with what is going on in the market, announcements and trading halts, and will report anything that is suspicious," Ms Beirne said.

It also had an automated monitoring system that picked up unusual trading patterns and large trades.

Australian Institute of Company Directors Steve Burrell, general manager of communications said companies could impose additional prohibitions or restrictions on CFD trading and require directors to disclose trades under their internal trading policies.

"A trading policy must also be lodged with the ASX for disclosure to the market so any restrictions on trading are public knowledge," Mr Burrell said.

ASIC devoting resources to the issue

An ASIC spokesman Andre Khoury said it pursued insider trading matters involving all financial products and it was just as possible to get caught in the CFD market as in the physical market.

"ASIC is devoting its resources to confronting the issue and has the systems to effectively detect, analyse and investigate potential cases of insider trading," Mr Khoury said.

The roll-out of ASIC's market surveillance system in 2010 made it easier and quicker to identify suspicious trading by connecting patterns and relationships.

It could make inquiries into the listed derivatives space that it previously could not pursue because it did not have the information, he said.

Trading by directors was subject to more scrutiny because of the expectation they possess market sensitive information unavailable to the rest of the market.

"The message is simple – we are watching trades on Australia's financial markets and can detect misconduct faster and more easily than ever before."

ASIC had brought more than 33 cases since 2009 that resulted in more than 20 convictions.

The Australian Financial Review

US Reuters/Michigan Consumer Sentiment Index

Location: United States

Date: 17/10/2014

Time: 14:55

Strength: 2/3

Previous: 84.6

Notes: The Reuters/Michigan Consumer Sentiment Index released by the Reuters/University of Michigan is a survey of personal consumer confidence in economic activity. It shows a picture of whether or not consumers are willing to spend money. Generally speaking, a high reading anticipates positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).

#END