{"id":15124,"date":"2015-10-29T10:27:23","date_gmt":"2015-10-29T04:57:23","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=15124"},"modified":"2015-10-29T10:27:23","modified_gmt":"2015-10-29T04:57:23","slug":"thursday-29th-october-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/thursday-29th-october-european-open-briefing\/","title":{"rendered":"Thursday 29th October: European Open Briefing"},"content":{"rendered":"<h4>\n\t<strong>Global Markets:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAsian stock markets: Nikkei down 0.35 %, Shanghai Composite gained 0.15 %, Hang Seng fell 0.30 %, ASX lost 1.40 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1159 (-1.40 %), Silver at $15.89 (-2.50 %), WTI Oil at $45.75 (-0.40 %), Brent Oil at $48.86 (-0.65 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.08, UK 10 year yield at 1.80, German 10 year yield at 0.47\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tJapan Industrial Production (MoM) Sep, P: 1.0% (exp -0.6% prev -1.2%)\n\t<\/li>\n<li>\n\t\tJapan Industrial Production (YoY) Sep, P: -0.9% (exp -2.6% prev -0.4%)\n\t<\/li>\n<li>\n\t\tAustralia HIA New Home Sales (MoM) Sep: -4.0% (prev 2.3%)\n\t<\/li>\n<li>\n\t\tAustralia Export Price Index (QoQ) Q3: 0.0% (exp 0.6% prev -4.4%)\n\t<\/li>\n<li>\n\t\tAustralia Import Price Index (QoQ) Q3: 1.4% (exp 1.5% prev 1.4%)\n\t<\/li>\n<li>\n\t\tSingapore Unemployment Rate (Q3): 2.0% (exp 2.1% prev 2.0%)\n\t<\/li>\n<li>\n\t\tPBoC Fixes Yuan Reference Rate At 6.3596 (prev 6.3536)\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>FOMC Statement:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tFOMC leaves rates unchanged\n\t<\/li>\n<li>\n\t\tFed says labour market slack has diminished since early this year\n\t<\/li>\n<li>\n\t\tFed says risks nearly balanced, monitoring global developments\n\t<\/li>\n<li>\n\t\tFed sees solid gains in household spending, business investment\n\t<\/li>\n<li>\n\t\tFed: Survey-based measures of inflation outlook remained stable\n\t<\/li>\n<li>\n\t\tFed repeats it sees inflation rising toward 2% in medium term\n\t<\/li>\n<li>\n\t\tFed: Pace of job gains `slowed,&#39; unemployment `held steady&#39;\n\t<\/li>\n<li>\n\t\tFed repeats housing improved further, exports been `soft&#39;\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Reserve Bank of New Zealand Statement:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tRBNZ leaves rates unchanged\n\t<\/li>\n<li>\n\t\tRBNZ: Further cuts seems likely\n\t<\/li>\n<li>\n\t\tRBNZ: Appropriate to watch and wait\n\t<\/li>\n<li>\n\t\tRBNZ: Stronger NZD means lower OCR would be necessary\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe US Dollar strengthened across the board after the FOMC statement, which was more hawkish than the market anticipated. The Greenback gained against all major currencies, except the Japanese Yen. USD\/JPY rallied to 121.20 after the statement, but failed to sustain momentum and eventually fell back to 120.70 in Asia. With the pair struggling and no major US data until next week&#39;s NFP release, further consolidation seems likely. EUR\/USD fell from 1.1060 to 1.09 post-FOMC and the next major support level now lies at 1.0805, which is the low of May &amp; July 2015. The British Pound didn&#39;t decline as much as the Euro, with GBP\/USD down roughly 90 pips after the FOMC. The next notable support level lies at 1.5200, the October 14th low.\n<\/p>\n<p>\n\tCommodities currencies suffered as well, although the Canadian Dollar received some support from the sharp rise in Oil prices. AUD\/USD fell from 0.72 to 0.7120 after the FOMC and extended losses overnight to 0.7080. NZD\/USD found good support at 0.6620 and bounced from there back to 0.67, but quickly ran out of momentum. It fell back to .6650 and a retest of the .6620 support level seems likely.<a name=\"_GoBack\"><\/a>\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t08:55 GMT &#8211; German Unemployment Rate\n\t<\/li>\n<li>\n\t\t08:55 GMT &#8211; German Unemployment Change\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone Consumer Confidence\n\t<\/li>\n<li>\n\t\t12:30 GMT &#8211; US GDP\n\t<\/li>\n<li>\n\t\t12:30 GMT &#8211; US Initial Jobless Claims\n\t<\/li>\n<li>\n\t\t13:00 GMT &#8211; German CPI\n\t<\/li>\n<li>\n\t\t13:10 GMT &#8211; FOMC Member Lockhart speaks\n\t<\/li>\n<li>\n\t\t14:00 GMT &#8211; US Pending Home Sales\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.35 %, Shanghai Composite gained 0.15 %, Hang Seng fell 0.30 %, ASX lost 1.40 % Commodities: Gold at $1159 (-1.40 %), Silver at $15.89 (-2.50 %), WTI Oil at $45.75 (-0.40 %), Brent Oil at $48.86 (-0.65 %) Rates: US 10 year yield at 2.08, UK 10 &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/thursday-29th-october-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Thursday 29th October: European Open Briefing<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":12469,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-15124","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/15124","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/comments?post=15124"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/15124\/revisions"}],"predecessor-version":[{"id":15125,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/15124\/revisions\/15125"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/media\/12469"}],"wp:attachment":[{"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=15124"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=15124"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=15124"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}