{"id":15520,"date":"2015-12-03T10:45:58","date_gmt":"2015-12-03T05:15:58","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=15520"},"modified":"2015-12-03T10:45:58","modified_gmt":"2015-12-03T05:15:58","slug":"thursday-3rd-december-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/thursday-3rd-december-european-open-briefing\/","title":{"rendered":"Thursday 3rd December: 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 0.20 %, Shanghai Composite gained 0.60 %, Hang Seng fell 0.40 %, ASX declined 0.60 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1050 (-0.30 %), Silver at $13.93 (-0.50 %), WTI Oil at $40.20 (+0.65 %), Brent Oil at $42.75 (-0.10 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.18, UK 10 year yield at 1.77, German 10 year yield at 0.49\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tChina Caixin Services PMI (Nov): 51.2 (prev 52.0)\n\t<\/li>\n<li>\n\t\tChina Caixin Composite PMI (Nov): 50.5 (prev 49.9)\n\t<\/li>\n<li>\n\t\tAustralia HIA New Home Sales (MoM) Oct: -3.0% (prev -4.0%)\n\t<\/li>\n<li>\n\t\tAustralia Trade Balance (Oct): AUD -3305bln (exp -2600mln prev AUD -2317mln)\n\t<\/li>\n<li>\n\t\tAustralia AiG PSI (Nov): 48.2 (prev 48.9)\n\t<\/li>\n<li>\n\t\tJapan Nikkei Services PMI (Nov): 51.6 (prev 52.2)\n\t<\/li>\n<li>\n\t\tJapan Nikkei Composite PMI (Nov): 52.3 (prev 52.3)\n\t<\/li>\n<li>\n\t\tSouth Korea GDP SA (QoQ) Q3, F: 1.3% (flash 1.2%)\n\t<\/li>\n<li>\n\t\tSouth Korea GDP (YoY) Q3, F: 2.7% (flash 2.6%)\n\t<\/li>\n<li>\n\t\tPBoC Fixes Yuan Reference Rate At 6.3982 (prev 6.3958)\n\t<\/li>\n<li>\n\t\tSaudis, Persian Gulf States Willing To Cut Oil Production If Iran, Iraq, Non-OPEC Participate &#8211; WSJ\n\t<\/li>\n<li>\n\t\tECB said to downgrade inflation forecast for 2017 to 1.6% from 1.7% in macro forecasts tomorrow &#8211; BBG\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe US Dollar regained strength after yesterday&#39;s stronger than expected ADP employment change data. GBP\/USD fell to a fresh 8-month low at 1.4894. It bounced from there, but only managed to recover to 1.4950 before heading lower again. The next notable support level is 1.4856, which is the mid-April low, followed by 1.48, the July 2013 low. USD\/JPY rallied yesterday, but failed once again to sustain momentum above 123.70. It then fell back to 123.10 and spent the Asian session in a 123.10-40 range. Meanwhile, price action in EUR\/USD remains very choppy ahead of the ECB meeting today. The pair fell to 1.0550 in the mid-NY session, but then rallied to 1.0625 into the NY close. In Asia, it came under slight selling pressure and eventually declined to 1.0590.\n<\/p>\n<p>\n\tThe commodity currencies are quite resilient, with AUD\/USD and NZD\/USD still above 0.73 and 0.66 respectively. 0.7340 &amp; 0.7380 are the two main obstacles for AUD\/USD now, while resistance in NZD\/USD is seen at 0.6690 and 0.6705.<a name=\"_GoBack\"><\/a>\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t08:45 GMT &#8211; Italian Services PMI\n\t<\/li>\n<li>\n\t\t08:50 GMT &#8211; French Services PMI\n\t<\/li>\n<li>\n\t\t08:55 GMT &#8211; German Services PMI\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; Euro Zone Services PMI\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Services PMI\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone Retail Sales\n\t<\/li>\n<li>\n\t\t12:45 GMT &#8211; ECB Rate Decision\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; ECB Press Conference\n\t<\/li>\n<li>\n\t\t13:30 GMT &ndash; US Initial Jobless Claims\n\t<\/li>\n<li>\n\t\t14:45 GMT &#8211; US Services PMI\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; Fed Chair Yellen speaks\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; US ISM Non-Manufacturing PMI\n\t<\/li>\n<li>\n\t\t18:10 GMT &#8211; FOMC Member Fischer speaks\n\t<\/li>\n<\/ul>\n<p>\n\t&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.20 %, Shanghai Composite gained 0.60 %, Hang Seng fell 0.40 %, ASX declined 0.60 % Commodities: Gold at $1050 (-0.30 %), Silver at $13.93 (-0.50 %), WTI Oil at $40.20 (+0.65 %), Brent Oil at $42.75 (-0.10 %) Rates: US 10 year yield at 2.18, UK 10 &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/thursday-3rd-december-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Thursday 3rd December: 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-15520","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\/15520","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=15520"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/15520\/revisions"}],"predecessor-version":[{"id":15521,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/15520\/revisions\/15521"}],"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=15520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=15520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=15520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}