{"id":15534,"date":"2015-12-07T11:04:26","date_gmt":"2015-12-07T05:34:26","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=15534"},"modified":"2015-12-07T11:04:26","modified_gmt":"2015-12-07T05:34:26","slug":"monday-7th-december-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/monday-7th-december-european-open-briefing\/","title":{"rendered":"Monday 7th 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 up 1.20 %, Shanghai Composite gained 0.40 %, Hang Seng rose 0.25 %, ASX 200 up 0.10 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1084 (+0.05 %), Silver at $14.56 (+0.15 %), WTI Oil at $39.66 (-0.80 %), Brent Oil at $42.80 (-1.00 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.29, UK 10 year yield at 1.93, German 10 year yield at 1.93\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAustralia AiG PCI (Nov): 50.7 (prev 52.1)\n\t<\/li>\n<li>\n\t\tPBoC Fixes Yuan Reference Rate At 6.3985 (prev 6.3851)\n\t<\/li>\n<li>\n\t\tJapan Econ Min Amari Foresees 0% Growth In Japan&rsquo;s July To September GDP &#8212; JT\n\t<\/li>\n<li>\n\t\tGulf Markets Slip After Oil Price Drop &#8212; RTRS\n\t<\/li>\n<li>\n\t\tUAE Backs OPEC\u2008Plan To Maintain Stable Crude Supplies &#8212; 7D\n\t<\/li>\n<li>\n\t\tChina 2016 GDP May Grow More Than 6.5% &#8212; Sec. Journal\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>CFTC Positioning Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tEUR short 182K vs. short 175K previous\n\t<\/li>\n<li>\n\t\tGBP short 28K vs. short 32K previous\n\t<\/li>\n<li>\n\t\tJPY short 75K vs. short 77K previous\n\t<\/li>\n<li>\n\t\tCAD short 39K vs. short 39K previous\n\t<\/li>\n<li>\n\t\tCHF short 25K vs. short 22K previous\n\t<\/li>\n<li>\n\t\tAUD short 47K vs. short 57K previous\n\t<\/li>\n<li>\n\t\tNZD long 5K vs. long 4K previous\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tIt has been a quiet start into the new trading week in FX and most of the major pairs consolidated in a tight range. EUR\/USD traded in a 1.0854-87 range and sentiment is mixed after a less dovish than expected ECB and stronger than expected US employment data. In the medium- and long-term, EUR sentiment remains negative, but in the short-term, there is potential for a further short squeeze. The key level to watch is 1.10 and should we see a break above it, there will likely be further upside momentum.\n<\/p>\n<p>\n\tGBP\/USD opened around 1.51 in Sydney and spent the session in 1.5095-1.5115 range. USD\/JPY traded 123.15-30, while AUD\/USD was consolidating between 0.7320 and 0.7340. USD\/CAD rose from 1.3365 to 1.34 as Oil prices fell overnight. Oil is under renewed pressure after the OPEC meeting and it seems that it could revisit the yearly low at $37.70 soon.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t07:00 GMT &#8211; German Industrial Production\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; Euro Zone Sentix Investor Confidence\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; Bank of England Governor Carney speaks\n\t<\/li>\n<li>\n\t\t17:30 GMT &#8211; FOMC Member Bullard speaks\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>The Week Ahead:<\/strong><br \/>\n<\/h4>\n<p>\n\t<u>Tuesday, December 8th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:30 GMT &#8211; Australian NAB Business Confidence\n\t<\/li>\n<li>\n\t\t02:00 GMT &#8211; Chinese Trade Balance\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Industrial Production\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Manufacturing Production\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone GDP\n\t<\/li>\n<li>\n\t\t13:15 GMT &#8211; Canadian Housing Starts\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; Canadian Building Permits\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; US JOLTs Job Openings\n\t<\/li>\n<li>\n\t\t17:50 GMT &#8211; Bank of Canada Governor Poloz speaks\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Wednesday, December 9th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t01:30 GMT &#8211; Chinese CPI\n\t<\/li>\n<li>\n\t\t06:45 GMT &#8211; Swiss Unemployment Rate\n\t<\/li>\n<li>\n\t\t07:00 GMT &#8211; German Trade Balance\n\t<\/li>\n<li>\n\t\t20:00 GMT &#8211; RBNZ Rate Decision\n\t<\/li>\n<li>\n\t\t20:00 GMT &#8211; RBNZ Statement\n\t<\/li>\n<li>\n\t\t20:05 GMT &#8211; RBNZ Governor Wheeler speaks\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Thursday, December 10th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:30 GMT &#8211; Australian Employment Change\n\t<\/li>\n<li>\n\t\t00:30 GMT &#8211; Australian Unemployment Rate\n\t<\/li>\n<li>\n\t\t07:45 GMT &#8211; French CPI\n\t<\/li>\n<li>\n\t\t08:30 GMT &#8211; SNB Rate D<a name=\"_GoBack\"><\/a>ecision\n\t<\/li>\n<li>\n\t\t08:30 GMT &#8211; SNB Chairman Jordan speaks\n\t<\/li>\n<li>\n\t\t12:00 GMT &#8211; Bank of England Rate Decision\n\t<\/li>\n<li>\n\t\t12:00 GMT &#8211; Bank of England Meeting Minutes\n\t<\/li>\n<li>\n\t\t18:00 GMT &#8211; Bank of England Governor Carney speaks\n\t<\/li>\n<li>\n\t\t18:00 GMT &#8211; Bundesbank President Weidmann speaks\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Friday, December 11th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t07:00 GMT &#8211; German CPI\n\t<\/li>\n<li>\n\t\t07:45 GMT &#8211; French Current Account\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US PPI\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Retail Sales\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; US Michigan Consumer Sentiment\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 1.20 %, Shanghai Composite gained 0.40 %, Hang Seng rose 0.25 %, ASX 200 up 0.10 % Commodities: Gold at $1084 (+0.05 %), Silver at $14.56 (+0.15 %), WTI Oil at $39.66 (-0.80 %), Brent Oil at $42.80 (-1.00 %) Rates: US 10 year yield at 2.29, UK &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/monday-7th-december-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 7th 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-15534","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\/15534","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=15534"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/15534\/revisions"}],"predecessor-version":[{"id":15535,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/15534\/revisions\/15535"}],"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=15534"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=15534"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=15534"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}