{"id":15626,"date":"2015-12-14T10:14:46","date_gmt":"2015-12-14T04:44:46","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=15626"},"modified":"2015-12-14T10:14:46","modified_gmt":"2015-12-14T04:44:46","slug":"monday-14th-december-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/monday-14th-december-european-open-briefing\/","title":{"rendered":"Monday  14th 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 1.96 %, Shanghai Composite gained 0.55 %, Hang Seng fell 0.95 %, ASX 200 declined 1.55 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1075 (-0.03 %), Silver at $13.90 (+0.10 %), WTI Oil at $35.45 (-0.50 %), Brent Oil at $38.10 (-0.55 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.16, UK 10 year yield at 1.81, German 10 year yield at 0.54\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tChina Retail Sales (YoY) Nov: 11.2% (exp 11.1% prev 11.0%)\n\t<\/li>\n<li>\n\t\tChina Industrial Production (YoY) Nov: 6.2% (exp 5.7% prev 5.6%)\n\t<\/li>\n<li>\n\t\tJapan Large Manufacturing Index: 12 (exp 11 prev 12)\n\t<\/li>\n<li>\n\t\tJapan Large Manufacturing Outlook: 7 (exp 11 prev 10)\n\t<\/li>\n<li>\n\t\tJapan Large Non-Manufacturing Index: 25 (exp 23 prev 25)\n\t<\/li>\n<li>\n\t\tJapan Large Non-Manufacturing Outlook: 18 (exp 22 prev 19)\n\t<\/li>\n<li>\n\t\tJapan Large All Industry Capex: 10.8% (exp 10.2% prev 10.9%)\n\t<\/li>\n<li>\n\t\tPBoC Fixes Yuan Reference Rate At 6.4495 (prev 6.4358)\n\t<\/li>\n<li>\n\t\tGulf Markets Slide On Oil &#8212; GT\n\t<\/li>\n<li>\n\t\tWSJ&rsquo;s Hilsenrath: Fed Officials Worry Interest Rates Will Go Up, Only To Come Back Down\n\t<\/li>\n<li>\n\t\tAsia stocks drop as oil rout deepens, yuan extends slide&nbsp; &#8211; RTRS\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 172K vs. short 182K previous\n\t<\/li>\n<li>\n\t\tGBP short 24K vs. short 28K previous\n\t<\/li>\n<li>\n\t\tJPY short 68K vs. short 75K previous\n\t<\/li>\n<li>\n\t\tCAD short 40K vs short 39K previous\n\t<\/li>\n<li>\n\t\tCHF short 26K vs. short 25K previous\n\t<\/li>\n<li>\n\t\tAUD short 34K vs short 47K previous\n\t<\/li>\n<li>\n\t\tNZD long 9K vs. long 5K previous\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tEUR\/USD opened around 1.0984 in Sydney and fell to a low of 1.0954 in Asia, as the USD strengthened across the board. GBP\/USD started the week at 1.5215 and declined to 1.5180, from where it bounced back to 1.52 at the Tokyo open. USD\/JPY recovered slightly after heavy losses on Friday. It stood at 121.15 in Sydney and fell to 120.75, but found decent support there and made it to 121.20.\n<\/p>\n<p>\n\tThe commodity currencies remain mostly unchanged on the day. AUD\/USD began the new trading week at 0.7205, fell to 0.7160 and rallied back to 0.7205. NZD\/USD consolidated in a 0.6690-0.6720 range, while price action in USD\/CAD remains choppy. The pair opened at 1.3715, roughly 40 pips lower from Friday&#39;s close, filled the gap and then fell back to 1.3730.\n<\/p>\n<p>\n\tThere are plenty of important data releases and events this week, but the focus will be on the Federal Reserve rate dec<a name=\"_GoBack\"><\/a>ision on Wednesday, when the central bank is expected to hike rates by 25 bps.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t09:00 GMT &#8211; Italian CPI\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone Industrial Production\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; ECB Member Nowotny speaks\n\t<\/li>\n<li>\n\t\t11:00 GMT &#8211; ECB President Draghi speaks\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; ECB Member Costa 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 15th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t<strong>00:30 GMT &#8211; RBA Meeting Minutes<\/strong>\n\t<\/li>\n<li>\n\t\t08:00 GMT &#8211; Spanish CPI\n\t<\/li>\n<li>\n\t\t08:15 GMT &#8211; Swiss PPI\n\t<\/li>\n<li>\n\t\t08:30 GMT &#8211; Riksbank Rate Decision\n\t<\/li>\n<li>\n\t\t<strong>09:30 GMT &#8211; UK CPI<\/strong>\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; German ZEW Economic Sentiment\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone ZEW Economic Sentiment\n\t<\/li>\n<li>\n\t\t<strong>13:30 GMT &#8211; US CPI<\/strong>\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US NY Empire State Manufacturing Index\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; US NAHB Housing Market Index\n\t<\/li>\n<li>\n\t\t16:45 GMT &#8211; Bank of Canada Governor Poloz speaks\n\t<\/li>\n<li>\n\t\t21:45 GMT &#8211; New Zealand Current Account\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Wednesday, December 16th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t08:00 GMT &#8211; French Manufacturing PMI\n\t<\/li>\n<li>\n\t\t08:00 GMT &#8211; French Services PMI\n\t<\/li>\n<li>\n\t\t08:30 GMT &#8211; German Manufacturing PMI\n\t<\/li>\n<li>\n\t\t08:30 GMT &#8211; German Services PMI\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; Euro Zone Manufacturing PMI\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; Euro Zone Services PMI\n\t<\/li>\n<li>\n\t\t<strong>09:30 GMT &#8211; UK Claimant Count Change<\/strong>\n\t<\/li>\n<li>\n\t\t<strong>09:30 GMT &#8211; UK Unemployment Rate<\/strong>\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone CPI\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Building Permits\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Housing Starts\n\t<\/li>\n<li>\n\t\t14:15 GMT &#8211; US Industrial Production\n\t<\/li>\n<li>\n\t\t14:15 GMT &#8211; US Manufacturing Production\n\t<\/li>\n<li>\n\t\t14:45 GMT &#8211; US Manufacturing PMI\n\t<\/li>\n<li>\n\t\t<strong>19:00 GMT &#8211; FOMC Rate Decision<\/strong>\n\t<\/li>\n<li>\n\t\t<strong>19:00 GMT &#8211; FOMC Statement<\/strong>\n\t<\/li>\n<li>\n\t\t<strong>21:45 GMT &#8211; New Zealand GDP<\/strong>\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Thursday, December 17th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t09:00 GMT &#8211; German IFO Business Climate\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; Norges Bank Rate Decision\n\t<\/li>\n<li>\n\t\t<strong>09:30 GMT &#8211; UK Retail Sales<\/strong>\n\t<\/li>\n<li>\n\t\t<strong>13:30 GMT &#8211; US Initial Jobless Claims<\/strong>\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Philadelphia Manufacturing Index\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; US CB Leading Index\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Friday, December 18th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:00 GMT &#8211; New Zealand ANZ Business Confidence\n\t<\/li>\n<li>\n\t\t<strong>06:30 GMT &#8211; Bank of Japan Press Conference<\/strong>\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; Euro Zone Current Account\n\t<\/li>\n<li>\n\t\t<strong>13:30 GMT &#8211; Canadian CPI<\/strong>\n\t<\/li>\n<li>\n\t\t14:45 GMT &#8211; US Services PMI\n\t<\/li>\n<\/ul>\n<p>\n\t&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 1.96 %, Shanghai Composite gained 0.55 %, Hang Seng fell 0.95 %, ASX 200 declined 1.55 % Commodities: Gold at $1075 (-0.03 %), Silver at $13.90 (+0.10 %), WTI Oil at $35.45 (-0.50 %), Brent Oil at $38.10 (-0.55 %) Rates: US 10 year yield at 2.16, UK &hellip; 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