{"id":15771,"date":"2016-01-06T11:07:17","date_gmt":"2016-01-06T05:37:17","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=15771"},"modified":"2016-01-06T11:07:17","modified_gmt":"2016-01-06T05:37:17","slug":"wednesday-6th-january-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/wednesday-6th-january-european-open-briefing\/","title":{"rendered":"Wednesday 6th January: European Open Briefing"},"content":{"rendered":"<h3>\n\t<strong>Global Markets:<\/strong><br \/>\n<\/h3>\n<ul>\n<li>\n\t\tAsian stock markets: Nikkei down 1.10 %, Shanghai Composite rose 0.70 %, Hang Seng fell and ASX both fell 1.15 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1078 (-0.05 %), Silver at $13.95 (-0.20 %), WTI Oil at $36.02 (+0.15 %), Brent Oil at $36.50 (-0.30 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.23, UK 10 year yield at 1.88, German 10 year yield at 1.88\n\t<\/li>\n<\/ul>\n<h3>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h3>\n<ul>\n<li>\n\t\tJapan Nikkei Services PMI (Dec): 51.5 (prev 51.6)\n\t<\/li>\n<li>\n\t\tChina Caixin Composite PMI (Dec): 49.4 (prev 50.5)\n\t<\/li>\n<li>\n\t\tChina Westpac-MNI Consumer Sentiment (Dec): 113.7 (prev 113.1)\n\t<\/li>\n<li>\n\t\tPBoC Fixes Yuan Reference Rate At 6.5314 (prev 6.5169)\n\t<\/li>\n<li>\n\t\tGoldman Sees Limited Room For Further Yuan Depreciation &#8212; BBG\n\t<\/li>\n<li>\n\t\tChina Bid For Slow Yuan Drop Is Seen Boosting Intervention Cost &#8212; BBG\n\t<\/li>\n<\/ul>\n<h3>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h3>\n<p>\n\tIt was another risk-off session, with the Japanese Yen the best performing currency, while the commodity currencies suffered and most major stock indices fell. Market sentiment has been negative since the new trading year started, due to worries about the Chinese economy. Turmoil in the Middle East region and overnight news of a nuclear test conducted by North Korea further added to the risk aversion.\n<\/p>\n<p>\n\tUSD\/JPY fell sharply at the Tokyo open, from 119.05 to a low of 118.35. It recovered slightly after that, rising to 118.80, but remains under pressure. EUR\/USD was rather quiet after heavy losses in the past two trading days. The pair consolidated in a 1.0740-75 range overnight. Similar price action in GBP\/USD, which spent the session in a 1.4655-80 range.\n<\/p>\n<p>\n\tThe commodity currencies were under pressure, with AUD down 0.55 % and NZD losing 0.75 % against the USD overnight. AUD\/USD fell from 0.7170 to 0.7105 shortly after the Tokyo open, while NZD\/USD declined from 0.6705 at the Asian open to a low of 0.6633. USD\/CAD broke above the 1.40 level yesterday and extended gains to 1.4040 overnight.\n<\/p>\n<h3>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h3>\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\t13:30 GMT &#8211; Canadian Trade Balance\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; US ISM Non-Manufacturing PMI\n\t<\/li>\n<li>\n\t\t19:00 GMT &#8211; FOMC Meeting Minutes\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 1.10 %, Shanghai Composite rose 0.70 %, Hang Seng fell and ASX both fell 1.15 % Commodities: Gold at $1078 (-0.05 %), Silver at $13.95 (-0.20 %), WTI Oil at $36.02 (+0.15 %), Brent Oil at $36.50 (-0.30 %) Rates: US 10 year yield at 2.23, UK 10 &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/wednesday-6th-january-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 6th January: 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-15771","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\/15771","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=15771"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/15771\/revisions"}],"predecessor-version":[{"id":15772,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/15771\/revisions\/15772"}],"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=15771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=15771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=15771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}