{"id":16015,"date":"2016-01-29T10:40:35","date_gmt":"2016-01-29T05:10:35","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=16015"},"modified":"2016-01-29T10:40:35","modified_gmt":"2016-01-29T05:10:35","slug":"friday-29th-january-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/friday-29th-january-european-open-briefing\/","title":{"rendered":"Friday 29th January: 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 0.90 %, Shanghai Composite and Hang Seng both rallied 2.00 %, ASX 200 gained 0.05 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1114.80 (-0.10 %), Silver at $14.25 (+0.05 %), WTI Oil at $33.60 (+1.15 %), Brent Oil at $35.20 (+1.15 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.97, UK 10 year yield at 1.69, German 10 year yield at 0.40\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Bank of Japan:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tBank of Japan Adopts Negative Interest Rate: -0.1%\n\t<\/li>\n<li>\n\t\tBank of Japan voted 5-4 on negative rates\n\t<\/li>\n<li>\n\t\tBoJ: Risks Are Skewed To Downside For Price Scenario\n\t<\/li>\n<li>\n\t\tBoJ: FY2015 Core CPI Forecast Is 0.1 %\n\t<\/li>\n<li>\n\t\tFY2016 Core CPI Forecast Is 0.8 %\n\t<\/li>\n<li>\n\t\tFY2017 Core CPI Forecast Is 1.8 %\n\t<\/li>\n<li>\n\t\tBoJ: CPI To Hit 2% Target Around 1h Of FY2017\n\t<\/li>\n<li>\n\t\tBoJ: FY2015 GDP Forecast Is 1.1%\n\t<\/li>\n<li>\n\t\tFY2016 GDP Forecast Is 1.5%\n\t<\/li>\n<li>\n\t\tBoJ: Will Cut Rate Further If Needed\n\t<\/li>\n<li>\n\t\tBoJ: Risks Are Skewed To Downside For Economic Scenario\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tJapan CPI (YoY) Dec: 0.2% (exp 0.2% prev 0.3%)\n\t<\/li>\n<li>\n\t\tJapan CPI Ex-Fresh Food (YoY) Dec: 0.1% (exp 0.1% prev 0.1%)\n\t<\/li>\n<li>\n\t\tJapan Unemployment Rate (Dec): 3.3% (exp 3.3% prev 3.3%)\n\t<\/li>\n<li>\n\t\tJapan Overall Household Spending (YoY) Dec: -4.4% (exp -2.5% prev -2.9%)\n\t<\/li>\n<li>\n\t\tUK GfK Consumer Confidence (Jan): 4 (exp 1 prev 2)\n\t<\/li>\n<li>\n\t\tAustralia PPI (QoQ) Q4: 0.3% (prev 0.9%)\n\t<\/li>\n<li>\n\t\tAustralia PPI (YoY) Q4: 1.9% (prev 1.7%)\n\t<\/li>\n<li>\n\t\tNew Zealand M3 Money Supply (YoY) Dec: 8.1% (prev 8.4%)\n\t<\/li>\n<li>\n\t\tNew Zealand Building Permits (MoM) Dec: 2.3% (prev 1.8%)\n\t<\/li>\n<li>\n\t\tPBoC Fixes Yuan Reference Rate At 6.5516 (prev 6.5528)\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe Bank of Japan surprises markets overnight by introducing negative interest rates. Most market participants were expecting no change in the BoJ policy and were caught by surprise. USD\/JPY immediately rallied to a high of 121.40 after the announcement, but retraced most of the gains within the next half hour. USD\/JPY is consolidating around 120.00 into the European open.\n<\/p>\n<p>\n\tThe price action in USD\/JPY affected most major currency pairs as well. EUR\/USD fell from 1.0930 to 1.0885 after the BoJ announcement, but bounced from there and quickly recovered back to 1.0940. The impact on GBP\/USD was small, the pair only fell 20 pips, to 1.4335.\n<\/p>\n<p>\n\tThe commodity currencies remain bid with AUD\/USD back above 0.71 after support at 0.7070 held. NZD\/USD is struggling with resistance at 0.65, but has retraced most of the post-RBNZ losses from Wednesday evening.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t06:30 GMT &#8211; French GDP\n\t<\/li>\n<li>\n\t\t07:00 GMT &#8211; German Retail Sales\n\t<\/li>\n<li>\n\t\t07:45 GMT &#8211; French CPI\n\t<\/li>\n<li>\n\t\t08:00 GMT &#8211; Spanish GDP\n\t<\/li>\n<li>\n\t\t08:00 GMT &#8211; Spanish CPI\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; Italian PPI\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 GDP\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; Canadian GDP\n\t<\/li>\n<li>\n\t\t14:45 GMT &#8211; US Chicago PMI\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; US Michigan Consumer Confidence\n\t<\/li>\n<li>\n\t\t18:30 GMT &#8211; FOMC Member Williams speaks\n\t<\/li>\n<li>\n\t\t20:30 GMT &#8211; CFTC Positioning Data\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.90 %, Shanghai Composite and Hang Seng both rallied 2.00 %, ASX 200 gained 0.05 % Commodities: Gold at $1114.80 (-0.10 %), Silver at $14.25 (+0.05 %), WTI Oil at $33.60 (+1.15 %), Brent Oil at $35.20 (+1.15 %) Rates: US 10 year yield at 1.97, UK 10 &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/friday-29th-january-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Friday 29th 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-16015","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\/16015","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=16015"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16015\/revisions"}],"predecessor-version":[{"id":16016,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16015\/revisions\/16016"}],"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=16015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=16015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=16015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}