{"id":16042,"date":"2016-02-03T10:49:45","date_gmt":"2016-02-03T05:19:45","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=16042"},"modified":"2016-02-03T10:49:45","modified_gmt":"2016-02-03T05:19:45","slug":"wednesday-3rd-february-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/wednesday-3rd-february-european-open-briefing\/","title":{"rendered":"Wednesday 3rd February: 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 3.40 %, Shanghai Composite fell 1.20 %, Hang Seng and ASX 200 both declined 2.40 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1127 (+0.05 %), Silver at $14.28 (-0.10 %), WTI Oil at $29.66 (-0.70 %), Brent Oil at $32.50 (-0.65 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.85, UK 10 year yield at 1.54, German 10 year yield at 0.30\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 (Jan): 52.4 (prev 50.2)\n\t<\/li>\n<li>\n\t\tChina Caixin Composite PMI (Jan): 50.1 (prev 49.4)\n\t<\/li>\n<li>\n\t\tJapan Nikkei Services PMI (Jan): 52.4 (prev 51.5)\n\t<\/li>\n<li>\n\t\tJapan Nikkei Composite PMI (Jan): 52.6 (prev 52.2)\n\t<\/li>\n<li>\n\t\tSingapore Nikkei PMI (Jan): 52.5 (prev 52.1)\n\t<\/li>\n<li>\n\t\tAustralia Building Approvals (MoM) Dec: 9.2% (exp 4.5% prev -12.7%) Australia Building Approvals (YoY) Dec: -2.5% (exp -7.2% prev -8.4%)\n\t<\/li>\n<li>\n\t\tAustralia Trade Balance (Dec): AUD -3535mln (exp AUD -2450mln prev rev AUD -2727mln)\n\t<\/li>\n<li>\n\t\tAustralia Posts 2015 Trade Deficit Of AUD 32.7 Billion, Largest On Record\n\t<\/li>\n<li>\n\t\tNew Zealand Unemployment Rate (Q4): 5.3% (exp 6.1% prev 6.0%)\n\t<\/li>\n<li>\n\t\tNew Zealand Employment Change (QoQ) Q4: 0.9% (exp 0.8% prev -0.4%)\n\t<\/li>\n<li>\n\t\tNew Zealand Employment Change (YoY) Q4: 1.3% (exp 1.1% prev 1.5%)\n\t<\/li>\n<li>\n\t\tNew Zealand Participation Rate (Q4): 68.4% (exp 68.9% prev rev 68.7%)\n\t<\/li>\n<li>\n\t\tNew Zealand Average Hourly Earnings (QoQ) Q4: 0.2% (exp 0.5% prev 0.4%)\n\t<\/li>\n<li>\n\t\tRBNZ Governor Wheeler: Monetary Policy Will Continue To Be Accommodative\n\t<\/li>\n<li>\n\t\tWheeler: May Ease Further If Global Outlook Worsens\n\t<\/li>\n<li>\n\t\tWheeler: Inappropriate To Cut Rate In Response To Low Oil Price\n\t<\/li>\n<li>\n\t\tWheeler: Don&#39;t Want Price Expectations To Drop Significantly\n\t<\/li>\n<li>\n\t\tWheeler: Will Avoid Mechanistic Response To Low Inflation\n\t<\/li>\n<li>\n\t\tWheeler: Some Further Exchange Rate Depreciation Is Desirable\n\t<\/li>\n<li>\n\t\tPBoC Fixes Yuan Reference Rate At 6.5521 (prev 6.5510)\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe New Zealand Dollar rose after better than expected employment data. Employment change increased 0.9 %, while the unemployment rate fell from 6.0 % to 5.3 %. NZD\/USD rallied from 0.6490 to 0.6540 after the data release and extended gains to 0.6550 later in the session.\n<\/p>\n<p>\n\tThe Aussie Dollar fell after weaker than anticipated Australian trade data, with AUD\/UD declining to 0.70. The support held is holding so far, but is looking fragile. Should it break, next support is seen at 0.6920.\n<\/p>\n<p>\n\tUSD\/JPY extended losses overnight, as the decline in stocks &amp; oil weighed on the currency pair. It fell as low as 119.40 and support is now seen in the 118.80-119.00 area. EUR\/USD consolidated in a 1.0912-36 range, while GBP\/USD traded 1.4390-1.44415.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t08:15 GMT &#8211; Spanish Services PMI\n\t<\/li>\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; Italian CPI\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone Retail Sales\n\t<\/li>\n<li>\n\t\t13:15 GMT &#8211; US ADP Nonfarm Employment Change\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\t15:30 GMT &#8211; US Crude Oil Inventories\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 3.40 %, Shanghai Composite fell 1.20 %, Hang Seng and ASX 200 both declined 2.40 % Commodities: Gold at $1127 (+0.05 %), Silver at $14.28 (-0.10 %), WTI Oil at $29.66 (-0.70 %), Brent Oil at $32.50 (-0.65 %) Rates: US 10 year yield at 1.85, UK 10 &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/wednesday-3rd-february-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 3rd February: 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-16042","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\/16042","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=16042"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16042\/revisions"}],"predecessor-version":[{"id":16043,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16042\/revisions\/16043"}],"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=16042"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=16042"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=16042"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}