{"id":16131,"date":"2016-02-10T10:28:16","date_gmt":"2016-02-10T04:58:16","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=16131"},"modified":"2016-02-10T10:37:56","modified_gmt":"2016-02-10T05:07:56","slug":"wednesday-10th-february-european-opening","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/wednesday-10th-february-european-opening\/","title":{"rendered":"Wednesday 10th February: European Opening"},"content":{"rendered":"<p>\n\t<strong>Global Markets:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\tAsian stock markets: Nikkei down 3.60 %, ASX 200 declined 1.40 %, Shanghai Composite and Hang Seng closed for holiday\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1191 (-0.60 %), Silver at $15.25 (-1.30 %), WTI Oil at $28.50 (+2.10 %), Brent Oil at $31.05 (+2.40 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.72, UK 10 year yield at 1.41, German 10 year yield at 0.24\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>News &amp; Data:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\tJapan PPI (MoM) Jan: -0.9% (exp -0.7% prev -0.3%)\n\t<\/li>\n<li>\n\t\tJapan PPI (YoY) Jan: -3.1% (exp -2.8% prev -3.4%)\n\t<\/li>\n<li>\n\t\tJapan Housing Loans (YoY) Q4: 2.2% (prev 2.4%)\n\t<\/li>\n<li>\n\t\tAustralia HIA New Home Sales (MoM) Dec: 6.0% (prev -2.7%)\n\t<\/li>\n<li>\n\t\tAustralia Westpac Consumer Confidence Index (Feb): 101.3 (prev 97.3)\n\t<\/li>\n<li>\n\t\tWestpac forecasts NZ will enter deflation in 2016\n\t<\/li>\n<li>\n\t\tNikkei 225 Hits Lowest Level Since Oct 2014\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>Markets Update:<\/strong>\n<\/p>\n<p>\n\tUSD\/JPY came under renewed pressure as Asian stock markets opened lower again. The pair fell from a high of 115.25 in the early session to 114.25, only 4 pips away from yesterday&#39;s low. Support at 115.20\/25 held for the third time in 24 hours, but it is looking very fragile and a break lower seems likely. Next support is then seen at 113.50.\n<\/p>\n<p>\n\tThe Euro continues to benefit from the risk aversion in markets and climbed to a high of 1.1340 in yesterday&#39;s NY session. Overnight, it retraced some of the gains, falling to a low of 1.1282, but it remains well bid overall. Expect good support at 1.1243, a former key resistance level.\n<\/p>\n<p>\n\tThe Australian Dollar was consolidating in Asia, with AUD\/USD caught in a 0.7040-80 range. There are no relevant data releases out of Australia this week, so unless Fed Chair Yellen shakes up markets tonight, it could remain quiet in the AUD pairs. NZD\/USD traded 0.6605-45 overnight and support is seen at 0.6560, while the key resistance levels are now 0.6670 and 0.6750.\n<\/p>\n<p>\n\t<strong>Upcoming Events:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\t08:30 GMT &#8211; Swedish CPI\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; Italian Industrial Production\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; Norwegian CPI\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Manufacturing Production\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Industrial Production\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; UK NIESR GDP Estimate\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; Fed Chair Yellen speaks\n\t<\/li>\n<li>\n\t\t15:30 GMT &#8211; US Crude Oil Inventories\n\t<\/li>\n<li>\n\t\t21:30 GMT &#8211; New Zealand Business PMI\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 3.60 %, ASX 200 declined 1.40 %, Shanghai Composite and Hang Seng closed for holiday Commodities: Gold at $1191 (-0.60 %), Silver at $15.25 (-1.30 %), WTI Oil at $28.50 (+2.10 %), Brent Oil at $31.05 (+2.40 %) Rates: US 10 year yield at 1.72, UK 10 year &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/wednesday-10th-february-european-opening\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 10th February: European Opening<\/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-16131","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\/16131","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=16131"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16131\/revisions"}],"predecessor-version":[{"id":16132,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16131\/revisions\/16132"}],"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=16131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=16131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=16131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}