{"id":16155,"date":"2016-02-11T10:39:14","date_gmt":"2016-02-11T05:09:14","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=16155"},"modified":"2016-02-11T10:39:14","modified_gmt":"2016-02-11T05:09:14","slug":"thursday-11th-february-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/thursday-11th-february-european-open-briefing\/","title":{"rendered":"Thursday 11th February: European Open Briefing"},"content":{"rendered":"<h4 dir=\"ltr\">\n\tGlobal Markets:<br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAsian stock markets: Hang Seng down 4.15 %, ASX 200 gained 0.85 %, Shanghai Composite and Nikkei closed for holiday\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1208 (+1.15 %), Silver at $15.35 (+0.45 %), WTI Oil at $26.95 (-1.80 %), Brent Oil at $30.57 (-0.85 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.67, UK 10 year yield at 1.42, German 10 year yield at 0.25\n\t<\/li>\n<\/ul>\n<h4>\n\tNews &amp; Data:<br \/>\n<\/h4>\n<ul dir=\"ltr\">\n<li>\n\t\tNew Zealand Business NZ Manufacturing PMI (Jan): 57.9 (prev rev 57.0)\n\t<\/li>\n<li>\n\t\tNew Zealand REINZ House Sales (YoY) Jan: 4.3% (prev 3.5%)\n\t<\/li>\n<li>\n\t\tAustralia Consumer Inflation Expectations (Feb): 3.6% (prev 3.6%)\n\t<\/li>\n<li>\n\t\tUK RICS House Price Balance (Jan): 49% (exp 52% prev rev 49%)\n\t<\/li>\n<li>\n\t\tSpot Gold Hits Highest Level Since May 2015\n\t<\/li>\n<li>\n\t\tScramble for safety boosts yen, gold and bonds &#8211; RTRS\n\t<\/li>\n<li>\n\t\tS&amp;P 500 ends flat; Fed sees risks but unlikely to reverse course &#8211; RTRS\n\t<\/li>\n<li>\n\t\tOil prices fall on U.S. storage glut, ongoing economic woes &#8211; RTRS\n\t<\/li>\n<\/ul>\n<h4 dir=\"ltr\">\n\tMarkets Update:<br \/>\n<\/h4>\n<p dir=\"ltr\">\n\tOvernight, all eyes were again on the USD\/JPY. The pair began the new trading day around 113.60, but came under renewed pressure as Hong Kong markets opened and eventually collapsed to a fresh low of 112.53. Minor support can be expected at 112.00 and 111.00, but there is now no significant tech support until 110.00.\n<\/p>\n<p dir=\"ltr\">\n\tUSD\/JPY flows have put the US Dollar under broad pressure. EUR\/USD, which fell to a low of 1.1160 during Fed Chair Yellen&#39;s speech yesterday, quickly recovered and rallied to a high of 1.1320 overnight. A retest of the 1.1340 resistance level seems imminent and should it break higher, it would pave the way for a 1.15 test.\n<\/p>\n<p dir=\"ltr\">\n\tThe British Pound also bounced amid the USD weakness and GBP\/USD managed to rally from yesterday&#39;s NY low at 1.4450 to a high of 1.4565 in Asia. Immediate resistance is noted at 1.4585, with 1.4667 still the key level to watch to the topside.\n<\/p>\n<p dir=\"ltr\">\n\tThe main event today will be US initial jobless claims at&nbsp;13:30 GMT&nbsp;and for those who trade the Scandinavian currencies, keep in mind that the Riksbank will decide on interest rates at&nbsp;08:30 GMT.\n<\/p>\n<h4 dir=\"ltr\">\n\tUpcoming Events:<br \/>\n<\/h4>\n<ul dir=\"ltr\">\n<li>\n\t\t08:15 GMT&nbsp;&#8211; Swiss CPI\n\t<\/li>\n<li>\n\t\t08:30 GMT&nbsp;&#8211; Swedish Central Bank Rate Decision\n\t<\/li>\n<li>\n\t\t13:30 GMT&nbsp;&#8211; US Initial Jobless Claims\n\t<\/li>\n<li>\n\t\t15:00 GMT&nbsp;&#8211; Fed Chair Yellen testifies\n\t<\/li>\n<li>\n\t\t22:30 GMT&nbsp;&#8211; RBA Governor Stevens speaks\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Hang Seng down 4.15 %, ASX 200 gained 0.85 %, Shanghai Composite and Nikkei closed for holiday Commodities: Gold at $1208 (+1.15 %), Silver at $15.35 (+0.45 %), WTI Oil at $26.95 (-1.80 %), Brent Oil at $30.57 (-0.85 %) Rates: US 10 year yield at 1.67, UK 10 year &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/thursday-11th-february-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Thursday 11th 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-16155","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\/16155","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=16155"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16155\/revisions"}],"predecessor-version":[{"id":16156,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16155\/revisions\/16156"}],"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=16155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=16155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=16155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}