{"id":16366,"date":"2016-03-07T10:46:16","date_gmt":"2016-03-07T05:16:16","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=16366"},"modified":"2016-03-07T10:46:16","modified_gmt":"2016-03-07T05:16:16","slug":"monday-7th-march-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/monday-7th-march-european-open-briefing\/","title":{"rendered":"Monday 7th March: 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 0.50 %, Shanghai Composite gained 0.80 %, Hang Seng rose 0.50 %, ASX 200 rallied 1.20 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1261 (-0.80 %), Silver at $15.55 (-0.85 %), WTI Oil at $36.57 (+1.85 %), Brent Oil at $39.45 (+1.90 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.89, UK 10 year yield at 1.49, German 10 year yield at 0.24\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAustralia AiG PCI (Feb): 46.1 (prev 46.3)\n\t<\/li>\n<li>\n\t\tAustralia ANZ Job Advertisements (MoM) Feb: -1.2% (prev rev 0.9%)\n\t<\/li>\n<li>\n\t\tPBoC Fixes Yuan At 6.5113 (prev 6.5284)\n\t<\/li>\n<li>\n\t\tChinese Iron Ore &amp; Rebar Futures Limit Up\n\t<\/li>\n<li>\n\t\tPBoC&#39;s Yi: China Won&#39;t See Negative Interest Rate &#8212; MNI\n\t<\/li>\n<li>\n\t\tYi: CNY Expectations Will Normalise &#8212; BBG\n\t<\/li>\n<li>\n\t\tJapanese PM Abe: Will Seek Fiscal Health While Growing The Economy &#8212; BBG\n\t<\/li>\n<li>\n\t\tAbe: Did Not Discuss Negative Rates With BoJ Before Implementation &#8212; RTRS\n\t<\/li>\n<li>\n\t\tAbe: Abenomics Has Not Failed &#8212; BBG\n\t<\/li>\n<li>\n\t\tBoJ Gov Kuroda: Will Assess Impact Of Negative Rates On Money Markets &#8212; RTRS\n\t<\/li>\n<li>\n\t\tKuroda: Want To Dispel Concerns That QQE Cannot Be Expanded\n\t<\/li>\n<li>\n\t\tKuroda: Negative Rates Has Big Benefits for Individuals &amp; Corporates\n\t<\/li>\n<li>\n\t\tKuroda: Chinese Stock Fall Can Be Seen As Correction\n\t<\/li>\n<li>\n\t\tMoody&#39;s Places Saudi Arabia&#39;s Aa3 Rating On Review For Downgrade\n\t<\/li>\n<li>\n\t\tAsian shares hit two-month high after solid U.S. job growth &#8211; RTRS\n\t<\/li>\n<li>\n\t\tDollar struggles for traction, Aussie rally takes a breather &#8211; RTRS\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>CFTC Positioning Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tEUR short 68K vs 47K short prior week\n\t<\/li>\n<li>\n\t\tGBP short 39K vs. 33K short prior week\n\t<\/li>\n<li>\n\t\tJPY long 60K vs. 53K long prior week\n\t<\/li>\n<li>\n\t\tCAD short 30K vs. 37K short prior week\n\t<\/li>\n<li>\n\t\tCHF short 1.5K vs. 2K short prior week\n\t<\/li>\n<li>\n\t\tAUD long 17K vs. 10K long prior week\n\t<\/li>\n<li>\n\t\tNZD short 4.2K vs 6.6K short prior week\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe US Dollar strengthened against most major currencies overnight. EUR\/USD started the new trading week around 1.10 and fell to a low of 1.0984 later in the session. Support is seen at 1.0957, while resistance is noted at 1.1045. GBP\/USD consolidated between 1.4195 and 1.4225 overnight; the key resistance level remains 1.4250 (Friday&#39;s high).&nbsp; USD\/JPY has traded 113.50-93 in Asia, but is currently unchanged on the day, around 113.70.\n<\/p>\n<p>\n\tAUD\/USD opened at 0.7425, slightly lower from Friday&#39;s close, and fell to 0.74 ahead of the Tokyo open. From there, it bounced and rose back to 0.7420. Meanwhile, NZD\/USD consolidated in a 0.6780-0.6805 range.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t09:00 GMT &#8211; Italian PPI\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; Euro Zone Sentix Investor Confidence\n\t<\/li>\n<li>\n\t\t18:00 GMT &#8211; FOMC Member Brainard speaks\n\t<\/li>\n<li>\n\t\t18:00 GMT &#8211; FOMC Member Fischer speaks\n\t<\/li>\n<li>\n\t\t23:20 GMT &#8211; RBA Assistant Governor Lowe speaks\n\t<\/li>\n<li>\n\t\t23:50 GMT &#8211; Japan GDP\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>The Week Ahead:<\/strong><br \/>\n<\/h4>\n<p>\n\t<u>Tuesday, March 8th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:30 GMT &#8211; Australian NAB Business Confidence\n\t<\/li>\n<li>\n\t\t03:00 GMT &#8211; Chinese Trade Balance\n\t<\/li>\n<li>\n\t\t06:45 GMT &#8211; Swiss Unemployment Rate\n\t<\/li>\n<li>\n\t\t07:00 GMT &#8211; German Industrial Production\n\t<\/li>\n<li>\n\t\t07:45 GMT &#8211; French Trade Balance\n\t<\/li>\n<li>\n\t\t08:15 GMT &#8211; Swiss CPI\n\t<\/li>\n<li>\n\t\t09:15 GMT &#8211; Bank of England Governor Carney speaks\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone GDP\n\t<\/li>\n<li>\n\t\t13:15 GMT &#8211; Canadian Housing Starts\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; Canadian Building Permits\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Wednesday, March 9th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:30 GMT &#8211; Australian Home Loans\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Industrial Production\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Manufacturing 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; Bank of Canada Rate Decision\n\t<\/li>\n<li>\n\t\t15:30 GMT &#8211; US Crude Oil Inventories\n\t<\/li>\n<li>\n\t\t20:00 GMT &#8211; RBNZ Rate Decision\n\t<\/li>\n<li>\n\t\t20:00 GMT &#8211; RBNZ Rate Statement\n\t<\/li>\n<li>\n\t\t20:05 GMT &#8211; RBNZ Governor Wheeler speaks\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Thursday, March 10th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t01:30 GMT &#8211; Chinese CPI\n\t<\/li>\n<li>\n\t\t01:30 GMT &#8211; Chinese PPI\n\t<\/li>\n<li>\n\t\t07:00 GMT &#8211; German Trade Balance\n\t<\/li>\n<li>\n\t\t12:45 GMT &#8211; ECB Rate Decision\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; ECB Press Conference\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Initial Jobless Claims\n\t<\/li>\n<li>\n\t\t21:15 GMT &#8211; BoC Governor Poloz speaks\n\t<\/li>\n<li>\n\t\t21:45 GMT &#8211; New Zealand Business NZ PMI\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Friday, March 11th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t07:00 GMT &#8211; German CPI\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 Industrial Production\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Trade Balance\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; Canadian Employment Change\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; Canadian Unemployment Rate\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.50 %, Shanghai Composite gained 0.80 %, Hang Seng rose 0.50 %, ASX 200 rallied 1.20 % Commodities: Gold at $1261 (-0.80 %), Silver at $15.55 (-0.85 %), WTI Oil at $36.57 (+1.85 %), Brent Oil at $39.45 (+1.90 %) Rates: US 10 year yield at 1.89, UK &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/monday-7th-march-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 7th March: 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-16366","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\/16366","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=16366"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16366\/revisions"}],"predecessor-version":[{"id":16367,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16366\/revisions\/16367"}],"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=16366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=16366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=16366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}