{"id":16387,"date":"2016-03-09T10:33:21","date_gmt":"2016-03-09T05:03:21","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=16387"},"modified":"2016-03-09T10:33:21","modified_gmt":"2016-03-09T05:03:21","slug":"wednesday-9th-march-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/wednesday-9th-march-european-open-briefing\/","title":{"rendered":"Wednesday 9th 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 1.00 %, Shanghai Composite fell 2.90 %, Hang Seng declined 0.55 %, ASX 200 rose 0.90 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1255 (-0.60 %), Silver at $15.28 (-0.70 %), WTI Oil at $36.62 (+0.30 %), Brent Oil at $39.75 (+0.30 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.86, UK 10 year yield at 1.39, German 10 year yield at 0.18\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAustralia Home Loans (MoM) Jan: -3.9% (exp -3.0% prev 2.6%)\n\t<\/li>\n<li>\n\t\tAustralia Investment Lending (MoM) Jan: -1.6% (prev 0.6%)\n\t<\/li>\n<li>\n\t\tJapan Money Stock M2 (YoY) Feb: 3.1% (exp 3.2% prev 3.2%)\n\t<\/li>\n<li>\n\t\tJapan Money Stock M3 (YoY) Feb: 2.5% (exp 2.6% prev rev 2.6%)\n\t<\/li>\n<li>\n\t\tPBoC Fixes Yuan At 6.5106 (prev 6.5041)\n\t<\/li>\n<li>\n\t\tAsia shares retreat from two-month high on China, oil concerns &#8211; RTRS\n\t<\/li>\n<li>\n\t\tYen back in favour as China data hurts appetite for risk &#8211; RTRS\n\t<\/li>\n<li>\n\t\tOil prices dip on stronger dollar, demand concerns &#8211; RTRS\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe US Dollar regained some strength as equity markets and oil declined. EUR\/USD fell from 1.1060 to a low of 1.1010 yesterday and overnight, it extended losses to 1.0967. Support is next seen at 1.0940 and then 1.0900. The focus now lies on the ECB meeting tomorrow, where the central bank is expected to cut rates by at least 10bps. Meanwhile, GBP\/USD has come under renewed pressure as well. It fell from 1.4270 to 1.4170 and in Asia consolidated in a 1.4175-1.4215 range.\n<\/p>\n<p>\n\tThe Japanese Yen benefited from the risk-off sentiment and USD\/JPY declined to 112.40 overnight. Support now lies at 112.15, while resistance can be expected at 113.50 and 114.25. AUD\/USD is holding surprisingly well given the decrease in risk appetite and overnight, it only fell to a low of 0.7412. Key support is seen at 0.7380 and techs remain bullish as long as the pair is above 0.7260.\n<\/p>\n<p>\n\tUSD\/CAD rallied as oil prices fell sharply yesterday. The pair reached a high of 1.3446 in Asia, up nearly 200 pips from Monday&#39;s low. Resistance is seen at 1.3470 and 1.3550 and it would take a break above 1.36 for techs to change from bearish to bullish.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\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&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 1.00 %, Shanghai Composite fell 2.90 %, Hang Seng declined 0.55 %, ASX 200 rose 0.90 % Commodities: Gold at $1255 (-0.60 %), Silver at $15.28 (-0.70 %), WTI Oil at $36.62 (+0.30 %), Brent Oil at $39.75 (+0.30 %) Rates: US 10 year yield at 1.86, UK &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/wednesday-9th-march-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 9th 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-16387","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\/16387","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=16387"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16387\/revisions"}],"predecessor-version":[{"id":16388,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16387\/revisions\/16388"}],"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=16387"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=16387"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=16387"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}