{"id":16455,"date":"2016-03-16T10:48:23","date_gmt":"2016-03-16T05:18:23","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=16455"},"modified":"2016-03-16T10:48:23","modified_gmt":"2016-03-16T05:18:23","slug":"wednesday-16th-march-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/wednesday-16th-march-european-open-briefing\/","title":{"rendered":"Wednesday 16th 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 0.70 %, Shanghai Composite gained 0.15 %, Hang Seng fell 0.40 %, ASX 200 declined 0.10 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1232 (+0.15 %), Silver at $15.29 (-1.50 %), WTI Oil at $36.90 (+1.50 %), Brent Oil at $39.15 (+1.05 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.96, UK 10 year yield at 1.55, German 10 year yield at 0.32\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tBoJ&#39;s Kuroda: Exports rising gradually, but exports and production have shown weakness\n\t<\/li>\n<li>\n\t\tBoJ&#39;s Kuroda: BoJ will ease again in all three forms (quantity, quality and rates) if needed: BBG\n\t<\/li>\n<li>\n\t\tBoJ Gov Kuroda: Hypothetically there is still room to cut negative rates even further: BBG\n\t<\/li>\n<li>\n\t\tGlobal stocks and dollar on tenterhooks for Fed, oil bounces &#8211; RTRS\n\t<\/li>\n<li>\n\t\tFed seen holding U.S. rates for now, leaving door open for June hike &#8211; RTRS\n\t<\/li>\n<li>\n\t\tOil rises as U.S. producers struggle; inventories may weigh &#8211; RTRS\n\t<\/li>\n<li>\n\t\tDollar on hold as Fed looms, kiwi &amp; sterling pressured &#8211; RTRS\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tUSD\/JPY rallied overnight after comments from BoJ Governor Kuroda, who said that further easing might be possible, including cutting rates further into negative territory. USD\/JPY rallied from 113.02 in the early Asian session to a high of 113.55, while EUR\/JPY reached the 126.00 level.\n<\/p>\n<p>\n\tMeanwhile, price action in the other major pairs was fairly quiet, as traders are waiting for today&rsquo;s Fed decision. EUR\/USD traded in a 1.1095-1.1112 range, while GBP\/USD consolidated between 1.4124 and 1.4160. GBP\/USD has come under renewed pressure, but is looking slightly oversold in the short-term. 1.4105-20 is a solid support area and unless employment data, which will be released today at 09:30 GMT, arrives well below expectations, a bounce from here back towards 1.42 seems possible.\n<\/p>\n<p>\n\tAUD\/USD spent the Asian session in a 0.7040-72 range and is approaching an area of key support at 0.7420-25, followed by 0.7380-90. Much will depend on the FOMC tonight, but as long as it can stay above 0.7350, techs remain bullish.\n<\/p>\n<p>\n\tThe focus today will be on the FOMC meeting. The Fed is expected to keep rates unchanged, but traders will expect to get further clues from the statement and Yellen&rsquo;s press conference on when the next rate hike might come.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t09:30 GMT &#8211; UK Unemployment Rate\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Claimant Count Change\n\t<\/li>\n<li>\n\t\t12:30 GMT &#8211; US Building Permits\n\t<\/li>\n<li>\n\t\t12:30 GMT &#8211; US Housing Starts\n\t<\/li>\n<li>\n\t\t12:30 GMT &#8211; US CPI\n\t<\/li>\n<li>\n\t\t13:15 GMT &#8211; US Industrial Production\n\t<\/li>\n<li>\n\t\t13:15 GMT &#8211; US Manufacturing Production\n\t<\/li>\n<li>\n\t\t14:30 GMT &#8211; US Crude Oil Inventories\n\t<\/li>\n<li>\n\t\t18:00 GMT &#8211; Federal Reserve Rate Decision\n\t<\/li>\n<li>\n\t\t18:00 GMT &#8211; FOMC Statement\n\t<\/li>\n<li>\n\t\t18:30 GMT &#8211; Fed Chair Yellen speaks\n\t<\/li>\n<li>\n\t\t21:45 GMT &#8211; New Zealand GDP\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.70 %, Shanghai Composite gained 0.15 %, Hang Seng fell 0.40 %, ASX 200 declined 0.10 % Commodities: Gold at $1232 (+0.15 %), Silver at $15.29 (-1.50 %), WTI Oil at $36.90 (+1.50 %), Brent Oil at $39.15 (+1.05 %) Rates: US 10 year yield at 1.96, UK &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/wednesday-16th-march-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 16th 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-16455","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\/16455","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=16455"}],"version-history":[{"count":2,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16455\/revisions"}],"predecessor-version":[{"id":16457,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16455\/revisions\/16457"}],"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=16455"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=16455"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=16455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}