{"id":16494,"date":"2016-03-21T10:52:22","date_gmt":"2016-03-21T05:22:22","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=16494"},"modified":"2016-03-21T10:52:22","modified_gmt":"2016-03-21T05:22:22","slug":"monday-21st-march-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/monday-21st-march-european-open-briefing\/","title":{"rendered":"Monday 21st 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: Shanghai Composite gained 1.80 %, Hang Seng rose 0.15 %, ASX 200 fell 0.25 %, Nikkei closed for holiday\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1252 (-0.20 %), Silver at $15.84 (+0.15 %), WTI Oil at $40.66 (-1.20 %), Brent Oil at $40.90 (-0.75 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.88, UK 10 year yield at 1.45, German 10 year yield at 0.21\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tChina MNI Business Indicator Mar: 49.9 (prev. 49.9)\n\t<\/li>\n<li>\n\t\tNew Zealand Credit Card Spending (MoM) Feb: -0.4% (prev. 2.30%)\n\t<\/li>\n<li>\n\t\tNew Zealand Credit Card Spending (YoY) Feb: 7.3% (prev. 8.90%)\n\t<\/li>\n<li>\n\t\tAustralian PM Turnbull: Any early election would be held on July 2\n\t<\/li>\n<li>\n\t\tAsian stocks slip as oil skids; China up &#8211; RTRS\n\t<\/li>\n<li>\n\t\tYen finds favour as Asia&#39;s appetite for risk wanes &#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 78K vs. 72K short prior week\n\t<\/li>\n<li>\n\t\tGBP short 14K vs. 49K short prior week\n\t<\/li>\n<li>\n\t\tJPY long 46K vs. 64K long prior week\n\t<\/li>\n<li>\n\t\tCAD short 17K vs. 26K short prior week\n\t<\/li>\n<li>\n\t\tCHF long 5K vs.&nbsp; 0.1K short prior week\n\t<\/li>\n<li>\n\t\tAUD long 13K vs. 29K long prior week\n\t<\/li>\n<li>\n\t\tNZD long 1K vs. 2K 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 rose against most major currencies overnight, as a risk averse sentiment prevailed in Asian markets. EUR\/USD started the day around 1.1256, roughly 14 pips lower from Friday&#39;s close. It then rallied to 1.1285, but momentum waned there and it fell back below 1.1270. Meanwhile, GBP\/USD declined to a low of 1.4435, down 40 pips from Friday&#39;s close. AUD\/USD opened around 0.76 and came under pressure in the mid-session as stocks opened lower and commodities fell. The pair fell to a low of 0.7568, but found support there and climbed back towards 0.76. USD\/JPY started the new trading week at 111.56 and fell to a low of 111.23 after the Hong Kong open. From there, it was able to bounce and it rose back to 111.55, where the pair is currently consolidating.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t09:00 GMT &#8211; Euro Zone Current Account\n\t<\/li>\n<li>\n\t\t14:00 GMT &#8211; US Existing Home Sales\n\t<\/li>\n<li>\n\t\t16:40 GMT &#8211; FOMC Member Lockhart speaks\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>The Week Ahead:<\/strong><br \/>\n<\/h4>\n<p>\n\t<u>Tuesday, March 22nd<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:30 GMT &#8211; Australia House Price Index\n\t<\/li>\n<li>\n\t\t02:00 GMT &#8211; Japan Manufacturing PMI\n\t<\/li>\n<li>\n\t\t05:30 GMT &#8211; RBA Governor Stevens speaks\n\t<\/li>\n<\/ul>\n<ul>\n<li>\n\t\t08:00 GMT &#8211; French Manufacturing PMI\n\t<\/li>\n<li>\n\t\t08:00 GMT &#8211; French Services PMI\n\t<\/li>\n<li>\n\t\t08:30 GMT &#8211; German Manufacturing PMI\n\t<\/li>\n<li>\n\t\t08:30 GMT &#8211; German Services PMI\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; Euro Zone Manufacturing PMI\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; Euro Zone Services PMI\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK CPI\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; German ZEW Economic Sentiment\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone ZEW Economic Sentiment\n\t<\/li>\n<li>\n\t\t13:00 GMT &#8211; US House Price Index\n\t<\/li>\n<li>\n\t\t13:45 GMT &#8211; US Manufacturing PMI\n\t<\/li>\n<li>\n\t\t14:00 GMT &#8211; US Richmond Manufacturing Index\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Wednesday, March 23rd<\/u>\n<\/p>\n<ul>\n<li>\n\t\t14:00 GMT &#8211; US New Home Sales\n\t<\/li>\n<li>\n\t\t14:30 GMT &#8211; US Crude Oil Inventories\n\t<\/li>\n<li>\n\t\t21:45 GMT &#8211; New Zealand Trade Balance\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Thursday, March 24th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t07:00 GMT &#8211; German GfK Consumer Climate\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Retail Sales\n\t<\/li>\n<li>\n\t\t12:30 GMT &#8211; US Core Durable Goods Orders\n\t<\/li>\n<li>\n\t\t12:30 GMT &#8211; US Initial Jobless Claims\n\t<\/li>\n<li>\n\t\t13:45 GMT &#8211; US Services PMI\n\t<\/li>\n<li>\n\t\t23:30 GMT &#8211; Japan CPI\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Friday, March 25th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t06:30 GMT &#8211; French GDP\n\t<\/li>\n<li>\n\t\t12:30 GMT &#8211; US GDP\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Shanghai Composite gained 1.80 %, Hang Seng rose 0.15 %, ASX 200 fell 0.25 %, Nikkei closed for holiday Commodities: Gold at $1252 (-0.20 %), Silver at $15.84 (+0.15 %), WTI Oil at $40.66 (-1.20 %), Brent Oil at $40.90 (-0.75 %) Rates: US 10 year yield at 1.88, UK &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/monday-21st-march-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 21st 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-16494","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\/16494","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=16494"}],"version-history":[{"count":2,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16494\/revisions"}],"predecessor-version":[{"id":16496,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16494\/revisions\/16496"}],"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=16494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=16494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=16494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}