{"id":16622,"date":"2016-04-01T10:09:23","date_gmt":"2016-04-01T04:39:23","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=16622"},"modified":"2016-04-01T10:09:23","modified_gmt":"2016-04-01T04:39:23","slug":"friday-1st-april-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/friday-1st-april-european-open-briefing\/","title":{"rendered":"Friday 1st April: European Open Briefing"},"content":{"rendered":"<div>\n<h4>\n\t\t<strong>Global Markets:<\/strong><br \/>\n\t<\/h4>\n<ul>\n<li>\n\t\t\tAsian stock markets: Nikkei down 2.90 %, Shanghai Composite lost 1.40 %, Hang Seng declined 1.30 %, ASX 200 fell 1.80 %\n\t\t<\/li>\n<li>\n\t\t\tCommodities: Gold at $1231.70 (-0.30 %), Silver at $15.42 (-0.30 %), WTI Oil at $38.05 (-0.70 %), Brent Oil at $40.00 (-0.80 %)\n\t\t<\/li>\n<li>\n\t\t\tRates: US 10 year yield at 1.80, UK 10 year yield at 1.43, German 10 year yield at 0.15\n\t\t<\/li>\n<\/ul>\n<\/div>\n<div>\n<h4>\n\t\t<strong>News &amp; Data:<\/strong><br \/>\n\t<\/h4>\n<ul>\n<li>\n\t\t\tChina Official Manufacturing PMI (Mar): 50.2 (exp 49.4 prev 49.0)\n\t\t<\/li>\n<li>\n\t\t\tChina Official Non-Manufacturing PMI (Mar): 53.8 (prev 52.7)\n\t\t<\/li>\n<li>\n\t\t\tChina Caixin Manufacturing PMI (Mar): 49.7 (exp 48.3 prev 48.0)\n\t\t<\/li>\n<li>\n\t\t\tJapan Nikkei Manufacturing PMI (Mar, F): 49.1 (flash 49.1)\n\t\t<\/li>\n<li>\n\t\t\tJapan Tankan Large Manufacturing Index: 6 (exp 8 prev 12)\n\t\t<\/li>\n<li>\n\t\t\tJapan Tankan Large Manufacturing Outlook: 3 (exp 7 prev 7)\n\t\t<\/li>\n<li>\n\t\t\tJapan Large Non-Manufacturing Index: 22 (exp 24 prev 25)\n\t\t<\/li>\n<li>\n\t\t\tJapan Large Non-Manufacturing Outlook: 17 (exp 20 prev 18)\n\t\t<\/li>\n<li>\n\t\t\tJapan Large All Industry Capex (YoY): -0.9% (exp -0.7% prev 10.8%)\n\t\t<\/li>\n<li>\n\t\t\tSouth Korea CPI (MoM) Mar: -0.3% (exp 0.0% prev 0.5%)\n\t\t<\/li>\n<li>\n\t\t\tSouth Korea CPI (YoY) Mar: 1.0% (exp 1.3% prev 1.3%)\n\t\t<\/li>\n<li>\n\t\t\tSouth Korea Trade Balance (Mar): USD 7385 Mln (exp USD 8496 Mln prev rev USD 7385 Mln)\n\t\t<\/li>\n<li>\n\t\t\tSouth Korea Exports (YoY) Mar: -8.2% (exp -10.9% prev -12.2%)\n\t\t<\/li>\n<li>\n\t\t\tSouth Korea Imports (YoY) Mar: -13.8% (exp -14.3% prev -14.6%)\n\t\t<\/li>\n<li>\n\t\t\tAustralia AiG PMI (Mar): 58.1 (prev 53.5)\n\t\t<\/li>\n<li>\n\t\t\tPBoC Fixes Yuan At 6.4585 (prev 6.4612)\n\t\t<\/li>\n<li>\n\t\t\tFed&#39;s Dudley: US Economy Is In A `Relatively Good Place&#39; &mdash; BBG\n\t\t<\/li>\n<li>\n\t\t\tDudley: Fears Of Runaway Inflation Have Proved Unwarranted\n\t\t<\/li>\n<li>\n\t\t\tDudley: Will Continue Gradual Rate Hikes If US Stays On Track, Risk Management Another Reason For Caution\n\t\t<\/li>\n<li>\n\t\t\tDudley: Fed Doesn&#39;t Want Higher Inflation Without Higher Wages\n\t\t<\/li>\n<\/ul>\n<h4>\n\t\t<strong>Markets Update:<\/strong><br \/>\n\t<\/h4>\n<p>\n\t\tThe US Dollar rose overnight, supported by hawkish comments from FOMC member William Dudley. EUR\/USD traded in a 1.1366-88 range, while GBP\/USD fell from 1.4370 to 1.4330. The Euro remains the best performing currency and the break above 1.1380 resistance suggests that a test of 1.15 could happen soon. Meanwhile, the British Pound continues to be under pressure amid worries about the Brexit vote.&nbsp;<br \/>\n\t\t&nbsp;\n\t<\/p>\n<\/div>\n<div>\n\tUSD\/JPY fell sharply overnight, as the Asian equity markets opened lower. The pair declined from 112.60 in the early session to a low of 112.05, where it found support and bounced to 112.30.&nbsp;\n<\/div>\n<div>\n\t&nbsp;\n<\/div>\n<div>\n\tThe commodity currencies all fell against the USD in the Asian session. AUD\/USD tumbled from 0.77 to 0.7650, while NZD\/USD declined from 0.6940 to 0.6895. USD\/CAD caught a bid after bouncing off the 1.2856 support level yesterday and rallied back above 1.30 overnight. Resistance is now seen at 1.3080, followed by 1.3130.\n<\/div>\n<div>\n<h4>\n\t\t<br \/>\n\t\t<strong>Upcoming Events:<\/strong><br \/>\n\t<\/h4>\n<ul style=\"list-style-type:disc;\">\n<li dir=\"ltr\">\n<p dir=\"ltr\">\n\t\t\t\t<span data-term=\"goog_1553903121\" tabindex=\"0\">08:15 BST<\/span>&nbsp;&#8211; Swiss Retail Sales\n\t\t\t<\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\">\n\t\t\t\t<span data-term=\"goog_1553903122\" tabindex=\"0\">08:45 BST<\/span>&nbsp;&#8211; Italian Manufacturing PMI\n\t\t\t<\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\">\n\t\t\t\t<span data-term=\"goog_1553903123\" tabindex=\"0\">08:50 BST<\/span>&nbsp;&#8211; French Manufacturing PMI\n\t\t\t<\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\">\n\t\t\t\t<span data-term=\"goog_1553903124\" tabindex=\"0\">08:55 BST<\/span>&nbsp;&#8211; German Manufacturing PMI\n\t\t\t<\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\">\n\t\t\t\t<span data-term=\"goog_1553903125\" tabindex=\"0\">09:00 BST<\/span>&nbsp;&#8211; Euro Zone Manufacturing PMI\n\t\t\t<\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\">\n\t\t\t\t<span data-term=\"goog_1553903126\" tabindex=\"0\">09:30 BST<\/span>&nbsp;&#8211; UK Manufacturing PMI\n\t\t\t<\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\">\n\t\t\t\t<span data-term=\"goog_1553903127\" tabindex=\"0\">10:00 BST<\/span>&nbsp;&#8211; Euro Zone Unemployment Rate\n\t\t\t<\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\">\n\t\t\t\t<span data-term=\"goog_1553903128\" tabindex=\"0\">13:30 BST<\/span>&nbsp;&#8211; US Nonfarm Payrolls\n\t\t\t<\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\">\n\t\t\t\t<span data-term=\"goog_1553903129\" tabindex=\"0\">13:30 BST<\/span>&nbsp;&#8211; US Unemployment Rate\n\t\t\t<\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\">\n\t\t\t\t<span data-term=\"goog_1553903130\" tabindex=\"0\">13:30 BST<\/span>&nbsp;&#8211; US Average Hourly Earnings\n\t\t\t<\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\">\n\t\t\t\t<span data-term=\"goog_1553903131\" tabindex=\"0\">14:45 BST<\/span>&nbsp;&#8211; US Manufacturing PMI\n\t\t\t<\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\">\n\t\t\t\t<span data-term=\"goog_1553903132\" tabindex=\"0\">15:00 BST<\/span>&nbsp;&#8211; US ISM Manufacturing PMI\n\t\t\t<\/p>\n<\/li>\n<li dir=\"ltr\">\n<p dir=\"ltr\">\n\t\t\t\t<span data-term=\"goog_1553903133\" tabindex=\"0\">15:00 BST<\/span>&nbsp;&#8211; US Michigan Consumer Confidence\n\t\t\t<\/p>\n<\/li>\n<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 2.90 %, Shanghai Composite lost 1.40 %, Hang Seng declined 1.30 %, ASX 200 fell 1.80 % Commodities: Gold at $1231.70 (-0.30 %), Silver at $15.42 (-0.30 %), WTI Oil at $38.05 (-0.70 %), Brent Oil at $40.00 (-0.80 %) Rates: US 10 year yield at 1.80, UK &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/friday-1st-april-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Friday 1st April: 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-16622","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\/16622","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=16622"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16622\/revisions"}],"predecessor-version":[{"id":16623,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16622\/revisions\/16623"}],"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=16622"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=16622"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=16622"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}