{"id":16855,"date":"2016-05-02T10:16:36","date_gmt":"2016-05-02T04:46:36","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=16855"},"modified":"2016-05-02T10:16:36","modified_gmt":"2016-05-02T04:46:36","slug":"monday-2nd-may-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/monday-2nd-may-european-open-briefing\/","title":{"rendered":"Monday 2nd May: European Open Briefing"},"content":{"rendered":"<div>\n<div>\n<div>\n<h4>\n\t\t\t\t<strong>Global Markets:<\/strong><br \/>\n\t\t\t<\/h4>\n<ul>\n<li>\n\t\t\t\t\tAsian stock markets: Nikkei down 3.60 %, ASX 200 lost 0.40 %, Chinese and HK markets closed for holiday\n\t\t\t\t<\/li>\n<li>\n\t\t\t\t\tCommodities: Gold at $1294.35 (+0.30 %), Silver at $17.80 (+0.06 %), Crude Oil at $45.53 (-0.85 %), Brent Oil at $46.85 (-1.10 %)\n\t\t\t\t<\/li>\n<li>\n\t\t\t\t\tRates: US 10 year yield at 1.82, UK 10 year yield at 1.61, German 10 year yield at 0.27\n\t\t\t\t<\/li>\n<\/ul><\/div>\n<h4>\n\t\t\t<strong>News &amp; Data:<\/strong><br \/>\n\t\t<\/h4>\n<ul>\n<li>\n\t\t\t\tChina Non-Manufacturing PMI (Apr): 53.5 (prev 53.8)\n\t\t\t<\/li>\n<li>\n\t\t\t\tChina Manufacturing PMI (Apr): 50.1 (exp 50.3 prev 50.2)\n\t\t\t<\/li>\n<li>\n\t\t\t\tJapan Nikkei Manufacturing PMI (Apr, F): 48.2 (flash 48.0)\n\t\t\t<\/li>\n<li>\n\t\t\t\tAustralia NAB Business Survey (Apr): -Conditions: 9 (prev 12) -Confidence: 5 (prev 6)\n\t\t\t<\/li>\n<li>\n\t\t\t\tAustralia Melbourne Institute Inflation (MoM) Apr: 0.1% (prev 0.0%)\n\t\t\t<\/li>\n<li>\n\t\t\t\tAustralia Melbourne Institute Inflation (YoY) Apr: 1.5% (prev 1.7%)\n\t\t\t<\/li>\n<li>\n\t\t\t\tAustralia AiG PMI (Apr): 53.4 (prev 58.1)\n\t\t\t<\/li>\n<li>\n\t\t\t\tSouth Korea Nikkei Manufacturing PMI (Apr): 50.0 (prev 49.5)\n\t\t\t<\/li>\n<\/ul><\/div>\n<h4>\n\t\t<strong>CFTC Positioning Data:<\/strong><br \/>\n\t<\/h4>\n<ul>\n<li>\n\t\t\tEUR short 40K vs. 47K short prior week\n\t\t<\/li>\n<li>\n\t\t\tGBP short 49K vs. 55K short prior week\n\t\t<\/li>\n<li>\n\t\t\tJPY long&nbsp;&nbsp;66K vs 72K long prior week\n\t\t<\/li>\n<li>\n\t\t\tCAD long 12K vs 7K long prior week\n\t\t<\/li>\n<li>\n\t\t\tCHF long 9K vs. 9K long prior week\n\t\t<\/li>\n<li>\n\t\t\tAUD long 59K vs 44K long prior week\n\t\t<\/li>\n<li>\n\t\t\tNZD long 7K vs 5K long prior week\n\t\t<\/li>\n<\/ul>\n<\/div>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<div>\n<div>\n\t\tThe US Dollar weakened against most major currencies overnight. EUR\/USD opened around 1.1455 in Asia and extended gains to 1.1480 later in the session. GBP\/USD started the new trading week at 1.4580 and rallied to a high of 1.4620 after the Tokyo open.<br \/>\n\t\tUSD\/JPY fell initially, along with the Nikkei, but found good support at 106.20 and bounced to 106.65 from there.<\/p>\n<p>\t\tAUD\/USD opened around 0.7595 and reached a high of 0.7620 later, while NZD\/USD rallied from 0.6975 to 0.7020, before it eventually ran out of momentum and fell back below 0.70.<br \/>\n\t\t&nbsp;\n\t<\/div>\n<div>\n\t\tAsian stock markets are lower this morning with the Nikkei again down more than 3 %. Chinese and Hong Kong markets are closed today for a public holiday.\n\t<\/div>\n<div>\n<h4>\n\t\t\t<br \/>\n\t\t\t<strong>Upcoming Events:<\/strong><br \/>\n\t\t<\/h4>\n<ul>\n<li>\n\t\t\t\t08:15 BST&nbsp;&#8211; Swiss Retail Sales\n\t\t\t<\/li>\n<li>\n\t\t\t\t08:45 BST&nbsp;&#8211; Italian Manufacturing PMI\n\t\t\t<\/li>\n<li>\n\t\t\t\t08:50 BST&nbsp;&#8211; French Manufacturing PMI\n\t\t\t<\/li>\n<li>\n\t\t\t\t08:55 BST&nbsp;&#8211; German Manufacturing PMI\n\t\t\t<\/li>\n<li>\n\t\t\t\t09:00 BST&nbsp;&#8211; Euro Zone Manufacturing PMI\n\t\t\t<\/li>\n<li>\n\t\t\t\t10:30 BST&nbsp;&#8211; Bundesbank President Weidmann speaks\n\t\t\t<\/li>\n<li>\n\t\t\t\t14:45 BST&nbsp;&#8211; US Manufacturing PMI\n\t\t\t<\/li>\n<li>\n\t\t\t\t15:00 BST&nbsp;&#8211; US ISM Manufacturing PMI\n\t\t\t<\/li>\n<li>\n\t\t\t\t15:00 BST&nbsp;&#8211; ECB President Draghi speaks\n\t\t\t<\/li>\n<li>\n\t\t\t\t17:30 BST&nbsp;&#8211; SNB Chairman Jordan speaks\n\t\t\t<\/li>\n<\/ul>\n<h4>\n\t\t\t<strong>The Week Ahead:<\/strong><\/p>\n<p>\t\t\t<strong>Tuesday, May 3rd<\/strong><br \/>\n\t\t<\/h4>\n<ul>\n<li>\n\t\t\t\t02:30 BST&nbsp;&#8211; Australian Building Approvals\n\t\t\t<\/li>\n<li>\n\t\t\t\t02:45 BST&nbsp;&#8211; Chinese Caixin Manufacturing PMI\n\t\t\t<\/li>\n<li>\n\t\t\t\t05:30 BST&nbsp;&#8211; RBA Interest Rate Decision\n\t\t\t<\/li>\n<li>\n\t\t\t\t05:30 BST&nbsp;&#8211; RBA Statement\n\t\t\t<\/li>\n<li>\n\t\t\t\t09:30 BST&nbsp;&#8211; UK Manufacturing PMI\n\t\t\t<\/li>\n<li>\n\t\t\t\t10:00 BST&nbsp;&#8211; Euro Zone PPI\n\t\t\t<\/li>\n<li>\n\t\t\t\t17:30 BST&nbsp;&#8211; Bank of Canada Governor Poloz speaks\n\t\t\t<\/li>\n<li>\n\t\t\t\t21:35 BST&nbsp;&#8211; US API Weekly Crude Oil Stock\n\t\t\t<\/li>\n<li>\n\t\t\t\t23:45 BST&nbsp;&#8211; New Zealand Employment Change\n\t\t\t<\/li>\n<li>\n\t\t\t\t23:45 BST&nbsp;&#8211; New Zealand Unemployment Rate\n\t\t\t<\/li>\n<\/ul>\n<p>\t\t<strong>Wednesday, May 4th<\/strong><\/p>\n<ul>\n<li>\n\t\t\t\t07:45 BST&nbsp;&#8211; French Trade Balance\n\t\t\t<\/li>\n<li>\n\t\t\t\t08:45 BST&nbsp;&#8211; Italian Services PMI\n\t\t\t<\/li>\n<li>\n\t\t\t\t08:50 BST&nbsp;&#8211; French Services PMI\n\t\t\t<\/li>\n<li>\n\t\t\t\t08:55 BST&nbsp;&#8211; German Services PMI\n\t\t\t<\/li>\n<li>\n\t\t\t\t09:00 BST&nbsp;&#8211; Euro Zone Services PMI\n\t\t\t<\/li>\n<li>\n\t\t\t\t09:30 BST&nbsp;&#8211; UK Construction PMI\n\t\t\t<\/li>\n<li>\n\t\t\t\t13:15 BST&nbsp;&#8211; US ADP Nonfarm Employment Change\n\t\t\t<\/li>\n<li>\n\t\t\t\t13:30 BST&nbsp;&#8211; US Trade Balance\n\t\t\t<\/li>\n<li>\n\t\t\t\t13:30 BST&nbsp;&#8211; Canadian Trade Balance\n\t\t\t<\/li>\n<li>\n\t\t\t\t14:45 BST&nbsp;&#8211; US Services PMI\n\t\t\t<\/li>\n<li>\n\t\t\t\t15:00 BST&nbsp;&#8211; US Factory Orders\n\t\t\t<\/li>\n<li>\n\t\t\t\t15:00 BST&nbsp;&#8211; US Non-Manufacturing PMI\n\t\t\t<\/li>\n<li>\n\t\t\t\t15:30 BST&nbsp;&#8211; US Crude Oil Inventories\n\t\t\t<\/li>\n<\/ul>\n<p>\t\t<strong>Thursday, May 5th<\/strong><\/p>\n<ul>\n<li>\n\t\t\t\t02:30 BST&nbsp;&#8211; Australian Retail Sales\n\t\t\t<\/li>\n<li>\n\t\t\t\t02:30 BST&nbsp;&#8211; Australian Trade Balance\n\t\t\t<\/li>\n<li>\n\t\t\t\t02:45 BST&nbsp;&#8211; Chinese Caixin Services PMI\n\t\t\t<\/li>\n<li>\n\t\t\t\t09:30 BST&nbsp;&#8211; UK Services PMI\n\t\t\t<\/li>\n<li>\n\t\t\t\t13:30 BST&nbsp;&#8211; Swiss Initial Jobless Claims\n\t\t\t<\/li>\n<li>\n\t\t\t\t13:30 BST&nbsp;&#8211; Canadian Building Permits\n\t\t\t<\/li>\n<\/ul>\n<p>\t\t<strong>Friday, May 6th<\/strong><\/p>\n<ul>\n<li>\n\t\t\t\t01:30 BST&nbsp;&#8211; RBA Monetary Policy Statement\n\t\t\t<\/li>\n<li>\n\t\t\t\t13:30 BST&nbsp;&#8211; US NFP\n\t\t\t<\/li>\n<li>\n\t\t\t\t13:30 BST&nbsp;&#8211; US Unemployment Rate\n\t\t\t<\/li>\n<li>\n\t\t\t\t13:30 BST&nbsp;&#8211; US Average Hourly Earnings\n\t\t\t<\/li>\n<li>\n\t\t\t\t13:30 BST&nbsp;&#8211; Canadian Unemployment Rate\n\t\t\t<\/li>\n<li>\n\t\t\t\t13:30 BST&nbsp;&#8211; Canadian Employment Change\n\t\t\t<\/li>\n<li>\n\t\t\t\t15:00 BST&nbsp;&#8211; Canadian Ivey PMI\n\t\t\t<\/li>\n<\/ul><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 3.60 %, ASX 200 lost 0.40 %, Chinese and HK markets closed for holiday Commodities: Gold at $1294.35 (+0.30 %), Silver at $17.80 (+0.06 %), Crude Oil at $45.53 (-0.85 %), Brent Oil at $46.85 (-1.10 %) Rates: US 10 year yield at 1.82, UK 10 year yield &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/monday-2nd-may-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 2nd May: 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-16855","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\/16855","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=16855"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16855\/revisions"}],"predecessor-version":[{"id":16856,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16855\/revisions\/16856"}],"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=16855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=16855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=16855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}