{"id":16879,"date":"2016-05-04T10:07:45","date_gmt":"2016-05-04T04:37:45","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=16879"},"modified":"2016-05-04T10:07:45","modified_gmt":"2016-05-04T04:37:45","slug":"wednesday-4th-may-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/wednesday-4th-may-european-open-briefing\/","title":{"rendered":"Wednesday 4th May: 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 down 0.20 %, Hang Seng declined 1.00 %, ASX lost 1.10 %, Nikkei closed for holiday\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1282 (-0.75 %), Silver at $17.31 (-1.95 %), WTI Oil at $43.65 (+0.05 %), Brent Oil at $44.80 (-0.20 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.80, UK 10 year yield at 0.20, German 10 year yield at 0.20\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tNew Zealand Unemployment Rate (Q1): 5.7% (exp 5.5% prev 5.3%)\n\t<\/li>\n<li>\n\t\tNew Zealand Employment Change (QoQ) Q1: 1.2% (exp 0.6% prev 0.9%)\n\t<\/li>\n<li>\n\t\tNew Zealand Employment Change (YoY) Q1: 2.0% (exp 1.3% prev 1.3%\n\t<\/li>\n<li>\n\t\tNew Zealand Participation Rate (Q1): 69.0% (exp 68.6% prev 68.4%)\n\t<\/li>\n<li>\n\t\tNew Zealand ANZ Commodity Price Index (MoM) Apr: -0.8% (prev -1.3%)\n\t<\/li>\n<li>\n\t\tNew Zealand QV House Prices (YoY) Apr: 12.0% (prev 11.4%)\n\t<\/li>\n<li>\n\t\tAustralia AiG PSI (Apr): 49.7 (prev 49.5)\n\t<\/li>\n<li>\n\t\tUK BRC Shop Price Index (YoY) Apr: -1.7 (exp -1.7% prev -1.7%)\n\t<\/li>\n<li>\n\t\tPBoC Fixes Yuan At 6.4943 (prev 6.4565)\n\t<\/li>\n<li>\n\t\tBoC Governor Poloz: Negative interest rates turned out not to work, low rates mean less impact from rate moves: BBG\n\t<\/li>\n<li>\n\t\tBoJ Governor Kuroda repeats that willing to take additional easing steps if needed\n\t<\/li>\n<li>\n\t\tFed&#39;s Williams says he agrees with decisions made this year by the Fed, supports gradual hikes\n\t<\/li>\n<li>\n\t\tFed&#39;s Williams: if we see continued progress on the economy, that is enough to hike in June; needs to see job and inflation progress\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe US Dollar reversed losses and strengthened significantly in the past 12 hours. USD\/JPY rallied to 107.40 overnight, up roughly 90 pips from yesterday&#39;s low. Resistance is seen at 107.85 and 108.70; support lies at 106.05 and 105.50.\n<\/p>\n<p>\n\tUSD\/CAD rose amid falling oil prices. The pair reached 1.2750 in Asia, up 300 pips in less than 24 hours. The other commodity currencies have been volatile as well, with AUD\/USD declining from 0.7720 pre-RBA to a low of 0.7480 at yesterday&#39;s NY close. It extended losses to 0.7466 overnight.\n<\/p>\n<p>\n\tEUR\/USD was rejected off 1.1620 resistance and fell back to 1.15 in the late NY session. In Asia, it came under renewed pressure at the Hong Kong open and declined to 1.1476. Support is seen in the 1.1430-40 area, followed by 1.1370. Resistance is noted at 1.1540 and 1.1565.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t07:45 BST &#8211; French Trade Balance\n\t<\/li>\n<li>\n\t\t08:45 BST &#8211; Italian Services PMI\n\t<\/li>\n<li>\n\t\t08:50 BST &#8211; French Services PMI\n\t<\/li>\n<li>\n\t\t08:55 BST &#8211; German Services PMI\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; Euro Zone Services PMI\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Construction PMI\n\t<\/li>\n<li>\n\t\t13:15 BST &#8211; US ADP Nonfarm Employment Change\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Trade Balance\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; Canadian Trade Balance\n\t<\/li>\n<li>\n\t\t14:45 BST &#8211; US Services PMI\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US Factory Orders\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US Non-Manufacturing PMI\n\t<\/li>\n<li>\n\t\t15:30 BST &#8211; US Crude Oil Inventories\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Shanghai Composite down 0.20 %, Hang Seng declined 1.00 %, ASX lost 1.10 %, Nikkei closed for holiday Commodities: Gold at $1282 (-0.75 %), Silver at $17.31 (-1.95 %), WTI Oil at $43.65 (+0.05 %), Brent Oil at $44.80 (-0.20 %) Rates: US 10 year yield at 1.80, UK 10 &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/wednesday-4th-may-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 4th 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-16879","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\/16879","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=16879"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16879\/revisions"}],"predecessor-version":[{"id":16880,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16879\/revisions\/16880"}],"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=16879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=16879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=16879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}