{"id":16985,"date":"2016-05-13T10:06:21","date_gmt":"2016-05-13T04:36:21","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=16985"},"modified":"2016-05-13T10:06:21","modified_gmt":"2016-05-13T04:36:21","slug":"friday-13th-may-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/friday-13th-may-european-open-briefing\/","title":{"rendered":"Friday 13th May: European Open Briefing"},"content":{"rendered":"<p>\n\t<strong>Global Markets:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\tAsian stock markets: Nikkei down 1.10 %, Shanghai Composite gained 0.05 %, Hang Seng declined 1.00 %, ASX 200 fell 0.90 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1271 (+0.05 %), Silver at $17.09 (-0.10 %), WTI Oil at $46.25 (-1.00 %), Brent Oil at $47.75 (-0.75 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.74, UK 10 year yield at 1.41, German 10 year yield at 0.15\n\t<\/li>\n<\/ul>\n<p>\n\t&nbsp;\n<\/p>\n<p>\n\t<strong>News &amp; Data:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\tNew Zealand Retail Sales Ex-Inflation (QoQ) Q1: 0.8% (exp 1.0% prev 1.2%)\n\t<\/li>\n<li>\n\t\tJapan Money Stock M2 (YoY): 3.3% (exp 3.2% prev 3.2%)\n\t<\/li>\n<li>\n\t\tJapan Money Stock M3 (YoY): 2.7% (exp 2.6% prev 2.6%)\n\t<\/li>\n<li>\n\t\tPBoC Fixes Yuan At 6.5246 (prev 6.4959)\n\t<\/li>\n<li>\n\t\tFed Chair Yellen Reiterates Gradual Approach To Interest Rate Increases &#8212; BBG\n\t<\/li>\n<li>\n\t\tYellen: Inflation Will Return To Fed 2% Goal Over Time\n\t<\/li>\n<li>\n\t\tYellen: Fed Will Adjust Policy If Outlook Changes Unexpectedly\n\t<\/li>\n<li>\n\t\tYellen: Wouldn&#39;t Rule Out Negative Rates In Very Adverse Case\n\t<\/li>\n<li>\n\t\tFed&#39;s George: Favours interest rate hike, rates are too low for current economic conditions &#8211; BBG\n\t<\/li>\n<li>\n\t\tGeorge: Employment strong, wages sluggish &#8211; BBG\n\t<\/li>\n<li>\n\t\tAsia shares slip, yen near two-week low on BOJ stimulus expectations &#8211; RTRS\n\t<\/li>\n<li>\n\t\tBOJ will act decisively using its &#39;ample&#39; tools: Kuroda &#8211; RTRS\n\t<\/li>\n<li>\n\t\tOil prices fall on stronger dollar; Russia warns of longer crude glut &#8211; RTRS\n\t<\/li>\n<li>\n\t\tDollar holds gains, U.S. data awaited for fresh incentives &#8211; RTRS\n\t<\/li>\n<\/ul>\n<p>\n\t&nbsp;\n<\/p>\n<p>\n\t<strong>Markets Update:<\/strong>\n<\/p>\n<p>\n\tUSD\/JPY declined overnight, along with the Nikkei, after it failed once again to break above 109.40 resistance yesterday. The pair started the trading day around 109.05 and fell to a low of 108.70 earlier. Bids are expected at 108.20 and around 107.80, while offers are reported at 109.40 and in front of the 110 level.\n<\/p>\n<p>\n\tEUR\/USD remains quiet and the pair traded in a 1.1365-80 range overnight. Support is seen at 1.1360 and 1.13, while resistance lies at 1.1445 and 1.1475. GBP\/USD volatility increased yesterday after the BoE meeting, but faded quickly. In Asia, the pair settled in a 1.4425-55 range.\n<\/p>\n<p>\n\tThe commodity currencies are weaker against the Dollar. AUD\/USD fell from 0.7325 to 0.7285, where it found support for now. NZD\/USD declined from 0.6830 to 0.6795 and USD\/CAD rallied to 1.2870, up roughly 100 pips from yesterday&#39;s low.<a name=\"_GoBack\"><\/a>\n<\/p>\n<p>\n\t&nbsp;\n<\/p>\n<p>\n\t<strong>Upcoming Events:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\t07:00 BST &#8211; German GDP\n\t<\/li>\n<li>\n\t\t07:00 BST &#8211; German CPI\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; Italian GDP\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Italian CPI\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone GDP\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US PPI\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Retail Sales\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US Michigan Consumer Sentiment\n\t<\/li>\n<li>\n\t\t20:30 BST &#8211; US CFTC Positioning Data\n\t<\/li>\n<\/ul>\n<p style=\"margin-left:18pt;\">\n\t&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 1.10 %, Shanghai Composite gained 0.05 %, Hang Seng declined 1.00 %, ASX 200 fell 0.90 % Commodities: Gold at $1271 (+0.05 %), Silver at $17.09 (-0.10 %), WTI Oil at $46.25 (-1.00 %), Brent Oil at $47.75 (-0.75 %) Rates: US 10 year yield at 1.74, UK &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/friday-13th-may-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Friday 13th 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-16985","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\/16985","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=16985"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16985\/revisions"}],"predecessor-version":[{"id":16986,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16985\/revisions\/16986"}],"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=16985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=16985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=16985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}