{"id":16995,"date":"2016-05-16T09:56:35","date_gmt":"2016-05-16T04:26:35","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=16995"},"modified":"2016-05-16T09:57:04","modified_gmt":"2016-05-16T04:27:04","slug":"monday-16th-may-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/monday-16th-may-european-open-briefing\/","title":{"rendered":"Monday 16th 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: Nikkei up 1.20 %, Shanghai Composite gained 0.20 %, Hang Seng rose 1.25 %, ASX 200 rallied 0.60 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1278 (+0.40 %), Silver at $17.30 (+1.00 %), WTI Oil at $46.85 (+1.35 %), Brent Oil at $48.48 (+1.35 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.71, UK 10 year yield at 1.38, German 10 year yield at 0.12\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tChina Retail Sales (YoY) Apr: 6.0% (exp 6.5% prev 6.8%)\n\t<\/li>\n<li>\n\t\tChina Industrial Production (YoY) Apr: 5.8% (exp 6.1% prev 5.8%)\n\t<\/li>\n<li>\n\t\tChina FAI (YoY) Apr: 10.5% (exp 11.0% prev 10.7%)\n\t<\/li>\n<li>\n\t\tJapan PPI (MoM) Apr: -0.3% (exp 0.2% prev -0.1%)\n\t<\/li>\n<li>\n\t\tJapan PPI (YoY) Apr: -4.2% (exp -3.7% prev -3.8%)\n\t<\/li>\n<li>\n\t\tPBoC Fixes Yuan At 6.5343(prev 6.5246)\n\t<\/li>\n<li>\n\t\tJapanese PM Abe: Correction Of Overly Strong Yen Resulted From Abenomics\n\t<\/li>\n<li>\n\t\tAbe: If QQE Was Not Launched Would Still Be In Deflation\n\t<\/li>\n<li>\n\t\tNew Zealand PM Key: Economy Performing Well &#8212; BBG\n\t<\/li>\n<li>\n\t\tKey: Lowering Income Tax Remains Priority For Government\n\t<\/li>\n<li>\n\t\tKey: Government Putting Debt Reduction Above Tax Cuts For Now\n\t<\/li>\n<li>\n\t\tJapan leads Asia to modest gains; dollar steady &#8211; RTRS\n\t<\/li>\n<li>\n\t\tFiscal constraints mean BOJ likely to keep helicopter grounded &#8211; RTRS\n\t<\/li>\n<li>\n\t\tOil prices rise on Nigeria, Venezuela disruptions &ndash; 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 22K vs. 23K short prior week\n\t<\/li>\n<li>\n\t\tGBP short 35K vs. 40K short prior week\n\t<\/li>\n<li>\n\t\tJPY long 59K vs. 61K long prior week\n\t<\/li>\n<li>\n\t\tCAD long 26K vs. 19K long prior week\n\t<\/li>\n<li>\n\t\tCHF long 7K vs. 7K long prior week\n\t<\/li>\n<li>\n\t\tAUD long 38K vs. 52K long prior week\n\t<\/li>\n<li>\n\t\tNZD long 9K vs. 9K long prior week\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tEUR\/USD opened around 1.1310 on Sunday and spent the rest of the session in a 1.1300-20 range. Support is seen at 1.1282, while resistance lies at 1.1350\/60. GBP\/USD started the day at 1.4350, little changed from Friday&#39;s close. The pair consolidated between 1.4345 and 1.4370 in Asia. USD\/JPY was supported by the rally in the Nikkei and rose from 108.50 to almost 109.00.\n<\/p>\n<p>\n\tThe commodity currencies were also bid. The Australian Dollar rose from 0.7245 to 0.7290 against the US Dollar. NZD\/USD rallied from 0.6745 to 0.6775, while USD\/CAD declined from 1.2960 to 1.2925.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t13:30 BST &#8211; US NY Empire State Manufacturing Index\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US NAHB Housing Market Index\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>The Week Ahead:<\/strong><br \/>\n<\/h4>\n<p>\n\t<u>Tuesday, May 17th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t<strong>02:30 BST &#8211; RBA Meeting Minutes<\/strong>\n\t<\/li>\n<li>\n\t\t04:00 BST &#8211; New Zealand Inflation Expectations\n\t<\/li>\n<li>\n\t\t05:30 BST &#8211; Japan Industrial Production\n\t<\/li>\n<li>\n\t\t08:15 BST &#8211; Swiss PPI\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; Italian Trade Balance\n\t<\/li>\n<li>\n\t\t<strong>09:30 BST &#8211; UK CPI<\/strong>\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone Trade Balance\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Building Permits\n\t<\/li>\n<li>\n\t\t<strong>13:30 BST &#8211; US CPI<\/strong>\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Housing Starts\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; Canadian Manufacturing Sales\n\t<\/li>\n<li>\n\t\t14:15 BST &#8211; US Manufacturing Production\n\t<\/li>\n<li>\n\t\t14:15 BST &#8211; US Industrial Production\n\t<\/li>\n<li>\n\t\t17:00 BST &#8211; FOMC Member Williams speaks\n\t<\/li>\n<li>\n\t\t17:00 BST &#8211; FOMC Member Lockhart speaks\n\t<\/li>\n<li>\n\t\t21:35 BST &#8211; US API Weekly Crude Oil Stock\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Wednesday, May 18th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t<strong>00:50 BST &#8211; Japanese GDP<\/strong>\n\t<\/li>\n<li>\n\t\t<strong>01:00 BST &#8211; RBNZ Governor Wheeler speaks<\/strong>\n\t<\/li>\n<li>\n\t\t01:30 BST &#8211; Australian MI Leading Index\n\t<\/li>\n<li>\n\t\t02:00 BST &#8211; RBA Assistant Governor Debelle speaks\n\t<\/li>\n<li>\n\t\t02:30 BST &#8211; Australian Wage Price Index\n\t<\/li>\n<li>\n\t\t<strong>09:30 BST &#8211; UK Claimant Count Change<\/strong>\n\t<\/li>\n<li>\n\t\t<strong>09:30 BST &#8211; UK Average Earnings<\/strong>\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Unemployment Rate\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone CPI\n\t<\/li>\n<li>\n\t\t15:30 BST &#8211; US Crude Oil Inventories\n\t<\/li>\n<li>\n\t\t<strong>19:00 BST &#8211; FOMC Meeting Minutes<\/strong>\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Thursday, May 19th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t<strong>02:30 BST &#8211; Australian Employment Change<\/strong>\n\t<\/li>\n<li>\n\t\t<strong>02:30 BST &#8211; Australian Unemployment Rate<\/strong>\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; Euro Zone Current Account\n\t<\/li>\n<li>\n\t\t<strong>09:30 BST &#8211; UK Retail Sales<\/strong>\n\t<\/li>\n<li>\n\t\t12:30 BST &#8211; ECB Meeting Minutes\n\t<\/li>\n<li>\n\t\t<strong>13:30 BST &#8211; US Initial Jobless Claims<\/strong>\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Phily Fed Manufacturing Index\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; Canadian Wholesale Sales\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US CB Leading Index\n\t<\/li>\n<li>\n\t\t15:30 BST &#8211; FOMC Member Dudley speaks\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Friday, May 20th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t07:00 BST &#8211; German PPI\n\t<\/li>\n<li>\n\t\t<strong>13:30 BST &#8211; Canadian CPI<\/strong>\n\t<\/li>\n<li>\n\t\t<strong>13:30 BST &#8211; Canadian Retail Sales<\/strong>\n\t<\/li>\n<li>\n\t\t14:00 BST &#8211; FOMC Member Tarullo speaks\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US Existing Home Sales\n\t<\/li>\n<li>\n\t\t20:30 BST &#8211; CFTC Positioning Data\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 1.20 %, Shanghai Composite gained 0.20 %, Hang Seng rose 1.25 %, ASX 200 rallied 0.60 % Commodities: Gold at $1278 (+0.40 %), Silver at $17.30 (+1.00 %), WTI Oil at $46.85 (+1.35 %), Brent Oil at $48.48 (+1.35 %) Rates: US 10 year yield at 1.71, UK &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/monday-16th-may-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 16th 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-16995","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\/16995","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=16995"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16995\/revisions"}],"predecessor-version":[{"id":16996,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/16995\/revisions\/16996"}],"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=16995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=16995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=16995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}