{"id":17058,"date":"2016-05-23T09:53:18","date_gmt":"2016-05-23T04:23:18","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=17058"},"modified":"2016-05-23T09:53:18","modified_gmt":"2016-05-23T04:23:18","slug":"monday-23rd-may-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/monday-23rd-may-european-open-briefing\/","title":{"rendered":"Monday 23rd 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 down 1.10 %, Shanghai Composite gained 0.65 %, Hang Seng rose 0.35 %, ASX 200 declined 0.10 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1255 (+0.20 %), Silver at $16.54 (+0.05 %), WTI Oil at $48.18 (-0.50 %), Brent Oil at $48.60 (-0.30 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.84, UK 10 year yield at 1.46, German 10 year yield at 0.17\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tJapan Trade Balance (Apr): JPY 823.5Bln (exp JPY 540.0Bln prev rev JPY 754.2Bln from JPY 755.0Bln)\n\t<\/li>\n<li>\n\t\tJapan Adjusted Trade Balance (Apr): JPY 426.6Bln (exp JPY 274.1Bln prev rev 295.3Bln from JPY 276.5Bln)\n\t<\/li>\n<li>\n\t\tJapan Exports (YoY) Apr: -10.1% (exp -9.9% prev -6.8%)\n\t<\/li>\n<li>\n\t\tJapan Imports (YoY) Apr: -23.3% (exp -19.2% prev -14.9%)\n\t<\/li>\n<li>\n\t\tJapan Nikkei Manufacturing PMI (May, P): 47.6 (prev 48.2)\n\t<\/li>\n<li>\n\t\tPBoC Fixes Yuan At 6.5455 (prev 6.5510)\n\t<\/li>\n<li>\n\t\tFed&#39;s Williams: US Election Won&#39;t Stop Rate Hikes &#8212; Fox\n\t<\/li>\n<li>\n\t\tGerman FinMin Sch&auml;uble: G7 Finance Ministers More Optimistic About World Economy &#8212; RTRS\n\t<\/li>\n<li>\n\t\tG7 Warns Of Brexit &#39;Shock&#39; To Global Economy &#8212; Mail\n\t<\/li>\n<li>\n\t\tUK Treasury: Britain Would Face Year Long Recession If Brexit Occurred &#8212; RTRS\n\t<\/li>\n<li>\n\t\tIran Has No Plans To Freeze Oil Exports, Could Surpass Pre-Sanction Levels &#8212; RTRS\n\t<\/li>\n<li>\n\t\tBoJ Gov Kuroda: Have Enough Ammunition, Can Ease More As Needed &#8212; CNBC\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 23K vs 22K short prior week\n\t<\/li>\n<li>\n\t\tGBP&nbsp; short&nbsp; 38K vs. 35K short prior week\n\t<\/li>\n<li>\n\t\tJPY long 59K vs 59K long prior week\n\t<\/li>\n<li>\n\t\tCAD long 23K vs 26K long prior week\n\t<\/li>\n<li>\n\t\tCHF long 4K vs 7K long prior week\n\t<\/li>\n<li>\n\t\tAUD 25K long K vs. 38K long prior week\n\t<\/li>\n<li>\n\t\tNZD long 7K vs 9K long prior week\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe US Dollar weakened against most major currencies overnight. EUR\/USD opened around 1.1215 and rose to a high of 1.1235 in Asia, while GBP\/USD bounced off 1.4485 and made it to 1.4515 later in the session. USD\/JPY came under pressure despite a rally in Asian equity markets and fell from 110.25 at the open to a low of 109.65.\n<\/p>\n<p>\n\tThe commodity currencies were bid, with the New Zealand Dollar gaining the most overnight. NZD\/USD rallied from 0.6765 to 0.68, while AUD\/USD climbed from 0.7220 to 0.7250. With the 0.7250 resistance level now broken, the next key levels are 0.73 and 0.7365. In NZD\/USD, resistance is seen at 0.6845 and 0.6880.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t08:00 BST &#8211; French Manufacturing PMI\n\t<\/li>\n<li>\n\t\t08:00 BST &#8211; French Services PMI\n\t<\/li>\n<li>\n\t\t08:30 BST &#8211; German Manufacturing PMI\n\t<\/li>\n<li>\n\t\t08:30 BST &#8211; German Services PMI\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; Euro Zone Manufacturing PMI\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; Euro Zone Services PMI\n\t<\/li>\n<li>\n\t\t11:15 BST &ndash; FOMC Member Bullard speaks\n\t<\/li>\n<li>\n\t\t13:00 BST &ndash; FOMC Member Williams speaks\n\t<\/li>\n<li>\n\t\t14:45 BST &#8211; US Manufacturing PMI\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; Euro Zone Consumer Confidence\n\t<\/li>\n<li>\n\t\t23:45 BST &#8211; New Zealand Trade Balance\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>The Week Ahead:<\/strong><br \/>\n<\/h4>\n<p>\n\t<u>Tuesday, May 24th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t04:05 BST &#8211; RBA Governor Stevens speaks\n\t<\/li>\n<li>\n\t\t07:00 BST &#8211; Swiss Trade Balance\n\t<\/li>\n<li>\n\t\t07:00 BST &#8211; German GDP\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; German ZEW Economic Sentiment\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone ZEW Economic Sentiment\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US New Home Sales\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US Richmond Manufacturing Index\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 25th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t02:30 BST &#8211; Australian Construction Work Done\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; German IFO Business Climate Index\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; German IFO Business Expectations\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Trade Balance\n\t<\/li>\n<li>\n\t\t14:00 BST &#8211; US House Price Index\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; Bank of Canada Rate Decision\n\t<\/li>\n<li>\n\t\t15:30 BST &#8211; US Crude Oil Inventories\n\t<\/li>\n<li>\n\t\t16:40 BST &ndash; FOMC Member Kashkari speaks\n\t<\/li>\n<li>\n\t\t19:00 BST &ndash; FOMC Member Kaplan speaks\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Thursday, May 26th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:30 BST &#8211; Japan Tankan Index\n\t<\/li>\n<li>\n\t\t02:30 BST &#8211; Australian Capex\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK GDP\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Initial Jobless Claims\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Durable Goods Orders\n\t<\/li>\n<li>\n\t\t14:00 BST &#8211; RBA Assistant Governor Debelle speaks\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US Pending Home Sales\n\t<\/li>\n<li>\n\t\t19:00 BST &ndash; FOMC Member Powell speaks\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Friday, May 27th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:30 BST &#8211; Japan CPI\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US GDP\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US Michigan Consumer Sentiment\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 1.10 %, Shanghai Composite gained 0.65 %, Hang Seng rose 0.35 %, ASX 200 declined 0.10 % Commodities: Gold at $1255 (+0.20 %), Silver at $16.54 (+0.05 %), WTI Oil at $48.18 (-0.50 %), Brent Oil at $48.60 (-0.30 %) Rates: US 10 year yield at 1.84, UK &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/monday-23rd-may-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 23rd 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-17058","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\/17058","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=17058"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/17058\/revisions"}],"predecessor-version":[{"id":17059,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/17058\/revisions\/17059"}],"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=17058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=17058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=17058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}