{"id":17484,"date":"2016-07-05T10:16:48","date_gmt":"2016-07-05T04:46:48","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=17484"},"modified":"2016-07-05T10:16:48","modified_gmt":"2016-07-05T04:46:48","slug":"tuesday-5th-july-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/tuesday-5th-july-european-open-briefing\/","title":{"rendered":"Tuesday 5th July: 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 0.80 %, Shanghai Composite gained 0.40 %, Hang Seng declined 0.85 %, ASX 200 lost 0.90 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1346 (+0.55 %), Silver at $20.09 (+2.55 %), WTI Oil at $48.28 (-1.50 %), Brent Oil at $49.65 (-0.95 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.42, UK 10 year yield at 0.84, German 10 year yield at -0.14\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tChina Caixin Services PMI Jun: 52.7 (prev 51.2)\n\t<\/li>\n<li>\n\t\tChina Caixin Composite PMI Jun: 50.3 (prev 50.5)\n\t<\/li>\n<li>\n\t\tJapan Nikkei Services PMI Jun: 49.4 (prev 50.4)\n\t<\/li>\n<li>\n\t\tJapan Nikkei Composite PMI Jun: 49.0 (prev 49.2)\n\t<\/li>\n<li>\n\t\tSingapore Nikkei PMI Jun: 52.3 (prev 50.1)\n\t<\/li>\n<li>\n\t\tAustralian Retail Sales (MoM) May: 0.2% (est 0.3%, prev 0.2%)\n\t<\/li>\n<li>\n\t\tAustralian AiG Performance of Services Index Jun: 51.3 (Prev 51.5)\n\t<\/li>\n<li>\n\t\tAustralian ANZ Roy Morgan Consumer Confidence (Weekly) Jul 3: 115.8 (Prev 116.8)\n\t<\/li>\n<li>\n\t\tNew Zealand ANZ Commodity Prices Jun: 3.7% (prev 1.0%, rev 1.1%)\n\t<\/li>\n<li>\n\t\tNew Zealand QV House Prices (YoY) Jun: 13.5% (prev 12.4%)\n\t<\/li>\n<li>\n\t\tNew Zealand Business Confidence Index Q2: 19 (prev 2)\n\t<\/li>\n<li>\n\t\tPBOC Fixes Yuan Reference Rate at 6.6594 (prev close 6.6652)\n\t<\/li>\n<li>\n\t\tYouGov\/CEBR Poll: 49% of UK firms pessimistic on economic outlook (25% were pre-Brexit)\n\t<\/li>\n<li>\n\t\tNZ PM Key: RBNZ should create tighter rules for property investors &#8211; BBG via Interest\n\t<\/li>\n<li>\n\t\tAustralian PM Turnbull: Still confident of securing majority government &#8211; BBG\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe RBA decided to keep rates unchanged today, as expected by the market. There were no significant changes in the monetary policy statement, although the central bank noted that &ldquo;over the period ahead, further information should allow the Board to refine its assessment&rdquo;. AUD\/USD rallied slightly after the announcement, rising from 0.7515 to 0.7542.\n<\/p>\n<p>\n\tUSD\/JPY declined overnight, as losses in Asian stock markets weighed on the pair. It fell from 102.50 in the early session to a low of 102.00. Support is seen at 101.50 and 100.80, while resistance now lies at 102.80 and 103.00. EUR\/USD was quiet, trading in a 1.1125-55 range, while GBP\/USD consolidated between 1.3240 and 1.3290.\n<\/p>\n<p>\n\tSilver continues to retrace after its rally above 21 on Monday morning. The metal declined from 20.30 to a low of 19.50 and liquidity seems to be rather poor. Gold has not seen such a sharp increase in volatility and only fell from $1350 to $1338 overnight.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\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 Services PMI\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone Retail Sales\n\t<\/li>\n<li>\n\t\t10:30 BST &#8211; Bank of England Financial Stability Report\n\t<\/li>\n<li>\n\t\t10:30 BST &#8211; Bank of England Governor Carney speaks\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US Factory Orders\n\t<\/li>\n<li>\n\t\t19:30 BST &#8211; FOMC Member Dudley speaks\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.80 %, Shanghai Composite gained 0.40 %, Hang Seng declined 0.85 %, ASX 200 lost 0.90 % Commodities: Gold at $1346 (+0.55 %), Silver at $20.09 (+2.55 %), WTI Oil at $48.28 (-1.50 %), Brent Oil at $49.65 (-0.95 %) Rates: US 10 year yield at 1.42, UK &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/tuesday-5th-july-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 5th July: 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-17484","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\/17484","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=17484"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/17484\/revisions"}],"predecessor-version":[{"id":17485,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/17484\/revisions\/17485"}],"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=17484"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=17484"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=17484"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}