{"id":17496,"date":"2016-07-06T10:05:57","date_gmt":"2016-07-06T04:35:57","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=17496"},"modified":"2016-07-06T10:05:57","modified_gmt":"2016-07-06T04:35:57","slug":"wednesday-6th-july-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/wednesday-6th-july-european-open-briefing\/","title":{"rendered":"Wednesday 6th 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 2.70 %, Shanghai Composite fell 0.20 %, Hang Seng lost 2.10 %, ASX 200 declined 1.30 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1368 (+0.75 %), Silver at $20.34 (+2.20 %), WTI Oil at $46.35 (-0.55 %), Brent Oil at $47.75 (-0.45 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.36, UK 10 year yield at 0.77, German 10 year yield at -0.18\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tHong Kong Nikkei PMI Jun: 45.4 (prev 47.2)\n\t<\/li>\n<li>\n\t\tPBOC Fixes Yuan Reference Rate at 6.6857 (prev 6.6594)\n\t<\/li>\n<li>\n\t\tGlobal stocks slide, bonds surge as Brexit fears resurface &#8211; RTRS\n\t<\/li>\n<li>\n\t\tOil prices fall amid Brexit concerns, supply risks &#8211; RTRS\n\t<\/li>\n<li>\n\t\tFed&#39;s Williams says Brexit effect as expected, no big deal &#8211; RTRS\n\t<\/li>\n<li>\n\t\tBritish pound sinks to new depths on Brexit anxiety, yen rises &#8211; RTRS\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThere were no notable data releases or events overnight, but still plenty of volatility as Brexit fears led to risk aversion in markets. GBP\/USD declined to a fresh 20-year low, trading below 1.28 at one point. It bounced from there and rose back towards 1.29, but the outlook remains bearish. Resistance now lies at 1.2950 and 1.3050. EUR\/GBP broke above 0.8540 resistance in Asia and reached a high of 0.8620, while GBP\/JPY fell almost 400 pips, trading as low as 128.50 after the Tokyo open.\n<\/p>\n<p>\n\tEUR\/USD was rather quiet, only declining from 1.1075 to 1.1035. USD\/JPY came under renewed pressure from the risk-off sentiment in markets and declined from 101.70 to 100.60. Major support is seen at 110.50 and a break below would signal a move back to 99.\n<\/p>\n<p>\n\tThe Australian and New Zealand Dollar are doing relatively well, considering the current market sentiment. AUD\/USD is still holding above 0.74, while NZD\/USD declined only from 0.7160 to 0.7080.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t07:00 BST &#8211; German Factory Orders\n\t<\/li>\n<li>\n\t\t08:00 BST &#8211; ECB President Draghi speaks\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 ISM Non-Manufacturing PMI\n\t<\/li>\n<li>\n\t\t19:00 BST &#8211; FOMC Meeting Minutes\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 2.70 %, Shanghai Composite fell 0.20 %, Hang Seng lost 2.10 %, ASX 200 declined 1.30 % Commodities: Gold at $1368 (+0.75 %), Silver at $20.34 (+2.20 %), WTI Oil at $46.35 (-0.55 %), Brent Oil at $47.75 (-0.45 %) Rates: US 10 year yield at 1.36, UK &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/wednesday-6th-july-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 6th 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-17496","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\/17496","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=17496"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/17496\/revisions"}],"predecessor-version":[{"id":17497,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/17496\/revisions\/17497"}],"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=17496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=17496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=17496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}