{"id":17721,"date":"2016-08-02T10:34:29","date_gmt":"2016-08-02T05:04:29","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=17721"},"modified":"2016-08-02T10:34:29","modified_gmt":"2016-08-02T05:04:29","slug":"tuesday-2nd-august-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/tuesday-2nd-august-european-open-briefing\/","title":{"rendered":"Tuesday 2nd August: 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 0.85 %, Shanghai Composite gained 0.05 %, ASX 200 lost 0.25 %, Hang Seng closed\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1356 (-0.25 %), Silver at $20.45 (-0.25 %), WTI Oil at $40.20 (+0.30 %), Brent Oil at $42.35 (+0.50 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.52, UK 10 year yield at 0.73, German 10 year yield at -0.09\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tRBA Cuts Its Cash Rate by 25bps to 1.50% As Expected\n\t<\/li>\n<li>\n\t\tAustralia ANZ Roy Morgan Weekly Consumer Confidence Index (W\/E 31 Jul): 118.0 (prev 115.5)\n\t<\/li>\n<li>\n\t\tAustralia Trade Balance (Jun): AUD -3195 Mln (exp AUD -2000 Mln prev rev AUD -2418 Mln)\n\t<\/li>\n<li>\n\t\tAustralia Exports (MoM) Jun: -1.0% (prev 1.0%)\n\t<\/li>\n<li>\n\t\tAustralia Imports (MoM) Jun: 2.0% (prev 2.0%)\n\t<\/li>\n<li>\n\t\tAustralia Building Approvals (MoM) Jun: -2.9% (exp 0.5% prev -5.2%)\n\t<\/li>\n<li>\n\t\tAustralia Building Approvals (YoY) Jun: -5.98% (exp -2.4% prev -9.1%)\n\t<\/li>\n<li>\n\t\tJapan Monetary Base (Jul): JPY 403.9 Tln (prev JPY 403.9 Tln)\n\t<\/li>\n<li>\n\t\tNew Zealand QV House Prices (YoY) Jul: 14.1 (prev 13.5%)\n\t<\/li>\n<li>\n\t\tNew Zealand 2 Year Inflation Expectations (Q3): 1.65% (prev 1.64%)\n\t<\/li>\n<li>\n\t\tJapan&#39;s GDP rose 1% in June, according to a JCER report being cited by Nikkei\n\t<\/li>\n<li>\n\t\tPBoC Fixes Yuan Reference Rate at 6.6451 (prev 6.6277)\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe Reserve Bank of Australia has decided to cut its cash rate from 1.75 % to 1.50 %, as expected by the market. The central bank noted that inflation remains quite low and that a cooldown of the housing market has allowed it to lower interest rates without exacerbating risks. AUD\/USD declined from 0.7540 to 0.7480 following the announcement, but is now back around 0.7510. Losses could be limited as the market was already expecting a rate cut and the statement was not overly dovish.\n<\/p>\n<p>\n\tEUR\/USD traded in a tight range yesterday, and overnight, there was not much volatility either. The pair consolidated between 1.1155 and 1.1175, with major resistance now at 1.12. GBP\/USD is consolidating around 1.32 after it failed at 1.3270 resistance yesterday. Support is seen at 1.3165, while key resistance is noted between 1.3270 and 1.3290.\n<\/p>\n<p>\n\tUSD\/JPY rallied in the early Tokyo session, along with Nikkei, but failed to sustain momentum as it ran into decent offers at 102.80. The pair eventually fell back to 102.50. The Bank of Japan disappointed JPY bears on Friday and the focus is now on Japanese government stimulus package, which details will be revealed this week.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t08:15 BST &#8211; Swiss Retail Sales\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Construction PMI\n\t<\/li>\n<li>\n\t\t11:15 BST &#8211; FOMC Member Kaplan speaks\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Core PCE Price Index\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Personal Spending\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Personal Income\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.85 %, Shanghai Composite gained 0.05 %, ASX 200 lost 0.25 %, Hang Seng closed Commodities: Gold at $1356 (-0.25 %), Silver at $20.45 (-0.25 %), WTI Oil at $40.20 (+0.30 %), Brent Oil at $42.35 (+0.50 %) Rates: US 10 year yield at 1.52, UK 10 year &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/tuesday-2nd-august-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 2nd August: 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-17721","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\/17721","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=17721"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/17721\/revisions"}],"predecessor-version":[{"id":17722,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/17721\/revisions\/17722"}],"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=17721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=17721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=17721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}