{"id":17746,"date":"2016-08-05T10:33:19","date_gmt":"2016-08-05T05:03:19","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=17746"},"modified":"2016-08-05T10:33:19","modified_gmt":"2016-08-05T05:03:19","slug":"friday-5th-august-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/friday-5th-august-european-open-briefing\/","title":{"rendered":"Friday 5th 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 gained 0.20 %, Shanghai Composite fell 0.10 %, Hang Seng rose 1.50 %, ASX 200 up 0.35 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1368 (+0.10 %), Silver at $20.39 (-0.25 %), WTI Oil at $41.60 (-0.75 %), Brent Oil at $43.90 (-0.85 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.50, UK 10 year yield at 0.64, German 10 year yield at -0.09\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAustralia AiG PCI (Jul): 51.6 (prev 53.2)\n\t<\/li>\n<li>\n\t\tJapan Labour Cash Earnings (YoY) Jun: 1.3% (exp 0.3% prev rev -0.1%)\n\t<\/li>\n<li>\n\t\tJapan Real Cash Earnings (YoY) Jun: 1.8% (prev rev 0.4%)\n\t<\/li>\n<li>\n\t\tJapanese Economic Minister Ishihara: Closely Watching FX Moves\n\t<\/li>\n<li>\n\t\tJapanese Finance Minister Aso: To Work Closely with BoJ to Use All Policy Tools to Support Growth &#8212; RTRS\n\t<\/li>\n<li>\n\t\tRBA SoMP: Repeats Policy Easing to Help Foster Growth, Offers No Forward Guidance\n\t<\/li>\n<li>\n\t\tRBA SoMP: Underlying Inflation to Remain Under 2% For Much of Forecast Period, Reach 2 % By End 2018\n\t<\/li>\n<li>\n\t\tRBA SoMP: Prospects for Economy Positive, But Low Inflation Allows for &quot;Even Stronger Growth&quot;\n\t<\/li>\n<li>\n\t\tRBA SoMP: Judged Risks Associated with Rising House Prices and Debt Had Diminished\n\t<\/li>\n<li>\n\t\tRBA SoMP: A$ Remains Significant Source of Uncertainty for Inflation, Growth Forecasts\n\t<\/li>\n<li>\n\t\tRBA SoMP: Economic Growth and Inflation Forecasts Little Changed Overall\n\t<\/li>\n<li>\n\t\tRBA SoMP: Drag On GDP from Falling Mining Investment Looks to Have Peaked, Non-Mining Still Subdued\n\t<\/li>\n<li>\n\t\tRBA SoMP: GDP Growth Looks to Have Moderated in Q2 as Net Exports Added Less\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe main event overnight was the release of the RBA meeting minutes, although there were no surprises. The RBA warned that the high Australian Dollar remains a significant source of uncertainty for inflation and growth forecasts. Despite the RBA rate cut last week, the Australian Dollar has risen against most currencies and AUD\/USD posted a fresh weekly high overnight as it rose to 0.7662. The market sent a clear signal that the RBA will have to do more if it wants to weaken its currency.\n<\/p>\n<p>\n\tFlows in the other major currency pairs were rather light. USD\/JPY failed at 101.40 resistance in the early Asian session and declined to 101.05. EUR\/USD was caught in a 1.1125-36 range, while GBP\/USD consolidated between 1.31 and 1.3135. NZD\/USD followed the AUD higher and rose from 0.7170 to 0.72.\n<\/p>\n<p>\n\tMarkets may stay quiet in the upcoming EU session as traders are waiting for the release of the latest US employment data at 1330 BST.\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\t07:45 BST &#8211; French Trade Balance\n\t<\/li>\n<li>\n\t\t08:30 BST &#8211; UK Halifax House Price Index\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US NFP\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Unemployment Rate\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Average Hourly Earnings\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 Employment Change\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; Canadian Unemployment Rate\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; Canadian Trade Balance\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; Canadian Ivey PMI\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei gained 0.20 %, Shanghai Composite fell 0.10 %, Hang Seng rose 1.50 %, ASX 200 up 0.35 % Commodities: Gold at $1368 (+0.10 %), Silver at $20.39 (-0.25 %), WTI Oil at $41.60 (-0.75 %), Brent Oil at $43.90 (-0.85 %) Rates: US 10 year yield at 1.50, UK &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/friday-5th-august-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Friday 5th 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-17746","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\/17746","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=17746"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/17746\/revisions"}],"predecessor-version":[{"id":17747,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/17746\/revisions\/17747"}],"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=17746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=17746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=17746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}