{"id":17783,"date":"2016-08-10T10:29:54","date_gmt":"2016-08-10T04:59:54","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=17783"},"modified":"2016-08-10T10:29:54","modified_gmt":"2016-08-10T04:59:54","slug":"wednesday-10th-august-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/wednesday-10th-august-european-open-briefing\/","title":{"rendered":"Wednesday 10th 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 0.40 %, ASX 200 lost 0.25 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1357 (+0.80 %), Silver at $20.22 (+1.85 %), WTI Oil at $42.75 (-0.10 %), Brent Oil at $45.00 (+0.05 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.54, UK 10 year yield at 0.58, 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 Westpac Consumer Confidence Index (Aug): 101.0 (prev 99.1)\n\t<\/li>\n<li>\n\t\tJapan PPI (MoM) Jul: 0.0% (exp -0.1% prev -0.1%)\n\t<\/li>\n<li>\n\t\tJapan PPI (YoY) Jul: -3.9% (exp -4.0% prev -4.2%)\n\t<\/li>\n<li>\n\t\tJapan Machine Orders (MoM) Jun: 8.3% (exp 3.2% prev -1.4%)\n\t<\/li>\n<li>\n\t\tJapan Machine Orders (YoY) Jun: -0.9% (exp -4.5% prev -11.7%)\n\t<\/li>\n<li>\n\t\tJapan Tertiary Industry Index (MoM) Jun: 0.8% (exp 0.3% prev -0.7%)\n\t<\/li>\n<li>\n\t\tJapan Housing Loans (YoY) Q2: 2.4% (prev 1.9%)\n\t<\/li>\n<li>\n\t\tSouth Korea Unemployment Rate SA (Jul): 3.6% (exp 3.6% prev 3.6%)\n\t<\/li>\n<li>\n\t\tPBoC Fixes Yuan Reference Rate at 6.6530 (prev 6.6594)\n\t<\/li>\n<li>\n\t\tRBA Gov Stevens: Current Inflation Target Regime Has Flexibility, Still Useful &#8212; RTRS\n\t<\/li>\n<li>\n\t\tStevens: Need Realism On What Monetary Policy Can Do, Including Pushing Up Inflation Quickly\n\t<\/li>\n<li>\n\t\tStevens: Board Aware of Risks of Trying to Push Inflation to Target in &quot;Short Order&quot;\n\t<\/li>\n<li>\n\t\tStevens: Undershooting Inflation Target with Reasonable Economic Growth Might Be &quot;Least Bad&quot; Option\n\t<\/li>\n<li>\n\t\tStevens: Chances OF Negative Rates in Australia Are Low\n\t<\/li>\n<li>\n\t\tStevens: Inflation&#39;s Going to Be Pretty Low for A While\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe US Dollar retraced some of its recent gains as the market switched back to a risk-on bias. EUR\/USD reached 1.1120 in the early Asian session and extended gains to 1.1155 overnight. GBP\/USD, which fell to 1.2960 yesterday after weak UK data, managed to recover to 1.3090. Meanwhile, USD\/JPY declined from 102.00 to a low of 101.15. While the pair usually benefits from a risk-on environment, the weakness highlights that there has been broad position covering from USD longs in the past 12 hours.\n<\/p>\n<p>\n\tAUD\/USD rallied to 0.7705 in the APAC session, a fresh 3-month high. NZD\/USD was also very well bid and reached a high of 0.7225, up 0.70 % on the day. Keep in mind that the RBNZ will decide on interest rates tonight and is expected to cut its OCR by 25bps.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t09:00 BST &#8211; Norwegian CPI\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US JOLTs Job Openings\n\t<\/li>\n<li>\n\t\t15:30 BST &#8211; US Crude Oil Inventories\n\t<\/li>\n<li>\n\t\t22:00 BST &#8211; RBNZ Rate Decision\n\t<\/li>\n<li>\n\t\t23:00 BST &#8211; RBNZ Governor Wheeler speaks\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 0.40 %, ASX 200 lost 0.25 % Commodities: Gold at $1357 (+0.80 %), Silver at $20.22 (+1.85 %), WTI Oil at $42.75 (-0.10 %), Brent Oil at $45.00 (+0.05 %) Rates: US 10 year yield at 1.54, UK &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/wednesday-10th-august-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 10th 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-17783","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\/17783","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=17783"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/17783\/revisions"}],"predecessor-version":[{"id":17784,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/17783\/revisions\/17784"}],"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=17783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=17783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=17783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}