{"id":18121,"date":"2016-09-07T10:41:51","date_gmt":"2016-09-07T05:11:51","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=18121"},"modified":"2016-09-07T10:41:51","modified_gmt":"2016-09-07T05:11:51","slug":"wednesday-7th-september-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/wednesday-7th-september-european-open-briefing\/","title":{"rendered":"Wednesday 7th September: 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 0.65 %, Shanghai Composite gained 0.35 %, Hang Seng fell 0.30 %, ASX 200 lost 0.05 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1356 (+0.20 %), Silver at $20.10 (-0.20 %), WTI Oil at $45.00 (+0.40 %), Brent Oil at $47.50 (+0.55 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.54, UK 10 year yield at 0.66, German 10 year yield at -0.11\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAustralia GDP (QoQ, Q2): 0.50% (est 0.60%, prev 1.10%)\n\t<\/li>\n<li>\n\t\tAustralia GDP (YoY, Q2): 3.30% (est 3.40%, prev 3.10%)\n\t<\/li>\n<li>\n\t\tAustralia Performance of Construction (Aug): 46.6 (prev 51.6)\n\t<\/li>\n<li>\n\t\tNew Zealand Manufacturing Activity Volume (QoQ, Q2): 2.80% (prev -1.20%)\n\t<\/li>\n<li>\n\t\tNew Zealand Manufacturing Activity SA (QoQ, Q2): 2.20% (prev -2.60%)\n\t<\/li>\n<li>\n\t\tFed&#39;s Williams: Makes sense to raise rates sooner rather than later\n\t<\/li>\n<li>\n\t\tAsia stocks hit one-year high as soft U.S. data quells Fed hike talk &#8211; RTRS\n\t<\/li>\n<li>\n\t\tFed&#39;s Williams says U.S. economy in good shape, wants rate hike &#8211; RTRS\n\t<\/li>\n<li>\n\t\tOil edges lower amid scepticism about output freeze &#8211; RTRS\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe US Dollar fell across the board after much weaker than expected US services PMI numbers. The ISM non-manufacturing PMI arrived at 51.4 vs 55.0 expected. All components showed a decline: Business activity fell from 59.3 to 51.8, employment from 51.4 to 50.7 and new orders from 60.3 to 51.4.\n<\/p>\n<p>\n\tThe British Pound benefited the most from this, and GBP\/USD rallied from 1.3340 to a high of 1.3440 so far. In Asia, the pair retraced some of its recent gains, to 1.3405. EUR\/USD rose from 1.1160 to 1.1260 following the weak ISM number, and traded 1.1235-60 overnight. Price action in the Euro is likely to be quiet ahead of tomorrow&#39;s ECB rate decision.\n<\/p>\n<p>\n\tUSD\/JPY came under sharp pressure yesterday, falling from 103.40 to 102.00. It extended losses overnight and declined to a low of 101.20. Support is now seen at 101.00 and 100.00\/10.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t07:00 BST &#8211; German Industrial Production\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\t09:30 BST &#8211; UK Industrial Production\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Manufacturing Production\n\t<\/li>\n<li>\n\t\t10:15 BST &#8211; BoE MPC Member Cunliffe speaks\n\t<\/li>\n<li>\n\t\t14:15 BST &#8211; Bank of England Governor Carney speaks\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; UK NIESR GDP Estimate\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US JOLTs Job Openings\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; Bank of Canada Interest Rate Decision\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; Canada Ivey PMI\n\t<\/li>\n<li>\n\t\t19:00 BST &#8211; US Beige Book\n\t<\/li>\n<li>\n\t\t23:55 BST &#8211; RBA Assistant Governor Lowe speaks\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.65 %, Shanghai Composite gained 0.35 %, Hang Seng fell 0.30 %, ASX 200 lost 0.05 % Commodities: Gold at $1356 (+0.20 %), Silver at $20.10 (-0.20 %), WTI Oil at $45.00 (+0.40 %), Brent Oil at $47.50 (+0.55 %) Rates: US 10 year yield at 1.54, UK &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/wednesday-7th-september-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 7th September: 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-18121","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\/18121","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=18121"}],"version-history":[{"count":2,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18121\/revisions"}],"predecessor-version":[{"id":18123,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18121\/revisions\/18123"}],"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=18121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=18121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=18121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}