{"id":18283,"date":"2016-09-21T10:18:41","date_gmt":"2016-09-21T04:48:41","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=18283"},"modified":"2016-09-21T10:18:41","modified_gmt":"2016-09-21T04:48:41","slug":"wednesday-21st-september-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/wednesday-21st-september-european-open-briefing\/","title":{"rendered":"Wednesday 21st 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 up 1.00 %, Shanghai Composite fell 0.05 %, Hang Seng rose 0.35 %, ASX 200 rallied 0.60 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1316 (-0.15 %), Silver at $19.25 (-0.20 %), WTI Oil at $44.85 (+1.80 %), Brent Oil at $46.45 (+1.25 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.73, UK 10 year yield at 0.80, German 10 year yield at -0.01\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Bank of Japan Rate Decision:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tBOJ: Maintains -0.1 % Negative Interest Rate\n\t<\/li>\n<li>\n\t\tBOJ: To Abandon Monetary Base Target\n\t<\/li>\n<li>\n\t\tBOJ: Decides to Modify Its Policy Framework\n\t<\/li>\n<li>\n\t\tBOJ: Adopts QQE with Yield Curve Control\n\t<\/li>\n<li>\n\t\tBOJ: To Keep Buying JGBs So Balance of Its Holdings Increases at Annual Pace of 80 Trillion Yen\n\t<\/li>\n<li>\n\t\tBOJ: Introduces New Market Ops for Yield Curve Control\n\t<\/li>\n<li>\n\t\tBOJ: To Buy JGBs So 10 Year Yield Hovers Around 0 %\n\t<\/li>\n<li>\n\t\tBOJ: Scraps Range for Duration of JGBs That BoJ Buys\n\t<\/li>\n<li>\n\t\tBOJ: Max Amount of Each ETF Purchase Will Take into Account Total Market Value of ETF, And Coverage of Index ETF Tracks\n\t<\/li>\n<li>\n\t\tBOJ: Can Cut Short Term Policy Rate, Target Level of Long Term Rates in Future Easing\n\t<\/li>\n<li>\n\t\tBOJ: May Accelerate Expansion of Monetary Base as Future Policy Option\n\t<\/li>\n<li>\n\t\tBOJ: To Continue Expanding Monetary Base Until CPI Exceeds 2 % And Stays Above Target in Stable Manner\n\t<\/li>\n<li>\n\t\tBOJ: To Make Yield Curve Control a Centrepiece of Its New Policy Framework\n\t<\/li>\n<li>\n\t\tBOJ: Decision On Yield Curve Control Was Made by 7-2 Vote\n\t<\/li>\n<li>\n\t\tBOJ: Decision On New JGB Market Ops Made by 8-1 Vote\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tJapan Trade Balance (Aug): JPY -18.1 Bln (est JPY 191.0 Bln rev prev JPY 513.6 Bln)\n\t<\/li>\n<li>\n\t\tJapan Exports (YoY) Aug: -9.6% (est -4.7% prev -14.0%)\n\t<\/li>\n<li>\n\t\tJapan Imports (YoY) Aug: -17.3% (est -16.6% prev -24.7%)\n\t<\/li>\n<li>\n\t\tAustralia Skilled Vacancies (MoM) Aug: -0.4% (prev -0.6%)\n\t<\/li>\n<li>\n\t\tSouth Korea PPI (YoY) Aug: -1.7% (rev prev -2.5%)\n\t<\/li>\n<li>\n\t\tSouth Korea PPI (MoM) Aug: 0.1% (prev -0.1%)\n\t<\/li>\n<li>\n\t\tPBoC Fixes Yuan at 6.6738 (prev 6.6595)\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>Markets Update:<\/strong>\n<\/p>\n<p>\n\tUSD\/JPY rallied after the BoJ announced new measures to achieve its 2 % inflation goal. While the central bank refrained from cutting rates and increasing the size of its QE programme, it added a yield curve control to its policy framework. The BoJ&#39;s goal is to keep the 10-year yield around 0 %.\n<\/p>\n<p>\n\tUSD\/JPY rose from 101.40 to 102.60 after the announcement. AUD\/JPY rallied from 76.60 to 77.40, while EUR\/JPY made it from 113.00 to 114.20 and GBP\/JPY from 131.50 to 133.00.\n<\/p>\n<p>\n\tThe Dollar caught a bid after the BoJ and strengthened against all other major currencies. EUR\/USD fell from 1.1150 to 1.1125, while GBP\/USD declined from 1.30 to 1.2940.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t07:30 BST &#8211; Bank of Japan Press Conference\n\t<\/li>\n<li>\n\t\t15:30 BST &#8211; US Crude Oil Inventories\n\t<\/li>\n<li>\n\t\t19:00 BST &#8211; Fed Rate Decision\n\t<\/li>\n<li>\n\t\t19:00 BST &#8211; FOMC Statement\n\t<\/li>\n<li>\n\t\t19:30 BST &#8211; Fed Chair Yellen speaks\n\t<\/li>\n<li>\n\t\t22:00 BST &#8211; RBNZ Rate Decision\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 1.00 %, Shanghai Composite fell 0.05 %, Hang Seng rose 0.35 %, ASX 200 rallied 0.60 % Commodities: Gold at $1316 (-0.15 %), Silver at $19.25 (-0.20 %), WTI Oil at $44.85 (+1.80 %), Brent Oil at $46.45 (+1.25 %) Rates: US 10 year yield at 1.73, UK &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/wednesday-21st-september-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 21st 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-18283","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\/18283","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=18283"}],"version-history":[{"count":2,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18283\/revisions"}],"predecessor-version":[{"id":18285,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18283\/revisions\/18285"}],"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=18283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=18283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=18283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}