{"id":18434,"date":"2016-10-04T10:28:09","date_gmt":"2016-10-04T04:58:09","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=18434"},"modified":"2016-10-04T10:28:09","modified_gmt":"2016-10-04T04:58:09","slug":"tuesday-4th-october-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/tuesday-4th-october-european-open-briefing\/","title":{"rendered":"Tuesday 4th October: 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 0.80 %, Hang Seng rose 0.05 %, ASX 200 down 0.20 %, Shanghai Composite closed\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1312 (-0.05 %), Silver at $18.86 (-0.05 %), WTI Oil at $48.55 (-0.50 %), Brent Oil at $50.70 (-0.30 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.63, UK 10 year yield at 0.73, German 10 year yield at -0.10\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAustralia RBA Cash Rate Target Oct: 1.50% (est. 1.50%, prev. 1.50%)\n\t<\/li>\n<li>\n\t\tAustralia ANZ Roy Morgan Weekly Consumer Confidence Index 2-Oct: 117.9 (prev. 120.6)\n\t<\/li>\n<li>\n\t\tAustralia Building Approvals (MoM) Aug: -1.8% (est. -6.00%, prev. 11.30%)\n\t<\/li>\n<li>\n\t\tAustralia Building Approvals (YoY) Aug: 10.1% (est. 5.10%, prev. 3.10%)\n\t<\/li>\n<li>\n\t\tJapan Monetary Base (YoY) Sep: 22.7% (prev. 24.20%)\n\t<\/li>\n<li>\n\t\tNZ NZIER Business Confidence Q3: 26% (prev. 19%)\n\t<\/li>\n<li>\n\t\tNZ QV House Prices (YoY) Sep: 14.3% (prev. 14.60%)\n\t<\/li>\n<li>\n\t\tFed&#39;s Mester: All meetings live, including November; expects case to be compelling for a hike\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>RBA Statement:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tSays global economy growing at lower than average pace\n\t<\/li>\n<li>\n\t\tRBA says judged steady rate consistent with growth, inflation targets\n\t<\/li>\n<li>\n\t\tSays pace of China growth appears to be moderating\n\t<\/li>\n<li>\n\t\tRising AUD could complicate economic adjustment\n\t<\/li>\n<li>\n\t\tInflation expected to remain low for some time\n\t<\/li>\n<li>\n\t\tAustralian economy growing at moderate rate\n\t<\/li>\n<li>\n\t\tLabour market data mixed, sees continued growth in employment\n\t<\/li>\n<li>\n\t\tInflation expected to remain low for some time\n\t<\/li>\n<li>\n\t\tLenders taking more cautious attitude to housing\n\t<\/li>\n<li>\n\t\tLarge decline in mining investment being offset by growth in other areas\n\t<\/li>\n<li>\n\t\tHousehold consumption growing at reasonable pace but appears to have slowed recently\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe RBA kept its main rate unchanged at 1.50 %, as expected by the market. There were no surprises in the statement either, so the reaction in the Australian Dollar was muted. AUD\/USD fell from 0.7680 to 0.7660, and is currently down 0.05 % on the day. The RBA warned again that a rise in the AUD could complicate economic adjustment, but the market ignored that, as usually.\n<\/p>\n<p>\n\tNZD\/USD rose to a high of 0.7310 overnight, but ran out of momentum there and fell back to 0.7285 later in the session. USD\/CAD rose from 1.3110 to 1.3135, as oil prices weakened slightly.\n<\/p>\n<p>\n\tUSD\/JPY rallied above 102.00 and made it to 102.40, following strong US PMI data yesterday. The pair retraced to 102.10 later in the session, but the break above 102.20 resistance suggests that further gains are ahead, with the next major resistance area now at 103.00-30.\n<\/p>\n<p>\n\tEUR\/USD traded in a 1.1195-1.1215 range overnight, while GBP\/USD consolidated between 1.2815 and 1.2860. The Pound has come under pressure again, following the announcement by the UK government that it will trigger Article 50, which will start negotiations with the EU regarding the UK&#39;s exit from the union, in March of next year.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t09:30 BST &#8211; UK Construction PMI\n\t<\/li>\n<li>\n\t\t13:05 BST &#8211; FOMC Member Lacker speaks\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.80 %, Hang Seng rose 0.05 %, ASX 200 down 0.20 %, Shanghai Composite closed Commodities: Gold at $1312 (-0.05 %), Silver at $18.86 (-0.05 %), WTI Oil at $48.55 (-0.50 %), Brent Oil at $50.70 (-0.30 %) Rates: US 10 year yield at 1.63, UK 10 year &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/tuesday-4th-october-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 4th October: 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-18434","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\/18434","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=18434"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18434\/revisions"}],"predecessor-version":[{"id":18435,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18434\/revisions\/18435"}],"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=18434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=18434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=18434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}