{"id":18482,"date":"2016-10-07T10:18:33","date_gmt":"2016-10-07T04:48:33","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=18482"},"modified":"2016-10-07T10:18:33","modified_gmt":"2016-10-07T04:48:33","slug":"friday-7th-october-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/friday-7th-october-european-open-briefing\/","title":{"rendered":"Friday 7th 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 and ASX both down 0.30 %, Hang Seng lost 0.35 %, Shanghai Composite closed\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1255 (+0.20 %), Silver at $17.32 (-0.15 %), WTI Oil at $50.40 (-0.10 %), Brent Oil at $52.45 (-0.15 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.73, UK 10 year yield at 0.87, German 10 year yield at -0.02\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 Perf of Construction Index Sep: 51.4 (prev. 46.6)\n\t<\/li>\n<li>\n\t\tJapan Labour Cash Earnings (YoY) Aug: -0.1% (est. 0.40%, prev. 1.20%)\n\t<\/li>\n<li>\n\t\tSterling recoups some losses after near 10 percent plunge; stocks slip &#8211; RTRS\n\t<\/li>\n<li>\n\t\tWall Street ends flat with eyes on payrolls &#8211; RTRS\n\t<\/li>\n<li>\n\t\tTreasuries Extend Selloff as Fed Bets Boost Dollar; Gold Slumps &#8211; RTRS\n\t<\/li>\n<li>\n\t\tGoldman Sees &lsquo;Buying Opportunity&rsquo; If Gold&rsquo;s Plunge Gets Worse &#8211; RTRS\n\t<\/li>\n<li>\n\t\tSeptember Payrolls Have Been a Disappointment Since 2009 &#8211; RTRS\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tAll eyes were on the GBP overnight. At approximately 2305 GMT, GBP\/USD had a flash crash that send the pair 800 pips lower, from 1.2610 to a low of almost 1.18. While some see the comments made from French PM Hollande as the trigger, this was clearly not a normal reaction and liquidity in the interbank market was bad, given it happened at a time where US traders have already left their desks and Asian traders just joined.\n<\/p>\n<p>\n\tGBP\/USD has recovered most of its losses during the Asian session and rose to 1.2480, but is likely to remain under pressure in the near-term, especially if today&#39;s US employment data beat expectations.\n<\/p>\n<p>\n\tPrice action in the other major pairs was quiet compared to the Pound. EUR\/USD traded within a 1.1110-50 range, while USD\/JPY fell from 104.00 to a low of 103.55. The Australian Dollar continues to consolidate and traded 0.7660-90 overnight. The New Zealand Dollar saw a larger decline today, as it fell from 0.7170 to a low of 0.7125.\n<\/p>\n<p>\n\tThere will be plenty of data releases today, but the focus will be on US employment data, with NFP expected to come in at 175k.\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 Current Account\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 Manufacturing Production\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Industrial Production\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; Canadian Employment Change\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; Canadian Unemployment Rate\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; Canadian Ivey PMI\n\t<\/li>\n<li>\n\t\t15:30 BST &#8211; FOMC Member Fischer speaks\n\t<\/li>\n<li>\n\t\t17:45 BST &#8211; FOMC Member Mester speaks\n\t<\/li>\n<li>\n\t\t20:00 BST &#8211; FOMC Member George speaks\n\t<\/li>\n<li>\n\t\t20:30 BST &#8211; CFTC Positioning Data\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei and ASX both down 0.30 %, Hang Seng lost 0.35 %, Shanghai Composite closed Commodities: Gold at $1255 (+0.20 %), Silver at $17.32 (-0.15 %), WTI Oil at $50.40 (-0.10 %), Brent Oil at $52.45 (-0.15 %) Rates: US 10 year yield at 1.73, UK 10 year yield at &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/friday-7th-october-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Friday 7th 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-18482","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\/18482","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=18482"}],"version-history":[{"count":2,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18482\/revisions"}],"predecessor-version":[{"id":18484,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18482\/revisions\/18484"}],"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=18482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=18482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=18482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}