{"id":18510,"date":"2016-10-11T09:17:02","date_gmt":"2016-10-11T03:47:02","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=18510"},"modified":"2016-10-11T09:17:02","modified_gmt":"2016-10-11T03:47:02","slug":"tuesday-11th-october-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/tuesday-11th-october-european-open-briefing\/","title":{"rendered":"Tuesday 11th 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 0.05 %, Shanghai Composite gained 0.40 %, Hang Seng declined 1.10 %, ASX 200 rose 0.15 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1260 (-0.05 %), Silver at $17.69 (+0.15 %), WTI Oil at $51.25 (-0.20 %), Brent Oil at $53.05 (-0.20 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.77, UK 10 year yield at 1.02, German 10 year yield at 0.05\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAustralian ANZ Roy Morgan Weekly Consumer Confidence Oct-9: 117.5 (prev 117.9)\n\t<\/li>\n<li>\n\t\tAustralian NAB Business Conditions Sep: 8 (prev 7)\n\t<\/li>\n<li>\n\t\tAustralian NAB Business Confidence Sep: 6 (prev 6)\n\t<\/li>\n<li>\n\t\tAustralian Home Loans (MoM) Aug: -3.0% (est -1.5%, prev -4.2%, rev -4.5%)\n\t<\/li>\n<li>\n\t\tAustralian Investment Lending (MoM) Aug: 0.1% (prev 0.5%)\n\t<\/li>\n<li>\n\t\tJapan Trade Balance BoP Basis (JPY) Aug: 243.2bln (est 116.5bln, prev 613.9bln)\n\t<\/li>\n<li>\n\t\tJapan Current Account (JPY) Aug: 2000.8bln (est 1502.7bln)\n\t<\/li>\n<li>\n\t\tPBoC Fixes Yuan Reference Rate at 6.7098 (prev 6.7008)\n\t<\/li>\n<li>\n\t\tFed&rsquo;s Evans: Sees inflation not improving to 2% until about 2020\n\t<\/li>\n<li>\n\t\tChina Premier Li: Global economic recovery is slow; protectionism is rising\n\t<\/li>\n<li>\n\t\tLi: Chinese is economy is in a reasonable range\n\t<\/li>\n<li>\n\t\tLi: Economy still faces downward pressure; debt risks are under control\n\t<\/li>\n<li>\n\t\tRBNZ&rsquo;s McDermott: Projections indicate further easing will be required\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tCommodity currencies declined sharply overnight, as the US Dollar extended gains. AUD\/USD fell from 0.7610 in the early Asian session to a low of 0.7545 so far. It has broken below key support and further losses seem likely. NZD\/USD has been under pressure since it broke below 0.72, and it extended losses to 0.7060 overnight. Techs remain bearish, with key support now seen at 0.6950. Meanwhile, USD\/CAD keeps rising, despite the rally in oil prices, which usually supports the Canadian Dollar. USD\/CAD bounced off 1.3140 yesterday and is now back above 1.32.\n<\/p>\n<p>\n\tThe Pound is still weak and continues to post fresh lows, although a bit slower since Friday&#39;s flash crash. GBP\/USD traded as low as 1.2300 overnight, and a break below the big figure seems imminent. EUR\/USD was quiet as usual, trading in a 1.1120-40 range.\n<\/p>\n<p>\n\tGold retraced some of the gains it made yesterday, but is holding relatively well given the broad USD strength at the moment. Support is seen at $1250, followed by Friday&#39;s low at $1241. Silver was rejected at $17.75 resistance yesterday and fell to $17.57 in Asia. Key support is noted at $17.05.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t10:00 BST &#8211; German ZEW Economic Sentiment\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone ZEW Economic Sentiment\n\t<\/li>\n<li>\n\t\t13:15 BST &#8211; Canadian Housing Starts\n\t<\/li>\n<li>\n\t\t16:00 BST &#8211; FOMC Member Kashkari speaks\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.05 %, Shanghai Composite gained 0.40 %, Hang Seng declined 1.10 %, ASX 200 rose 0.15 % Commodities: Gold at $1260 (-0.05 %), Silver at $17.69 (+0.15 %), WTI Oil at $51.25 (-0.20 %), Brent Oil at $53.05 (-0.20 %) Rates: US 10 year yield at 1.77, UK &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/tuesday-11th-october-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 11th 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-18510","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\/18510","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=18510"}],"version-history":[{"count":2,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18510\/revisions"}],"predecessor-version":[{"id":18512,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18510\/revisions\/18512"}],"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=18510"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=18510"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=18510"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}