{"id":18519,"date":"2016-10-12T10:34:56","date_gmt":"2016-10-12T05:04:56","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=18519"},"modified":"2016-10-12T10:34:56","modified_gmt":"2016-10-12T05:04:56","slug":"wednesday-12th-october-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/wednesday-12th-october-european-open-briefing\/","title":{"rendered":"Wednesday 12th 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 0.15 %, Shanghai Composite fell 0.35 %, Hang Seng declined 1.05 %, ASX 200 fell 0.30 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1258 (+0.20 %), Silver at $17.61 (+0.60 %), WTI Oil at $50.90 (+0.20 %), Brent Oil at $52.60 (+0.40 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.77, UK 10 year yield at 0.99, German 10 year yield at 0.03\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tJapan Machinery Orders (MoM)Aug: -2.2% (est. -4.70%, prev. 4.90%)\n\t<\/li>\n<li>\n\t\tJapan Machinery Orders (YoY)Aug: 11.6% (est. 7.90%, prev. 5.20%)\n\t<\/li>\n<li>\n\t\tAustralia Credit Card Purchases (AUD) Aug: 26.8B (prev. 23.6B)\n\t<\/li>\n<li>\n\t\tAustralia Credit Card Balances (AUD) Aug: 51.3B (prev. 51.3B)\n\t<\/li>\n<li>\n\t\tSouth Korea Unemployment Rate SA Sep: 4.0% (est. 3.80%, prev. 3.80%)\n\t<\/li>\n<li>\n\t\tSouth Korea M2 Money Supply (MoM) Aug: 0.7% (prev.0.70%)\n\t<\/li>\n<li>\n\t\tPBOC sets USD\/CNY mid-point at 6.7258 (prev. fix 6.7098, prev fix 6.7185)\n\t<\/li>\n<li>\n\t\tAsia shares slip as U.S. earnings disappoint, dollar gains &#8211; RTRS\n\t<\/li>\n<li>\n\t\tDollar pressured by sterling&#39;s rebound from selloff &#8211; RTRS\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tGBP\/USD remains highly volatile. The pair fell from 1.23 to 1.2090 in yesterday&#39;s NY session, only to retrace the entire move in Asia and reach a high of 1.2320. There was no news that could have triggered either of the moves, so price action is still purely flow-driven. There were also large squeezes in the GBP cross pairs. EUR\/GBP declined from 0.9120 to 0.8970, while GBP\/JPY rallied from 124.80 to 127.60. GBP traders should get used to the high volatility in the near-term, as uncertainties around the Brexit process continue to make traders nervous.\n<\/p>\n<p>\n\tEUR\/USD flows were light and the pair traded 1.1040-70 overnight. The next major support level is 1.10, while resistance is now seen at 1.1120. USD\/JPY fell overnight amid the risk-off bias in markets, from 103.70 to 103.30.\n<\/p>\n<p>\n\tHowever, the commodity currencies bounced despite the risk-off sentiment, mostly due to the USD weakness that the rally in GBP caused. AUD\/USD rallied from 0.7535 to 0.7590, while NZD\/USD rose from 0.7050 to 0.7095.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t07:00 BST &#8211; German WPI\n\t<\/li>\n<li>\n\t\t07:45 BST &#8211; French CPI\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Bank of England Member Cunliffe speaks\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone Industrial Production\n\t<\/li>\n<li>\n\t\t13:00 BST &#8211; FOMC Member Dudley speaks\n\t<\/li>\n<li>\n\t\t14:40 BST &#8211; FOMC Member George speaks\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US JOLTs Job Openings\n\t<\/li>\n<li>\n\t\t19:00 BST &#8211; FOMC Meeting Minutes\n\t<\/li>\n<\/ul>\n<p style=\"margin-left:.25in;\">\n\t&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.15 %, Shanghai Composite fell 0.35 %, Hang Seng declined 1.05 %, ASX 200 fell 0.30 % Commodities: Gold at $1258 (+0.20 %), Silver at $17.61 (+0.60 %), WTI Oil at $50.90 (+0.20 %), Brent Oil at $52.60 (+0.40 %) Rates: US 10 year yield at 1.77, UK &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/wednesday-12th-october-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 12th 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-18519","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\/18519","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=18519"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18519\/revisions"}],"predecessor-version":[{"id":18520,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18519\/revisions\/18520"}],"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=18519"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=18519"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=18519"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}