{"id":18655,"date":"2016-10-24T10:27:38","date_gmt":"2016-10-24T04:57:38","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=18655"},"modified":"2016-10-24T10:27:38","modified_gmt":"2016-10-24T04:57:38","slug":"monday-24th-october-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/monday-24th-october-european-open-briefing\/","title":{"rendered":"Monday 24th 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 0.30 %, Shanghai Composite gained 1.30 %, Hang Seng rose 0.40 %, ASX 200 declined 0.65 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1264 (-0.30 %), Silver at $17.52 (+0.15 %), WTI Oil at $50.60 (-0.50 %), Brent Oil at $51.55 (-0.40 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.74, UK 10 year yield at 1.08, German 10 year yield at 0.00\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 (JPY) Sep: 498.3bn (est 366.1B, prev -19.2B)\n\t<\/li>\n<li>\n\t\tJapan Trade Balance Adjusted (JPY) Sep: 349bn (est 211.0B, prev 364.4B)\n\t<\/li>\n<li>\n\t\tJapan Exports (YoY) Sep: -6.90% (est -10.80%, prev -9.60%)\n\t<\/li>\n<li>\n\t\tJapan Imports (YoY) Sep: -16.30% (est -17.00%, prev -17.20%)\n\t<\/li>\n<li>\n\t\tJapan Nikkei Manufacturing PMI Oct P: 51.7 (est 51, prev 50.4)\n\t<\/li>\n<li>\n\t\tPBOC fixes yuan @ 6.7690 vs prev fix 6.7558 and prev close 6.7655\n\t<\/li>\n<li>\n\t\tChinese state banks sold dollars in FX market &#8211; RTRS\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>CFTC Positioning Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tEUR 109K short versus 93K short last week\n\t<\/li>\n<li>\n\t\tGBP 91K short versus 95K short last week\n\t<\/li>\n<li>\n\t\tJPY 37K long versus 46K long last week\n\t<\/li>\n<li>\n\t\tCHF 16K short versus 9K short last week\n\t<\/li>\n<li>\n\t\tCAD 14K short versus 12K short last week\n\t<\/li>\n<li>\n\t\tAUD 30K long versus 26K long last week\n\t<\/li>\n<li>\n\t\tNZD 0K versus 8K short last week\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe Dollar strengthened against most currencies overnight. EUR\/USD opened around 1.0880 in Asia, unchanged from Friday&#39;s close, and declined to 1.0860 later in the session. GBP\/USD fell from 1.2220 to 1.2185, while USD\/JPY caught a bid and rose from 103.80 to 104.00.\n<\/p>\n<p>\n\tThe commodity currencies were rather quiet too. AUD\/USD traded in a 0.7590-0.7615 range, while NZD\/USD traded in a 0.7145-70 range. New Zealand markets were closed today for a public holiday, which led to light volumes in the NZD pairs. Meanwhile, USD\/CAD climbed from 1.3325 to 1.3360.\n<\/p>\n<p>\n\tThe offshore Yuan broke above 6.78 against the Dollar, while the onshore Yuan climbed above 6.77, the highest level since 2010. China&rsquo;s currency has been under pressure amid a rally in the USD caused by an increase in US rate expectations and weak Chinese economic data.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n<h4>\n\t\t\t08:00 BST &#8211; French Manufacturing PMI<br \/>\n\t\t<\/h4>\n<\/li>\n<li>\n\t\t08:00 BST &#8211; French Services PMI\n\t<\/li>\n<li>\n\t\t08:30 BST &#8211; German Manufacturing PMI\n\t<\/li>\n<li>\n\t\t08:30 BST &#8211; German Services PMI\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; Euro Zone Manufacturing PMI\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; Euro Zone Services PMI\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; Canadian Wholesale Sales\n\t<\/li>\n<li>\n\t\t14:00 BST &#8211; FOMC Member Dudley speaks\n\t<\/li>\n<li>\n\t\t14:05 BST &#8211; FOMC Member Bullard speaks\n\t<\/li>\n<li>\n\t\t14:45 BST &#8211; US Manufacturing PMI\n\t<\/li>\n<li>\n\t\t19:00 BST &#8211; FOMC Member Powell speaks\n\t<\/li>\n<li>\n\t\t20:30 BST &#8211; Bank of Canada Governor Poloz speaks\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>The Week Ahead:<\/strong><br \/>\n<\/h4>\n<p>\n\t<u>Tuesday, October 25th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t09:00 BST &#8211; German IFO Business Expectations\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; German IFO Business Climate\n\t<\/li>\n<li>\n\t\t14:00 BST &#8211; US House Price Index\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US CB Consumer Confidence\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US Richmond Manufacturing Index\n\t<\/li>\n<li>\n\t\t15:35 BST &#8211; Bank of England Carney speaks\n\t<\/li>\n<li>\n\t\t16:30 BST &#8211; ECB President Draghi speaks\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Wednesday, October 26th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t01:30 BST &#8211; Australia CPI\n\t<\/li>\n<li>\n\t\t07:00 BST &#8211; German Consumer Climate\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; Italian Retail Sales\n\t<\/li>\n<li>\n\t\t14:45 BST &#8211; US Services PMI\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US New Home Sales\n\t<\/li>\n<li>\n\t\t22:45 BST &#8211; New Zealand Trade Balance\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Thursday, October 27th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t03:30 BST &#8211; Singapore Unemployment Rate\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK GDP\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Initial Jobless Claims\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Durable Goods Orders\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US Pending Home Sales\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Friday, October 28th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:30 BST &#8211; Japan Unemployment Rate\n\t<\/li>\n<li>\n\t\t00:30 BST &#8211; Japan CPI\n\t<\/li>\n<li>\n\t\t00:30 BST &#8211; Japan Household Spending\n\t<\/li>\n<li>\n\t\t01:00 BST &#8211; Australia HIA New Home Sales\n\t<\/li>\n<li>\n\t\t01:30 BST &#8211; Australia PPI\n\t<\/li>\n<li>\n\t\t07:45 BST &#8211; French CPI\n\t<\/li>\n<li>\n\t\t08:00 BST &#8211; Spanish CPI\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone Consumer Confidence\n\t<\/li>\n<li>\n\t\t13:00 BST &#8211; German CPI\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US GDP\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US Michigan Consumer Sentiment\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.30 %, Shanghai Composite gained 1.30 %, Hang Seng rose 0.40 %, ASX 200 declined 0.65 % Commodities: Gold at $1264 (-0.30 %), Silver at $17.52 (+0.15 %), WTI Oil at $50.60 (-0.50 %), Brent Oil at $51.55 (-0.40 %) Rates: US 10 year yield at 1.74, UK &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/monday-24th-october-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 24th 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-18655","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\/18655","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=18655"}],"version-history":[{"count":2,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18655\/revisions"}],"predecessor-version":[{"id":18664,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18655\/revisions\/18664"}],"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=18655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=18655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=18655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}