{"id":18750,"date":"2016-11-01T10:57:33","date_gmt":"2016-11-01T05:27:33","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=18750"},"modified":"2016-11-01T10:57:33","modified_gmt":"2016-11-01T05:27:33","slug":"tuesday-1st-november-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/tuesday-1st-november-european-open-briefing\/","title":{"rendered":"Tuesday 1st November: 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 0.35 %, Hang Seng rose 1.25 %, ASX 200 lost 0.60 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1277 (+0.35 %), Silver at $17.89 (+0.50 %), WTI Oil at $47.00 (+0.25 %), Brent Oil at $48.90 (+0.60 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 1.85, UK 10-year yield at 1.25, German 10-year yield at 0.16\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tChina NBS Manufacturing PMI Oct: 51.2 (est 50.4, prev 50.4)\n\t<\/li>\n<li>\n\t\tChina NBS Non-Manufacturing PMI Oct: 54.0 (prev 53.7)\n\t<\/li>\n<li>\n\t\tChina Caixin Manufacturing PMI Oct: 51.2 (est 50.2, prev 50.1)\n\t<\/li>\n<li>\n\t\tJapan Nikkei Manufacturing PMI Oct F: 51.4 (prev 51.7)\n\t<\/li>\n<li>\n\t\tAustralia AIG Manufacturing Index Oct: 50.9 (prev 49.8)\n\t<\/li>\n<li>\n\t\tAustralia ANZ\/RM Weekly Consumer Confidence (30\/Oct): 114.1 (prev 113.6)\n\t<\/li>\n<li>\n\t\tNew Zealand QV House Prices YoY (Oct): 12.7% (prev 14.3%)\n\t<\/li>\n<li>\n\t\tSouth Korea Trade Balance (USD) Oct: 7.161bn (est 7.235bn, prev rev 6.901bn)\n\t<\/li>\n<li>\n\t\tSouth Korea Exports (YoY) Oct: -3.2% (est -3.10%, prev -5.90%)\n\t<\/li>\n<li>\n\t\tSouth Korea Imports (YoY) Oct: -5.4% (est -4.40%, prev -1.70%)\n\t<\/li>\n<li>\n\t\tPBOC fixes yuan at 6.7734 (prev fix 6.7641, prev close 6.7782)\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Bank of Japan Rate Decision:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tBank of Japan keeps monetary policy steady\n\t<\/li>\n<li>\n\t\tMaintains short-term interest rate target at -0.1 %\n\t<\/li>\n<li>\n\t\tMaintains 10-year JBG yield target around zero %\n\t<\/li>\n<li>\n\t\tTo buy JGBs more or less at current pace so holdings increase at annual pace of around 80 trillion yen\n\t<\/li>\n<li>\n\t\tBOJ says if confidence in fiscal stability declines, economy may deviate downward from baseline scenario\n\t<\/li>\n<li>\n\t\tInflation likely to increase towards 2 % in second half of 3-year projection period ending in fiscal 2018\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>RBA Rate Decision:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tRBA keeps rates unchanged\n\t<\/li>\n<li>\n\t\tSays global economy continues to grow, at below average pace\n\t<\/li>\n<li>\n\t\tSays judged unchanged policy consistent with growth, inflation targets\n\t<\/li>\n<li>\n\t\tChina growth has been steadied recently\n\t<\/li>\n<li>\n\t\tCommodity prices have risen over recent months, lifted terms of trade\n\t<\/li>\n<li>\n\t\tAustralian economy growing at moderate rate\n\t<\/li>\n<li>\n\t\tLabour market indicators somewhat mixed\n\t<\/li>\n<li>\n\t\tSays some housing prices rising briskly\n\t<\/li>\n<li>\n\t\tInflation expected to remain low for some time\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe focus overnight was on the two central bank rate decisions &#8211; the BoJ and RBA. Both kept their monetary policy unchanged, as expected, and the impact on markets was therefore modest. USD\/JPY rose from 104.70 to 104.95 and is currently consolidating around 104.80 as traders are waiting for the BoJ press conference. However, there are unlikely to be any surprises there either. Meanwhile, the Australian Dollar rallied after the RBA decision. The market was already expecting that the RBA will keep rates unchanged, but the statement was slightly less dovish, which helped the AUD\/USD to rise to 0.7660.\n<\/p>\n<p>\n\tEUR\/USD was quiet as usual and traded within a 1.0960-80 range. GBP\/USD ran again into decent resistance ahead of 1.2250, and consolidated in Asia after it wasn&#39;t able to break the level. Cable fell to 1.2210 ahead of the Tokyo open, but bounced from there and made it back to 1.2255.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t09:30 GMT &#8211; UK Manufacturing PMI\n\t<\/li>\n<li>\n\t\t12:30 GMT &#8211; Canadian GDP\n\t<\/li>\n<li>\n\t\t14:00 GMT &#8211; US ISM Non-Manufacturing PMI\n\t<\/li>\n<li>\n\t\t16:00 GMT &#8211; Bank of Canada Governor Poloz speaks\n\t<\/li>\n<li>\n\t\t16:30 GMT &#8211; SNB Chairman Jordan speaks\n\t<\/li>\n<li>\n\t\t21:45 GMT &#8211; New Zealand Employment Change\n\t<\/li>\n<li>\n\t\t21:45 GMT &#8211; New Zealand Unemployment Rate\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.05 %, Shanghai Composite gained 0.35 %, Hang Seng rose 1.25 %, ASX 200 lost 0.60 % Commodities: Gold at $1277 (+0.35 %), Silver at $17.89 (+0.50 %), WTI Oil at $47.00 (+0.25 %), Brent Oil at $48.90 (+0.60 %) Rates: US 10-year yield at 1.85, UK 10-year &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/tuesday-1st-november-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 1st November: 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-18750","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\/18750","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=18750"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18750\/revisions"}],"predecessor-version":[{"id":18751,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18750\/revisions\/18751"}],"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=18750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=18750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=18750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}