{"id":18769,"date":"2016-11-02T11:20:02","date_gmt":"2016-11-02T05:50:02","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=18769"},"modified":"2016-11-02T11:20:21","modified_gmt":"2016-11-02T05:50:21","slug":"wednesday-2nd-november-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/wednesday-2nd-november-european-open-briefing\/","title":{"rendered":"Wednesday 2nd 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 down 1.85 %, Shanghai Composite lost 0.60 %, Hang Seng fell 1.40 %, ASX 200 declined 1.15 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1292 (+0.40 %), Silver at $18.43 (+0.05 %), WTI Oil at $46.30 (-0.80 %), Brent Oil at $47.85 (-0.60 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 1.82, UK 10-year yield at 1.28, German 10-year yield at 0.17\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAustralia Building Approvals (MoM) Sep: -8.7%(est. -3.00%, prev. -1.80%)\n\t<\/li>\n<li>\n\t\tAustralia Building Approvals (YoY) Sep: -6.4% (est. 2.10%, prev. 10.10%)\n\t<\/li>\n<li>\n\t\tNew Zealand Unemployment Rate Q3: 4.9% (est. 5.10%, prev. 5.10%)\n\t<\/li>\n<li>\n\t\tNew Zealand Employment Change (QoQ) Q3: 1.4% (est. 0.60%, prev. 2.40%)\n\t<\/li>\n<li>\n\t\tNew Zealand Participation Rate Q3: 70.1% (est. 69.70%, prev. 69.70%)\n\t<\/li>\n<li>\n\t\tNew Zealand Average Hourly Earnings (QoQ) Q3: 0.3% (est. 1.00%, prev. 0.80%)\n\t<\/li>\n<li>\n\t\tNew Zealand 2-year Inflation Expectations (QoQ) Q4: 1.68% (prev. 1.65%)\n\t<\/li>\n<li>\n\t\tJapan Monetary Base (YoY) Oct: 22.1% (prev. 22.70%)\n\t<\/li>\n<li>\n\t\tUK BRC Shop Price Index (YoY) Oct: -1.7% (prev. -1.80%)\n\t<\/li>\n<li>\n\t\tNIESR Prospects for UK Economy: 2% GDP growth in 2016, 1.4% in 2017; article 50 will impact growth next year\n\t<\/li>\n<li>\n\t\tPBOC sets USD\/CNY mid-point at 6.7562 (prev. fix. 6.7734, prev. close 6.7680)\n\t<\/li>\n<li>\n\t\tBoJ&#39;s Kuroda: Japan potential growth rate is 0.5% or lower; risks are to the downside for economic outlook &#8211; RTRS\n\t<\/li>\n<li>\n\t\tBoJ&rsquo;s Kuroda: Ready to Take Further Monetary Policy Action If Required\n\t<\/li>\n<li>\n\t\tBoJ&rsquo;s Kuroda: Strong likelihood 2% inflation target hit by 2018\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tIt&#39;s risk-off in markets again, as traders and investors are concerned about US political risks. Trump&#39;s chance of winning the US election have increased as Hillary Clinton&#39;s campaign has been hurt by the FBI investigation. A Trump victory would put stocks worldwide under strong pressure and lead to a rush into safe-havens (JPY, CHF and Gold), while the Dollar and risk currencies (CAD, MXN&#8230;) would suffer.\n<\/p>\n<p>\n\tOvernight, the Euro extended gains against the Dollar and rose to a high of 1.1075. EUR\/USD remains very well bid, and support is now seen at 1.1020 &amp; 1.0990. GBP\/USD continues to consolidate and was stuck in a 1.2220-50 range in Asia.\n<\/p>\n<p>\n\tUSD\/JPY declined sharply yesterday and extended losses overnight, falling to a low of 103.65. Much will depend on the Fed tonight, but a break below 103.15 support could intensify negative momentum and signal a move towards 102.\n<\/p>\n<p>\n\tCommodity currencies were mixed. The Canadian Dollar declined along with Oil, while the Australian Dollar fell amid the broad risk-off sentiment. However, the New Zealand Dollar rallied against most currencies overnight after better than expected employment data and an uptick in inflation expectations. NZD\/USD rose from 0.7160 to 0.7230.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t08:45 GMT &#8211; Italian Manufacturing PMI\n\t<\/li>\n<li>\n\t\t08:50 GMT &#8211; French Manufacturing PMI\n\t<\/li>\n<li>\n\t\t08:55 GMT &#8211; German Manufacturing PMI\n\t<\/li>\n<li>\n\t\t08:55 GMT &#8211; German Unemployment Rate\n\t<\/li>\n<li>\n\t\t08:55 GMT &#8211; German Employment Change\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; Euro Zone Manufacturing PMI\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Construction PMI\n\t<\/li>\n<li>\n\t\t12:15 GMT &#8211; US ADP Nonfarm Employment Change\n\t<\/li>\n<li>\n\t\t14:30 GMT &#8211; US Crude Oil Inventories\n\t<\/li>\n<li>\n\t\t18:00 GMT &#8211; Federal Reserve Rate Decision\n\t<\/li>\n<li>\n\t\t18:00 GMT &#8211; FOMC Statement\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 1.85 %, Shanghai Composite lost 0.60 %, Hang Seng fell 1.40 %, ASX 200 declined 1.15 % Commodities: Gold at $1292 (+0.40 %), Silver at $18.43 (+0.05 %), WTI Oil at $46.30 (-0.80 %), Brent Oil at $47.85 (-0.60 %) Rates: US 10-year yield at 1.82, UK 10-year &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/wednesday-2nd-november-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 2nd 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-18769","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\/18769","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=18769"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18769\/revisions"}],"predecessor-version":[{"id":18770,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18769\/revisions\/18770"}],"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=18769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=18769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=18769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}