{"id":18863,"date":"2016-11-10T11:31:37","date_gmt":"2016-11-10T06:01:37","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=18863"},"modified":"2016-11-10T11:33:06","modified_gmt":"2016-11-10T06:03:06","slug":"european-open-briefing-10th-november-2016","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/european-open-briefing-10th-november-2016\/","title":{"rendered":"Thursday 10th 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 6.70 %, Shanghai Composite gained 1.25 %, Hang Seng rose 2.00 %, ASX 200 rallied 3.35 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1285 (+0.90 %), Silver at $18.60 (+1.20 %), WTI Oil at $45.25 (-0.05 %), Brent Oil at $46.50 (+0.25 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.04, UK 10 year yield at 1.26, German 10 year yield at 0.21\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) Sep: -3.3%&nbsp; (est. -0.80% prev. -2.20%)\n\t<\/li>\n<li>\n\t\tJapan Machinery Orders (YoY)Sep: 4.3% (est. 3.50% prev. 11.60%)\n\t<\/li>\n<li>\n\t\tUK RICS House Price Balance Oct: 23% (est. 19% prev. 17%)\n\t<\/li>\n<li>\n\t\tAustralia Home Loans (MoM) Sep: 1.6% (est. -2.00% prev. -3.00%)\n\t<\/li>\n<li>\n\t\tRBNZ cuts rates 25 basis points, as expected\n\t<\/li>\n<li>\n\t\tRBNZ: A decline in the exchange rate is needed\n\t<\/li>\n<li>\n\t\tRBNZ sees inflation hitting 2% in Q4 2018 vs Q3 2018\n\t<\/li>\n<li>\n\t\tRBNZ: Monetary policy will continue to be accommodative&nbsp;&nbsp;\n\t<\/li>\n<li>\n\t\tRBNZ&#39;s Wheeler: One might say there is 20% probability of a further RBNZ rate cut\n\t<\/li>\n<li>\n\t\tRBNZ says new neutral rate is lower; open mind regarding FX intervention\n\t<\/li>\n<li>\n\t\tRBNZ&#39;s McDermott: Can cut rate more if needed, risks on rates still to the downside. NZD too high, looks at intervention at each meeting\n\t<\/li>\n<li>\n\t\tPBOC sets USD\/CNY mid-point at 6.7885 (prev. fix 6.7832, prev. close 6.7777)\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tMarkets have stabilized yesterday, after a chaotic trading session during the election. Global equity markets recovered, and the S&amp;P finished up on the day, after being down 5 % in the previous Asian session.\n<\/p>\n<p>\n\tAsia picked up the positive sentiment, and the Nikkei rallied more than 6 %, while the Hang Seng and ASX gained more than 2 %.\n<\/p>\n<p>\n\tIn FX, the US Dollar weakened slightly overnight. EUR\/USD made it from 1.0910 to 1.0955, while Cable bounced off 1.2395 and rose to 1.2440. Meanwhile, USD\/JPY came under pressure after almost reaching 106 in New York, and declined to 104.95.\n<\/p>\n<p>\n\tThe commodity currencies benefited from the improvement in risk appetite, with the Australian Dollar rising to 0.7675 against the Dollar. The New Zealand Dollar however, declined after a RBNZ rate cut, accompanied by a dovish statement. The RBNZ said that a decline in the NZD is needed, and that it has been looking at intervention as an option. NZD\/USD fell from 0.7360 to 0.7235 overnight.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t13:30 GMT &#8211; US Initial Jobless Claims\n\t<\/li>\n<li>\n\t\t14:15 GMT &#8211; FOMC Member Bullard speaks\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 6.70 %, Shanghai Composite gained 1.25 %, Hang Seng rose 2.00 %, ASX 200 rallied 3.35 % Commodities: Gold at $1285 (+0.90 %), Silver at $18.60 (+1.20 %), WTI Oil at $45.25 (-0.05 %), Brent Oil at $46.50 (+0.25 %) Rates: US 10 year yield at 2.04, UK &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/european-open-briefing-10th-november-2016\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Thursday 10th 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-18863","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\/18863","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=18863"}],"version-history":[{"count":2,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18863\/revisions"}],"predecessor-version":[{"id":18865,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18863\/revisions\/18865"}],"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=18863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=18863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=18863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}