{"id":18928,"date":"2016-11-16T11:26:46","date_gmt":"2016-11-16T05:56:46","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=18928"},"modified":"2016-11-16T11:26:46","modified_gmt":"2016-11-16T05:56:46","slug":"wednesday-16th-november-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/wednesday-16th-november-european-open-briefing\/","title":{"rendered":"Wednesday 16th 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 1.20 %, Shanghai Composite fell 0.25 %, Hang Seng gained 0.45 %, ASX 200 rose 0.05 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1230.95 (+0.55 %), Silver at $17.15 (+0.65 %), WTI Oil at $46.00 (+0.45 %), Brent Oil at $47.20 (+0.50 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.22, UK 10 year yield at 1.37, German 10 year yield at 0.31\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAustralia Wage Price Index (QoQ) Q3: 0.4% (est. 0.50%, prev. 0.50%)\n\t<\/li>\n<li>\n\t\tAustralia Wage Price Index (YoY) Q3: 1.9% (est. 2.00%, prev. 2.10%)\n\t<\/li>\n<li>\n\t\tAustralia New Motor Vehicle Sales (MoM) Oct: -2.4%&nbsp; (prev. 2.50%)\n\t<\/li>\n<li>\n\t\tAustralia Westpac Leading Index (MoM) Oct: 0.06% (prev. 0.08%)\n\t<\/li>\n<li>\n\t\tJapan Housing Loans (YoY) Q3: 2.7% (prev. 2.4%)\n\t<\/li>\n<li>\n\t\tPBOC set USDCNY mid-point at 6.8592 (prev. fix 6.8495, prev close 6.8565)\n\t<\/li>\n<li>\n\t\tAsia shares win reprieve as bond rout pauses for now &#8211; RTRS\n\t<\/li>\n<li>\n\t\tStrong U.S. retail sales reinforce December interest rate hike &#8211; RTRS\n\t<\/li>\n<li>\n\t\tOil prices fall after industry report shows stock build &#8211; RTRS\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tOvernight, the Dollar weakened slightly against the other major currencies. The market is now pricing in almost a 100 % chance of a rate hike next month, so it is questionable how much the Dollar rally can extend in the short-term.\n<\/p>\n<p>\n\tEUR\/USD opened around 1.0720 in Asia and rose to a high of 1.0760, while Cable rallied from 1.2435 to 1.2480. USD\/JPY ran into decent offers at 109.30 and retraced to 108.80 overnight, but remains well bid. A test of 110 seems likely, although the charts are suggesting the pair is heavily overbought in the short-term.\n<\/p>\n<p>\n\tThe commodity currencies are slightly down on the day. AUD\/USD fell from 0.7570 to 0.7540, while NZD\/USD declined from 0.7115 to 0.7080. Meanwhile, the Canadian Dollar continues to show strength amid a recovery in Oil prices. USD\/CAD fell from 1.3460 to 1.3425 in Asia and is down 150 pips since the trading week started. Support is now seen at 1.3350, followed by 1.3260.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t08:00 GMT &#8211; FOMC Member Bullard speaks\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Unemployment Rate\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Claimant Count Change\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Average Earnings\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Swiss ZEW Expectations\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US PPI\n\t<\/li>\n<li>\n\t\t14:15 GMT &#8211; US Industrial Production\n\t<\/li>\n<li>\n\t\t14:15 GMT &#8211; US Manufacturing Production\n\t<\/li>\n<li>\n\t\t15:30 GMT &#8211; US Crude Oil Inventories\n\t<\/li>\n<li>\n\t\t22:30 GMT &#8211; FOMC Member Harker speaks\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 1.20 %, Shanghai Composite fell 0.25 %, Hang Seng gained 0.45 %, ASX 200 rose 0.05 % Commodities: Gold at $1230.95 (+0.55 %), Silver at $17.15 (+0.65 %), WTI Oil at $46.00 (+0.45 %), Brent Oil at $47.20 (+0.50 %) Rates: US 10 year yield at 2.22, UK &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/wednesday-16th-november-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 16th 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-18928","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\/18928","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=18928"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18928\/revisions"}],"predecessor-version":[{"id":18929,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18928\/revisions\/18929"}],"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=18928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=18928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=18928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}