{"id":18980,"date":"2016-11-21T09:57:46","date_gmt":"2016-11-21T04:27:46","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=18980"},"modified":"2016-11-21T09:57:46","modified_gmt":"2016-11-21T04:27:46","slug":"monday-21st-november-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/monday-21st-november-european-open-briefing\/","title":{"rendered":"Monday 21st 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 0.70 %, Shanghai Composite gained 0.85 %, Hang Seng and ASX 200 both rose 0.10 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1210 (+0.15 %), Silver at $16.62 (-0.10 %), WTI Oil at $46.90 (+1.20 %), Brent Oil at $47.45 (+1.25 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.24, UK 10-year yield at 1.47, German 10-year yield at 0.28\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 Bal. (JPY) Oct: 496.2bln (est. 610bln, prev. 497.6bln)\n\t<\/li>\n<li>\n\t\tJapan Trade Balance Adjusted (JPY) Oct: 476.3bln (est. 404.3bln, prev. 358.5bln)\n\t<\/li>\n<li>\n\t\tJapan Exports (YoY) Oct: -10.3% (est. -8.5%, prev. -6.9%)\n\t<\/li>\n<li>\n\t\tJapan Imports (YoY) Oct: -16.5% (est. -16.1%, prev. -16.3%)\n\t<\/li>\n<li>\n\t\tNew Zealand Credit Card Spending (MoM) Oct: 2.8% (prev. 2.6%)\n\t<\/li>\n<li>\n\t\tNew Zealand Credit Card Spending (YoY) Oct: 10.2% (prev. 8.2%)\n\t<\/li>\n<li>\n\t\tPBOC sets USD\/CNY mid-point at 6.8985 (prev. fix 6.8976, prev. close 6.8880)\n\t<\/li>\n<li>\n\t\tGerman Chancellor Merkel says she wants fourth term next year\n\t<\/li>\n<li>\n\t\tFed&rsquo;s Bullard: Sees no reason for major changes in Fed due to Trump, Fed is and will remain independent\n\t<\/li>\n<li>\n\t\tFed&rsquo;s Powell: There are still trade barriers to be eliminated, it appears process will be on hold for some time\n\t<\/li>\n<li>\n\t\tUK&#39;s Hammond: Some Brexit options could take a long time to negotiate, transition is important, need to get best deal\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>CFTC Positioning Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tEUR 119K short vs 129K short last week.&nbsp; Shorts pared by 10K\n\t<\/li>\n<li>\n\t\tGBP 80K short vs 90K short last week.&nbsp; Shorts pared by 10K\n\t<\/li>\n<li>\n\t\tJPY 21K long vs 32K long last week. Longs pared by 11K\n\t<\/li>\n<li>\n\t\tCHF 22K short vs. 23K short last week.&nbsp; Short pared by 1K\n\t<\/li>\n<li>\n\t\tCAD 18K short vs 21K short last week.&nbsp; Shorts pared by 3K\n\t<\/li>\n<li>\n\t\tAUD 42K long vs 41K long last week. Longs increased by 1K\n\t<\/li>\n<li>\n\t\tNZD 2K long vs 2K long last week. Unchanged on the week\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe Dollar&#39;s winning streak continues, as it extended gains against most other major currencies overnight. USD\/JPY opened around 110.90 and after a decline to 110.65, it rallied above 111 and extended gains to 111.20 so far. AUD\/USD recovered to 0.7340 in the early Asian session, but came under renewed pressure after the Tokyo open and fell to 0.7310. NZD\/USD declined to 0.6985, a fresh four-month low. The Euro bounced to 1.0615 in the early Asian session, but selling interest remains high on any rally. The topside was capped at 1.0615 and EUR\/USD fell back to 1.0590.\n<\/p>\n<p>\n\tPrecious metals rallied shortly after the open, but failed to sustain momentum. Gold rose from $1205 to $1214, but fell back to $1210 after the Tokyo open. Similar price action was seen in Silver, which rallied from $16.50 to $16.70, but retraced back to $16.58 later in the session.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t13:00 GMT &#8211; FOMC Member Fischer speaks\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; Canadian Wholesale Sales\n\t<\/li>\n<li>\n\t\t16:00 GMT &#8211; ECB President Draghi speaks\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>The Week Ahead:<\/strong><br \/>\n<\/h4>\n<p>\n\t<u>Tuesday, November 22nd<\/u>\n<\/p>\n<ul>\n<li>\n\t\t07:00 GMT &#8211; RBA Assistant Governor Debelle speaks\n\t<\/li>\n<li>\n\t\t07:45 GMT &#8211; RBA Assistant Governor Kent speaks\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; Canadian Retail Sales\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; US Existing Home Sales\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; US Richmond Manufacturing Index\n\t<\/li>\n<li>\n\t\t21:45 GMT &#8211; New Zealand Retail Sales\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Wednesday, November 23rd<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:30 GMT &#8211; Australian Construction Work Done\n\t<\/li>\n<li>\n\t\t08:00 GMT &#8211; French Manufacturing PMI\n\t<\/li>\n<li>\n\t\t08:00 GMT &#8211; French Services PMI\n\t<\/li>\n<li>\n\t\t08:30 GMT &#8211; German Manufacturing PMI\n\t<\/li>\n<li>\n\t\t08:30 GMT &#8211; German Services PMI\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; Euro Zone Manufacturing PMI\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; Euro Zone Services PMI\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Durable Goods Orders\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Initial Jobless Claims\n\t<\/li>\n<li>\n\t\t14:45 GMT &#8211; US Manufacturing PMI\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; US New Home Sales\n\t<\/li>\n<li>\n\t\t15:30 GMT &#8211; US Crude Oil Inventories\n\t<\/li>\n<li>\n\t\t19:00 GMT &#8211; FOMC Meeting Minutes\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Thursday, November 24th<\/u>\n<\/p>\n<ul>\n<li>\n\t\tUS Public Holiday &#8211; Thanksgiving\n\t<\/li>\n<li>\n\t\t00:30 GMT &#8211; Australian Private CAPEX\n\t<\/li>\n<li>\n\t\t00:30 GMT &#8211; Japan Manufacturing PMI\n\t<\/li>\n<li>\n\t\t05:00 GMT &#8211; Japan Leading Index\n\t<\/li>\n<li>\n\t\t07:00 GMT &#8211; German GDP\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; German IFO Business Climate\n\t<\/li>\n<li>\n\t\t12:00 GMT &#8211; German GfK Consumer Climate\n\t<\/li>\n<li>\n\t\t21:45 GMT &#8211; New Zealand Trade Balance\n\t<\/li>\n<li>\n\t\t23:30 GMT &#8211; Japan CPI\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Friday, November 25th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t09:30 GMT &#8211; UK GDP\n\t<\/li>\n<li>\n\t\t14:45 GMT &#8211; US Services PMI\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.70 %, Shanghai Composite gained 0.85 %, Hang Seng and ASX 200 both rose 0.10 % Commodities: Gold at $1210 (+0.15 %), Silver at $16.62 (-0.10 %), WTI Oil at $46.90 (+1.20 %), Brent Oil at $47.45 (+1.25 %) Rates: US 10-year yield at 2.24, UK 10-year yield &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/monday-21st-november-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 21st 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-18980","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\/18980","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=18980"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18980\/revisions"}],"predecessor-version":[{"id":18981,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/18980\/revisions\/18981"}],"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=18980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=18980"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=18980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}