{"id":19013,"date":"2016-11-23T11:46:53","date_gmt":"2016-11-23T06:16:53","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=19013"},"modified":"2016-11-23T11:46:53","modified_gmt":"2016-11-23T06:16:53","slug":"wednesday-23rd-november-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/wednesday-23rd-november-european-open-briefing\/","title":{"rendered":"Wednesday 23rd 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: Shanghai Composite gained 0.20 %, Hang Seng rose 0.40 %, ASX 200 rallied 1.30 %, Nikkei closed for holiday\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1213 (+0.20 %), Silver at $16.68 (+0.30 %), WTI Oil at $48.00 (-0.10 %), Brent Oil at $49.05 (-0.15 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.31, UK 10-year yield at 1.38, German 10-year yield at 0.23\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAustralia Skilled Vacancies (MoM) Oct: -0.4% (prv. -1.2%)\n\t<\/li>\n<li>\n\t\tAustralia Construction Work Done (QoQ) Q3: -4.9% (est. -1.70%, prev. -3.70%)\n\t<\/li>\n<li>\n\t\tPBOC set USDCNY mid-point at 6.8904 (prev. fix 6.8779, prev close 6.8920)\n\t<\/li>\n<li>\n\t\tAsia stocks share some Wall St joy, U.S. yields a drag &#8211; RTRS\n\t<\/li>\n<li>\n\t\tOPEC to debate oil output cut next week but Iraq, Iran hesitate &#8211; RTRS\n\t<\/li>\n<li>\n\t\tOil prices edge up on anticipation of OPEC-led production cut &#8211; RTRS\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tIn FX, it was quiet, partly due to the holiday in Japan. USD\/JPY was calm overnight and consolidated in a 110.95-111.15 range. The daily chart still shows extreme overbought conditions, and the pair is facing heavy resistance at 111.40\/80, which means that it could come under some pressure soon, especially if US traders decide to book profits ahead of the Thanksgiving holiday tomorrow.\n<\/p>\n<p>\n\tNot much to report about the Euro and Cable either. The former consolidated between 1.0620 and 1.0635, while Cable was stuck in a 1.2405-25 range.\n<\/p>\n<p>\n\tThe commodity currencies saw a bit higher volatility overnight. The Australian Dollar got a boost by the rise in commodity prices in Shanghai (especially Iron Ore), and rallied to a high of 0.7435. Immediate resistance is seen at 0.7450, and then at 0.7500\/05.\n<\/p>\n<p>\n\tOil remains very volatile as the OPEC meeting in Vienna is only seven days away. Key resistance is noted at 50, while solid support can be expected at 46.50.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\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","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Shanghai Composite gained 0.20 %, Hang Seng rose 0.40 %, ASX 200 rallied 1.30 %, Nikkei closed for holiday Commodities: Gold at $1213 (+0.20 %), Silver at $16.68 (+0.30 %), WTI Oil at $48.00 (-0.10 %), Brent Oil at $49.05 (-0.15 %) Rates: US 10-year yield at 2.31, UK 10-year &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/wednesday-23rd-november-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 23rd 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-19013","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\/19013","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=19013"}],"version-history":[{"count":2,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/19013\/revisions"}],"predecessor-version":[{"id":19015,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/19013\/revisions\/19015"}],"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=19013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=19013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=19013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}