{"id":19142,"date":"2016-12-05T11:08:14","date_gmt":"2016-12-05T05:38:14","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=19142"},"modified":"2016-12-05T11:08:14","modified_gmt":"2016-12-05T05:38:14","slug":"monday-5th-december-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/monday-5th-december-european-open-briefing\/","title":{"rendered":"Monday 5th December: 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 0.90 %, Shanghai Composite down 1.40 %, Hang Seng lost 0.30 %, ASX 200 declined 0.70 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1178 (+0.05 %), Silver at $16.80 (-0.20 %), WTI Oil at $51.35 (-0.70 %), Brent Oil at $54.10 (-0.60 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.35, UK 10-year yield at 1.38, 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\tChina Caixin Services PMI Nov: 53.1 (prev 52.4)\n\t<\/li>\n<li>\n\t\tChina Caixin Composite PMI Nov: 52.9 (prev 52.9)\n\t<\/li>\n<li>\n\t\tJapan Nikkei Services PMI Nov: 51.8 (prev 50.5)\n\t<\/li>\n<li>\n\t\tJapan Nikkei Composite PMI Nov: 52.0 (prev 51.3)\n\t<\/li>\n<li>\n\t\tJapan Consumer Confidence Nov: 40.9 (prev 42.3)\n\t<\/li>\n<li>\n\t\tAustralian MI Inflation Gauge (MoM) Nov: 0.1% (prev 0.2%)\n\t<\/li>\n<li>\n\t\tAustralian MI Inflation Gauge (YoY) Nov: 1.5% (prev 1.5%)\n\t<\/li>\n<li>\n\t\tAustralian Inventories (QoQ) Q3: 0.8% (est 0.3%, prev 0.3%)\n\t<\/li>\n<li>\n\t\tAustralian Company Operating Profits (QoQ) Q3: 1.0% (est 3.0%, prev 6.9%)\n\t<\/li>\n<li>\n\t\tAustralian ANZ Job Advertisements (MoM) Nov: 1.7% (prev 1.0%)\n\t<\/li>\n<li>\n\t\tNew Zealand ANZ Commodity Price (MoM) Nov: 2.7% (prev 0.7%)\n\t<\/li>\n<li>\n\t\tSingapore Nikkei PMI Nov: 52.8 (prev 50.5)\n\t<\/li>\n<li>\n\t\tHong Kong Nikkei PMI Nov: 49.5 (prev 48.2)\n\t<\/li>\n<li>\n\t\tUK BRC Shop Price Index (YoY) Nov: -1.7% (prev -1.7%)\n\t<\/li>\n<li>\n\t\tPBOC Fixes Yuan Reference Rate At 6.8870 (prev 6.8794)\n\t<\/li>\n<li>\n\t\tOPEC to meet non-OPEC producers on December 10 in Vienna &#8212; RTRS\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 119 short last week. Unchanged\n\t<\/li>\n<li>\n\t\tGBP 78K short vs 74K short last week. Shorts increased by 4K\n\t<\/li>\n<li>\n\t\tJPY 0K vs 11k long last week. Longs cut by 11k\n\t<\/li>\n<li>\n\t\tCHF 24K short vs. 23K short last week. Shorts increased by 1K\n\t<\/li>\n<li>\n\t\tCAD 19K short vs. 18K short last week. Shorts increase by 1K\n\t<\/li>\n<li>\n\t\tAUD 21K Long vs 31K long last week. A decline of 10K.\n\t<\/li>\n<li>\n\t\tNZD 2K short vs 0K last week. Short increased by 2K\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe Euro declined sharply overnight, after Italians rejected a constitutional overhaul, which led to the resignation of Prime Minister Renzi. EUR\/USD opened around 1.0590 in Sydney, down 100 pips from Friday&#39;s close, and extended losses to 1.0505 later in the session.\n<\/p>\n<p>\n\tThe Pound also came under pressure, but managed to recover. GBP\/USD opened at 1.2670 (down from 1.2720 from Friday&#39;s close) and declined to 1.2630. It found support there and rallied back to 1.2735 at the Tokyo open.\n<\/p>\n<p>\n\tUSD\/JPY caught a bid in the early session and rallied from 112.90 to 113.85, while the commodity currencies are slightly down on the day. AUD\/USD fell from 0.7460 to 0.7410, while NZD\/USD declined from 0.7135 to 0.7070.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t07:45 BST &#8211; Italian Services PMI\n\t<\/li>\n<li>\n\t\t07:50 BST &#8211; French Services PMI\n\t<\/li>\n<li>\n\t\t07:55 BST &#8211; German Services PMI\n\t<\/li>\n<li>\n\t\t08:00 BST &#8211; Euro Zone Services PMI\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Services PMI\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone Retail Sales\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; FOMC Member Dudley speaks\n\t<\/li>\n<li>\n\t\t14:00 BST &#8211; ECB President Draghi speaks\n\t<\/li>\n<li>\n\t\t14:45 BST &#8211; US Services PMI\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US ISM Non-Manufacturing PMI\n\t<\/li>\n<li>\n\t\t17:00 BST &#8211; Bank of England Governor Carney speaks\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>The Week Ahead:<\/strong><br \/>\n<\/h4>\n<p>\n\t<u>Tuesday, December 6th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:30 BST &#8211; Australia Current Account\n\t<\/li>\n<li>\n\t\t03:30 BST &#8211; RBA Rate Decision\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone GDP\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Trade Balance\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; Canadian Trade Balance\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US Factory Orders\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; Canadian Ivey PMI\n\t<\/li>\n<li>\n\t\t22:00 BST &#8211; RBNZ Governor Wheeler speaks\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Wednesday, December 7th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:30 BST &#8211; Australia GDP\n\t<\/li>\n<li>\n\t\t07:00 BST &#8211; German Industrial Production\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Manufacturing Production\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Industrial Production\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US JOLTs Job Openings\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; Bank of Canada Rate Decision\n\t<\/li>\n<li>\n\t\t15:30 BST &#8211; US Crude Oil Inventories\n\t<\/li>\n<li>\n\t\t23:50 BST &#8211; Japan GDP\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Thursday, December 8th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:30 BST &#8211; Australia Trade Balance\n\t<\/li>\n<li>\n\t\t02:30 BST &#8211; Chinese Trade Balance\n\t<\/li>\n<li>\n\t\t12:45 BST &#8211; ECB Rate Decision\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Initial Jobless Claims\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; ECB Press Conference\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Friday, December 9th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:30 BST &#8211; Australia Home Loans\n\t<\/li>\n<li>\n\t\t01:30 BST &#8211; Chinese CPI\n\t<\/li>\n<li>\n\t\t01:30 BST &#8211; Chinese PPI\n\t<\/li>\n<li>\n\t\t07:00 BST &#8211; German Trade Balance\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Trade Balance\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US Michigan Consumer Sentiment\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.90 %, Shanghai Composite down 1.40 %, Hang Seng lost 0.30 %, ASX 200 declined 0.70 % Commodities: Gold at $1178 (+0.05 %), Silver at $16.80 (-0.20 %), WTI Oil at $51.35 (-0.70 %), Brent Oil at $54.10 (-0.60 %) Rates: US 10-year yield at 2.35, UK 10-year &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/monday-5th-december-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 5th December: 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-19142","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\/19142","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=19142"}],"version-history":[{"count":1,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/19142\/revisions"}],"predecessor-version":[{"id":19143,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/19142\/revisions\/19143"}],"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=19142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=19142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=19142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}