{"id":19157,"date":"2016-12-06T11:59:55","date_gmt":"2016-12-06T06:29:55","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=19157"},"modified":"2016-12-06T11:59:55","modified_gmt":"2016-12-06T06:29:55","slug":"tuesday-6th-december-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-ch-asia.com\/blog\/tuesday-6th-december-european-open-briefing\/","title":{"rendered":"Tuesday 6th 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 up 0.60 %, Shanghai Composite gained 0.10 %, Hang Seng rallied 0.80 %, ASX 200 rose 0.50 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1173 (-0.30 %), Silver at $16.85 (-0.30 %), WTI Oil at $51.35 (-0.85 %), Brent Oil at $54.60 (-0.65 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.40, UK 10-year yield at 1.39, German 10-year yield at 0.33\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tRBA keeps Cash Rate unchanged at 1.5%, as expected\n\t<\/li>\n<li>\n\t\tJapanese Labour Cash Earnings (YoY) Oct: 0.1% (est 0.2%, prev 0.0%)\n\t<\/li>\n<li>\n\t\tJapanese Real Cash Earnings (YoY) Oct: 0.0% (est 0.2%, prev 0.8%)\n\t<\/li>\n<li>\n\t\tAustralian Current Account Balance (AUD) Q3: -11.4bln (est -13.7bln, prev -15.54bln)\n\t<\/li>\n<li>\n\t\tAustralian ANZ Roy Morgan Consumer Confidence (Dec 4): 118.6 (prev 115.4)\n\t<\/li>\n<li>\n\t\tUK BRC Sales LFL (YoY) Nov: 0.6% (est 1.7%, prev 1.7%)\n\t<\/li>\n<li>\n\t\tPBoC sets yuan reference rate at 6.8575 (prev 6.8870)\n\t<\/li>\n<li>\n\t\tFed&#39;s Bullard: December hike looks reasonable\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>RBA Statement:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tRising AUD could complicate economic transition\n\t<\/li>\n<li>\n\t\tSays judged steady policy consistent with growth and inflation targets\n\t<\/li>\n<li>\n\t\tSays global economy growing at lower than average pace\n\t<\/li>\n<li>\n\t\tSays Chinese economy has steadied\n\t<\/li>\n<li>\n\t\tLarge supply of apartments to come on stream in next couple of years\n\t<\/li>\n<li>\n\t\tRBA says home prices rising briskly in some markets\n\t<\/li>\n<li>\n\t\tGlobal outlook for inflation more balanced than &quot;for some time&quot;\n\t<\/li>\n<li>\n\t\tCommodity prices have risen, supporting rise in terms of trade\n\t<\/li>\n<li>\n\t\tExpects a slower annual growth rate before a pick up\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe RBA decided on interest rates overnight, and left them unchanged, as expected by the market. The statement also did not include any surprises, and there was not much of a reaction in the Australian Dollar. AUD\/USD opened around 0.7480 in Asia and declined to a low of 0.7445 later in the session. The New Zealand Dollar came under pressure yesterday after Prime Minister Key suddenly resigned. However, it managed to recover from this and rallied to 0.7150 yesterday. In Asia, it slightly extended gains, to 0.7160.\n<\/p>\n<p>\n\tThe market shrugged off the Italian referendum result, and the Euro recovered. EUR\/USD rose from 1.0505 to 1.0785 yesterday, and in Asia, it consolidated in a 1.0750-70 range amid light flows.\n<\/p>\n<p>\n\tUSD\/JPY came under pressure following another failure at 114.80 resistance yesterday, and declined to 113.10. In Asia, it recovered and rose to a high of 114.00. Key support is seen at 112.80\/85, while the big resistance area to watch remains 114.80-115.00.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\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","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.60 %, Shanghai Composite gained 0.10 %, Hang Seng rallied 0.80 %, ASX 200 rose 0.50 % Commodities: Gold at $1173 (-0.30 %), Silver at $16.85 (-0.30 %), WTI Oil at $51.35 (-0.85 %), Brent Oil at $54.60 (-0.65 %) Rates: US 10-year yield at 2.40, UK 10-year &hellip; <a href=\"https:\/\/ic-ch-asia.com\/blog\/tuesday-6th-december-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 6th 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-19157","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\/19157","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=19157"}],"version-history":[{"count":2,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/19157\/revisions"}],"predecessor-version":[{"id":19159,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/posts\/19157\/revisions\/19159"}],"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=19157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=19157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-ch-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=19157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}