{"id":11083,"date":"2015-01-06T06:15:27","date_gmt":"2015-01-06T06:15:27","guid":{"rendered":"http:\/\/www.icmarkets.com\/?p=11083"},"modified":"2015-02-01T17:49:21","modified_gmt":"2015-02-01T17:49:21","slug":"tuesday-6th-january-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/tuesday-6th-january-european-open-briefing\/","title":{"rendered":"Tuesday 6th January: European Open Briefing"},"content":{"rendered":"<p>\n\t<strong>Global Markets:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\tAsian stock markets: Nikkei down 3.00 %, Shanghai Composite lost 1 %, Hang Seng declined 1.70 %, ASX dropped 1.80 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1207 (+0.25 %), Silver at $16.22 (+0.05 %), WTI Oil at $50.20 (+0.30 %), Brent Oil at $53.32 (+0.60 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.02, UK 10 year yield at 1.667, German 10 year yield at 0.512\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>News &amp; Data:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\tAustralia Trade Balance -A$0.925bln, Expected: -A$1.59bln, Previous: -A$0.877bln\n\t<\/li>\n<li>\n\t\tAustralia Exports 1.0 %, Previous: 2.0 %\n\t<\/li>\n<li>\n\t\tAustralia Imports 1.0 %, Previous: -2.0 %\n\t<\/li>\n<li>\n\t\tChina HSBC Services PMI 53.4, Expected: 52.8, Previous: 53.0\n\t<\/li>\n<li>\n\t\tChina Fast-Tracks $1 Trillion in Projects to Spur Growth (BBG)\n\t<\/li>\n<li>\n\t\tAsian Stocks Extend Selloff With Oil Near $50; Yen Climbs (BBG)\n\t<\/li>\n<li>\n\t\tJapan Traders Call 2015 Pivotal Year as Oil, Yen Aid Growth (BBG)\n\t<\/li>\n<li>\n\t\tEuro off to shaky start for 2015, ECB and Greece in focus (RTRS)\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>Markets Update:<\/strong>\n<\/p>\n<p>\n\tIt was a risk-off session with Asian equities lower and the JPY strengthening. Oil prices reached fresh lows yesterday and WTI futures have consolidated around $50.00 in Asia. Meanwhile, precious metals remain relatively steady, with Gold range trading between $1190 and $1210. A breakout above $1215 could add to momentum and target a move to the December high of $1238.\n<\/p>\n<p>\n\tIn FX, USD gave back some of the gains it made yesterday. The weakness in USD\/JPY was as an early sign and the Dollar rally looks overextended in the short-term. EUR\/USD climbed slowly higher in Asia and looks like it could fill the weekend gap to 1.20 soon. Decent selling interest expected above the big figure, while key support now eyed at 1.1860. USD\/JPY failed to break above the 120.80 resistance area for a third time and selling intesified in yesterday&rsquo;s NY session. The pair is currently testing the Dec 30<sup>th<\/sup> support at 118.85 and the next bear target is 117.50.\n<\/p>\n<p>\n\tLooking ahead, we have a number of PMI releases in the upcoming European session, followed by US Factory Orders and the Non-Manufacturing PMI in the NY session.\n<\/p>\n<p>\n\t<strong>Upcoming Events:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\t08:15 GMT &#8211; Spanish Services PMI (52.9)\n\t<\/li>\n<li>\n\t\t08:45 GMT &#8211; Italian Services PMI (52.0)\n\t<\/li>\n<li>\n\t\t08:50 GMT &#8211; French Services PMI (49.8)\n\t<\/li>\n<li>\n\t\t08:55 GMT &#8211; German Services PMI (51.4)\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; Euro Zone Services PMI (51.9)\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Services PMI (58.5)\n\t<\/li>\n<li>\n\t\t14:45 GMT &#8211; US Services PMI (53.8)\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; US Factory Orders (-0.5 %)\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; US ISM Non-Manufacturing PMI (58.0)\n\t<\/li>\n<\/ul>\n<p>\n\t&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 3.00 %, Shanghai Composite lost 1 %, Hang Seng declined 1.70 %, ASX dropped 1.80 % Commodities: Gold at $1207 (+0.25 %), Silver at $16.22 (+0.05 %), WTI Oil at $50.20 (+0.30 %), Brent Oil at $53.32 (+0.60 %) Rates: US 10 year yield at 2.02, UK 10 &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/tuesday-6th-january-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 6th January: European Open Briefing<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":12469,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/11083","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/comments?post=11083"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/11083\/revisions"}],"predecessor-version":[{"id":11423,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/11083\/revisions\/11423"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/12469"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=11083"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=11083"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=11083"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}