{"id":11333,"date":"2015-01-26T06:24:41","date_gmt":"2015-01-26T06:24:41","guid":{"rendered":"http:\/\/www.icmarkets.com\/?p=11333"},"modified":"2015-02-01T17:46:11","modified_gmt":"2015-02-01T17:46:11","slug":"monday-26th-january-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/monday-26th-january-european-open-briefing\/","title":{"rendered":"Monday 26th 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 0.25 %, Shanghai Composite gained 0.20 %, Hang Seng dropped 0.20 %, ASX is closed\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1292 (-0.10 %), Silver at $18.25 (-0.30 %), WTI OIl at $44.98 (-1.30 %), Brent Oil at $48.28 (-0.75 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.76, UK 10 year yield at 1.478, German 10 year yield at 0.367\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>News &amp; Data:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\tJapan Adjusted Trade Balance -&yen;0.71trln, Expected: -&yen;0.74trln, Previous: -&yen;0.83trln\n\t<\/li>\n<li>\n\t\tJapan Trade Balance -&yen;661bln, Expected: -&yen;740bln, Previous: -&yen;892bln\n\t<\/li>\n<li>\n\t\tJapan Exports 12.9 %, Expected: 11.0 %, Previous: 4.9 %\n\t<\/li>\n<li>\n\t\tJapan Imports 1.9 %, Expected: 2.3 %, Previous: -1.7 %\n\t<\/li>\n<li>\n\t\tNew Zealand Performance Services Index 56.6, Previous: 54.8\n\t<\/li>\n<li>\n\t\tBank of Japan Minutes: BOJ to keep easing till 2% inflation stable&nbsp;\n\t<\/li>\n<li>\n\t\tBOJ Minutes: Economy has continued to recover moderately\n\t<\/li>\n<li>\n\t\tBOJ Minutes: Inflation expectations key to future monetary policy\n\t<\/li>\n<li>\n\t\tBOJ Minutes: Weak oil prices to raise CPI in longer term\n\t<\/li>\n<li>\n\t\tEuro Falls to Lowest Since 2003 on Syriza Victory; Krone Slides (BBG)\n\t<\/li>\n<li>\n\t\tEuro Slips With U.S. Futures on Greece as Treasuries Gain (BBG)\n\t<\/li>\n<li>\n\t\tOil Slides to Near 6-Year Low; Saudi Arabia Holds Firm Despite Supply Glut (BBG)\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>CFTC Positioning Data:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\tEUR net short 181K vs 168K net short prior\n\t<\/li>\n<li>\n\t\tJPY net short 78K vs 94K net short prior\n\t<\/li>\n<li>\n\t\tGBP net short 46K vs net short 37K prior\n\t<\/li>\n<li>\n\t\tAUD net short 47K vs net short 45K prior\n\t<\/li>\n<li>\n\t\tCAD net short 29K vs net short 21K prior\n\t<\/li>\n<li>\n\t\tCHF net short 10K vs net short 26K prior\n\t<\/li>\n<li>\n\t\tNZD net short 2k vs net short 2k prior\n\t<\/li>\n<li>\n\t\tGold net long 162K vs net long 130K prior\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>Markets Update:<\/strong>\n<\/p>\n<p>\n\tThe Euro fell at the Asian open after Greece elected the far-left party Syriza which opposes the austerity reforms introduced three years ago. EUR\/USD bounced from there and is almost back above 1.12, but sentiment is likely to remain EUR-negative over the coming days given the political tensions. The pivotal resistance area is now noted at 1.1280-1.13 and it would require a break &amp; close above to trigger a larger short squeeze. To the downside, 1.11 now the pivotal support level and not much until 1.10 should we break lower.\n<\/p>\n<p>\n\tThe commodity currencies remained weak overnight and Oil declined again to fresh lows. Meanwhile, USD\/JPY continues to consolidate in it&#39;s 117-119 range. The Yen is likely to benefit from the current risk-off sentiment and the stops resting sub-116.90 look increasingly vulnerable.\n<\/p>\n<p>\n\tLooking ahead, the main event of the day will be the German IFOs release at 09:00 GMT, with no major data releases scheduled for the US session. See below for a list of the main events in the new trading week.\n<\/p>\n<p>\n\t<strong>Upcoming Events:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\t08:00 GMT &#8211; Spanish PPI (-1.2 % y\/y)\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; German IFO Business Climate (106.3)\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; German IFO Business Expectations (102.5)\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; German IFO Current Assessment (110.7)\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>Weekly Data Preview:<\/strong>\n<\/p>\n<p>\n\t<u>Tuesday, January 26th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t09:30 GMT &#8211; UK GDP (0.6 % q\/q, 2.8 % y\/y)\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Durable Goods Orders (0.5 %)\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; US New Home Sales (2.7 %)\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; US CB Consumer Confidence (95.0)\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Wednesday, January 28th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:30 GMT &#8211; Australian CPI (0.3 % q\/q, 1.8 % y\/y)\n\t<\/li>\n<li>\n\t\t19:00 GMT &#8211; FOMC Statement\n\t<\/li>\n<li>\n\t\t20:00 GMT &#8211; New Zealand Interest Rate Decision (3.50 %)\n\t<\/li>\n<li>\n\t\t20:00 GMT &#8211; RBNZ Statement\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Thursday, January 29th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t08:55 GMT &#8211; German Unemployment Change &amp; Rate\n\t<\/li>\n<li>\n\t\t13:00 GMT &#8211; German CPI (-0.8 % m\/m, -0.1 % y\/y)\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Initial Jobless Claims (300k)\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; US Pending Home Sales (0.5 %)\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Friday, January 30th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone CPI (-0.5 % y\/y)\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone Unemploymnt Rate (11.5 %)\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US GDP (3.1 % q\/q)\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; Canadian GDP (-0.1 % m\/m)\n\t<\/li>\n<\/ul>\n<p>\n\t&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.25 %, Shanghai Composite gained 0.20 %, Hang Seng dropped 0.20 %, ASX is closed Commodities: Gold at $1292 (-0.10 %), Silver at $18.25 (-0.30 %), WTI OIl at $44.98 (-1.30 %), Brent Oil at $48.28 (-0.75 %) Rates: US 10 year yield at 1.76, UK 10 year &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/monday-26th-january-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 26th 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-11333","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\/11333","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=11333"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/11333\/revisions"}],"predecessor-version":[{"id":11408,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/11333\/revisions\/11408"}],"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=11333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=11333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=11333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}