{"id":11486,"date":"2015-02-09T05:04:00","date_gmt":"2015-02-09T05:04:00","guid":{"rendered":"http:\/\/www.icmarkets.com\/?p=11486"},"modified":"2015-03-19T04:28:19","modified_gmt":"2015-03-19T04:28:19","slug":"monday-9th-february-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/monday-9th-february-european-open-briefing\/","title":{"rendered":"Monday 9th February: European Open Briefing"},"content":{"rendered":"<p>\n\t<strong>Global Markets:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\tAsian stock markets: Nikkei up 0.30 %, Shanghai Composite gained 0.30 %, Hang Seng and ASX both declined 0.45 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1237 (+0.20 %), Silver at $16.73 (+0.20 %), WTI Oil at $52.26 (+1.10 %), Brent Oil at $58.98 (+0.50 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.927, UK 10 year yield at 1.647, German 10 year yield at 0.373\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>News &amp; Data:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\tJapan Current Account &yen;0.19trln, Expected: &yen;0.36trln, Previous: &yen;0.43trln\n\t<\/li>\n<li>\n\t\tJapan Adjusted Current Account &yen;0.98trln, Expected: &yen;0.95trln, Previous: &yen;0.91trln\n\t<\/li>\n<li>\n\t\tChina Trade Balance CNY60bln, Expected: CNY48.9bln, Previous: CNY49.6bln\n\t<\/li>\n<li>\n\t\tChina Exports -3.3 %, Expected: +6.3 %, Previous: 9.7 %\n\t<\/li>\n<li>\n\t\tChina Imports -19.9 %, Expected: -3.0 %, Previous: -2.4 %\n\t<\/li>\n<li>\n\t\tBank of Japan&#39;s Morimoto: Stimulus effect of Oct 31 easing is limited\n\t<\/li>\n<li>\n\t\tMorimoto: Watch output gap, wages to see price trend\n\t<\/li>\n<li>\n\t\tMorimoto: Need to monitor total, core, core-core CPI\n\t<\/li>\n<li>\n\t\tMorimoto: Somewhat worried about weak consumer sentiment\n\t<\/li>\n<li>\n\t\tGreek PM Tsipras: Austerity will make Greece debt problem worse\n\t<\/li>\n<li>\n\t\tTsipras: Will present medium term plan in line with EU rules\n\t<\/li>\n<li>\n\t\tTsipras: Greece wants new bridge agreement until June\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 196K vs net short 185K prior\n\t<\/li>\n<li>\n\t\tJPY net short 60K vs net short 64k prior\n\t<\/li>\n<li>\n\t\tGBP net short 42K vs net short 45K prior\n\t<\/li>\n<li>\n\t\tAUD net short 56K vs net short 49K prior\n\t<\/li>\n<li>\n\t\tCAD net short 27K vs net short 24K prior\n\t<\/li>\n<li>\n\t\tCHF net short 5K vs net short 7K prior\n\t<\/li>\n<li>\n\t\tNZD net short 4k vs net short 4k prior\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>Markets Update:<\/strong>\n<\/p>\n<p>\n\tEUR\/USD opened slightly lower on Sunday, after comments from the Greece Prime Minister Tsipras. The market does not seem to be too much concerned about a possible Greece exit from the Eurozone as of now, but it will remain a key theme in the coming weeks. EUR\/USD recovered after the Tokyo open and almost reached a high of 1.1340 earlier. Intraday resistance noted at 1.1360, while support now eyed at 1.1275 (Jan 30<sup>th<\/sup> low). Similar price action in GBP\/USD, which rose to 1.5260 after opening around 1.5220 on Sunday. There has been decent upside momentum in the pair until the NFP release on Friday put a stop to it. 1.5150 is now the pivotal support area to keep an eye on. A break below would suggest that the downtrend is resuming, with 1.4950 the next target. On the other side, 1.5340\/50 is the next major hurdle for GBP bulls. USD\/JPY fell back below 119 overnight, amid profit-taking and selling from Japanese corporations. After the strong US employment data, the pair is a buy-on-dip and good support can be expected at 118.20 and towards the 118.00 level.\n<\/p>\n<p>\n\t<strong>Upcoming Events:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\t07:00 GMT &#8211; German Trade Balance (&euro;18.3bln, -0.4 % m\/m)\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; Euro Zone Sentix Investor Confidence (3.0)\n\t<\/li>\n<li>\n\t\t13:15 GMT &#8211; Canada Housing Starts (178k)\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>The Week Ahead (Key Events &amp; Data):<\/strong>\n<\/p>\n<h3>\n\t<u>Tuesday, February 10<\/u><br \/>\n<\/h3>\n<ul>\n<li>\n\t\t01:30 GMT &#8211; China CPI\n\t<\/li>\n<li>\n\t\t08:15 GMT &#8211; Swiss CPI\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Industrial &amp; Manufacturing Production\n\t<\/li>\n<\/ul>\n<h3>\n\t<u>Wednesday, February 11<\/u><br \/>\n<\/h3>\n<ul>\n<li>\n\t\t00:30 GMT &#8211; Australian Home Loans\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; Norway GDP\n\t<\/li>\n<\/ul>\n<h3>\n\t<u>Thursday, February 12<\/u><br \/>\n<\/h3>\n<ul>\n<li>\n\t\t00:30 GMT &#8211; Australian Employment Change\n\t<\/li>\n<li>\n\t\t00:30 GMT &#8211; Australian Unemployment Rate\n\t<\/li>\n<li>\n\t\t07:00 GMT &#8211; German CPI\n\t<\/li>\n<li>\n\t\t10:30 GMT &#8211; Bank of England Inflation Report\n\t<\/li>\n<li>\n\t\t10:30 GMT &#8211; Bank of England Governor Carney speaks\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Retail Sales\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Initial Jobless Claims\n\t<\/li>\n<li>\n\t\t22:30 GMT &#8211; RBA Governor Stevens speaks\n\t<\/li>\n<\/ul>\n<h3>\n\t<u>Friday, February 13<\/u><br \/>\n<\/h3>\n<ul>\n<li>\n\t\t07:00 GMT &#8211; German GDP\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone GDP\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.30 %, Shanghai Composite gained 0.30 %, Hang Seng and ASX both declined 0.45 % Commodities: Gold at $1237 (+0.20 %), Silver at $16.73 (+0.20 %), WTI Oil at $52.26 (+1.10 %), Brent Oil at $58.98 (+0.50 %) Rates: US 10 year yield at 1.927, UK 10 year &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/monday-9th-february-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 9th February: European Open Briefing<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":12469,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-11486","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\/11486","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=11486"}],"version-history":[{"count":2,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/11486\/revisions"}],"predecessor-version":[{"id":12871,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/11486\/revisions\/12871"}],"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=11486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=11486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=11486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}