{"id":12197,"date":"2015-04-01T05:20:32","date_gmt":"2015-04-01T05:20:32","guid":{"rendered":"http:\/\/www.icmarkets.com\/?p=12197"},"modified":"2015-05-20T08:29:52","modified_gmt":"2015-05-20T08:29:52","slug":"wednesday-1st-april-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/wednesday-1st-april-european-open-briefing\/","title":{"rendered":"Wednesday 1st April: European Open Briefing"},"content":{"rendered":"<p>\n\t<strong>Global Markets:<\/strong>\n<\/p>\n<ul>\n<li>\n<p>\n\t\t\tAsian stock markets: Nikkei down 0.70 %, Shanghai Composite gained 1.40 %, Hang Seng rose 0.60 %; ASX declined 0.50 %\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tCommodities: Gold at $1187.80 (+0.40 %), Silver at $16.70 (+0.60 %), WTI Oil at $47.56 (-0.10 %), Brent Oil at $55.13 (-0.15 %)\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tRates: US 10 year yield at 1.928, UK 10 year yield at 1.581, German 10 year yield at 0.184\n\t\t<\/p>\n<\/li>\n<\/ul>\n<p>\n\t<strong>News &amp; Data:<\/strong>\n<\/p>\n<ul>\n<li>\n<p>\n\t\t\tJapan Tankan Large Manufacturers Index 12.0, Expected: 14.0, Previous: 12.0\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tJapan Tankan Large Non-Manufacturers Index 19.0, Expected: 17.0, Previous: 16.0\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tJapan Tankan Big Industry CAPEX -1.2 %, Expected: 0.5 %, Previous: 8.9 %\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tJapan Tankan Big Manufacturing Outlook Index 10.0, Expected: 16.0, Previous: 9.0\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tJapan Manufacturing PMI 50.3, Expected: 50.4, Previous: 50.4\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tAustralia AIG Manufacturing Index 46.3, Previous: 45.4\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tAustralia Building Approvals -3.2 %, Expected: -4.0 %, Previous: 5.9 %\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tChina HSBC Manufacturing PMI 49.6, Expected: 49.3, Previous: 49.2\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tChina Official Manufacturing PMI 50.1, Expected: 49.7, Previous: 49.9\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tChina Official Non-Manufacturing PMI 53.7, Previous: 53.9\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tUS Treasury Secretary Lew: Japan &amp; China Not Showing Problematic FX Intervention &#8212; BBG\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tFed&rsquo;s George: It&#39;s Time For Fed To Talk About Rate Lift-off, Need To Pullback On Some Accommodation &#8212; RTRS\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tFed&rsquo;s George: Not Bothered By Current Level Of Inflation, Expects It To Rise In Next Few years &#8212; RTRS\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tFed&rsquo;s George: Foreign Monetary Policy Should Benefit The Global Economy, Little Worry Over Dollar Strength &#8212; BBG\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tRussian Foreign Minister Lavrov: Envoys Reach Agreement On Main Issues At Iranian Talks &#8212; BBG\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tIranian Agreement To Be Drafted In Coming Days\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tIran&#39;s Zarif: Iran Accord Drafting To Begin Later Today, Have Accomplished Quite A Lot &#8212; BBG\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tNew Zealand FinMin English: NZD May Weaken VS AUD When Australian Economy Picks Up; Strong NZD Is Challenge For New Zealand Exporters\n\t\t<\/p>\n<\/li>\n<\/ul>\n<p>\n\t<strong>Markets Update:<\/strong>\n<\/p>\n<p>\n\tThe US Dollar weakened overnight after rather mixed US economic data yesterday. While Consumer Confidence beat expectations, the Chicago PMI number was very weak, arriving at 46.3 vs 51.0 expected. A sharp decline in the S&amp;P 500 futures at the Asian open also weighed on sentiment and USD\/JPY briefly tested the 119.40 level. Dealers saw some decent USD\/CAD position covering in the past two sessions, driven by the slightly better than expected Canadian GDP number and the bounce in oil prices. Many short-term specs have rushed into buying USD\/CAD in the past few days, so there is still potential for a further squeeze of CAD shorts. 1.2610 is the next key level to watch and a break below will likely push the pair towards the centre of the range around 1.2540.\n<\/p>\n<p>\n\tEUR\/USD sentiment remains negative overall, as worries about Greece are rising again. Offers in decent size expected around the 1.08 level and there is also a big option expiry at that level for today&rsquo;s NY cut (14:00 GMT).\n<\/p>\n<p>\n\t<strong>Upcoming Events (UK Time):<\/strong>\n<\/p>\n<ul>\n<li>\n<p>\n\t\t\t08:15 BST &#8211; Spanish Manufacturing PMI (54.7)\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t08:45 BST &#8211; Italian Manufacturing PMI (52.2)\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t08:50 BST &#8211; French Manufacturing PMI (52.4)\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t08:55 BST &#8211; German Manufacturing PMI (51.9)\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t09:00 BST &#8211; Euro Zone Manufacturing PMI (51.9)\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t09:30 BST &#8211; UK Manufacturing PMI (54.3)\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t13:15 BST &#8211; US ADP Nonfarm Employment Change (225k)\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t14:00 BST &#8211; FOMC Member Williams speaks\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t14:45 BST &#8211; US Markit Manufacturing PMI (51.8)\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t15:00 BST &#8211; US ISM Manufacturing PMI (52.5)\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t15:30 BST &#8211; FOMC Member Lockhart speaks\n\t\t<\/p>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.70 %, Shanghai Composite gained 1.40 %, Hang Seng rose 0.60 %; ASX declined 0.50 % Commodities: Gold at $1187.80 (+0.40 %), Silver at $16.70 (+0.60 %), WTI Oil at $47.56 (-0.10 %), Brent Oil at $55.13 (-0.15 %) Rates: US 10 year yield at 1.928, UK 10 &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/wednesday-1st-april-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 1st April: 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-12197","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\/12197","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=12197"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/12197\/revisions"}],"predecessor-version":[{"id":13120,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/12197\/revisions\/13120"}],"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=12197"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=12197"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=12197"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}