{"id":12301,"date":"2015-04-10T05:35:37","date_gmt":"2015-04-10T05:35:37","guid":{"rendered":"http:\/\/www.icmarkets.com\/?p=12301"},"modified":"2015-05-20T08:29:02","modified_gmt":"2015-05-20T08:29:02","slug":"friday-10th-april-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/friday-10th-april-european-open-briefing\/","title":{"rendered":"Friday 10th April: 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 0.15 %, Shanghai Composite gained 1.40 %, Hang Seng and ASX both rose 0.50 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1197 (+0.30 %), Silver at $16.30 (+0.75 %), WTI Oil at $50.81 (+0.05 %), Brent Oil at $56.88 (+0.40 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.954, UK 10 year yield at 1.587, German 10 year yield at 0.164\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>News &amp; Data:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\tChina CPI -0.5 % m\/m, Expected: -0.6 %, Previous: 1.2 %\n\t<\/li>\n<li>\n\t\tChina CPI 1.4 % y\/y, Expected: 1.3 %, Previous: 1.4 %\n\t<\/li>\n<li>\n\t\tChina PPI -4.6 % y\/y, Expected: -4.8 %, Previous: -4.8 %\n\t<\/li>\n<li>\n\t\tAustralia Home Loans 1.2 % m\/m, Expected: 3.0 %, Previous: -1.7 %\n\t<\/li>\n<li>\n\t\tJapan Bank Lending 2.6 % y\/y, Previous: 2.5 %\n\t<\/li>\n<li>\n\t\tUS Treasury Semi-Annual FX Report: Urges Euro Area To Use Fiscal Policy To Boost Demand\n\t<\/li>\n<li>\n\t\tTreasury: Calls For More Yuan Strengthening In Medium-Term; China Needs To `Durably&#39; Curb FX Intervention\n\t<\/li>\n<li>\n\t\tNew Zealand FinMin English: Less Likely New Zealand Will Post 2014-15 Budget Surplus &#8212; BBG\n\t<\/li>\n<li>\n\t\tNikkei 225 Prints Above 20,000 Briefly In Early Trade\n\t<\/li>\n<li>\n\t\tHKMA Intervenes To Defend Hong Kong&#39;s Dollar Peg, Sells HKD 3.1bln\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>Markets Update:<\/strong>\n<\/p>\n<p>\n\tThe Euro and British Pound recovered slightly overnight after another +100 pips down day. EUR\/USD reached a low of 1.0638 and while there is minor tech support at 1.0610 and 1.0550, a test of the current 2015 low at 1.0460 seems imminent. GBP\/USD is just 80 pips away from the yearly low at 1.4632. Traders are now waiting for the UK Industrial &amp; Manufacturing Production data at 0930 local time and a bad print could push the pair towards the aforementioned support level. Meanwhile, EUR\/GBP bounced off the 0.7220 support level, but is struggling to make further gains. Given the weakness of both currencies, further consolidation seems likely.\n<\/p>\n<p>\n\tUSD\/JPY extended gains overnight, supported by broad USD strength and rising equities. Next major resistance eyed at 121.20 and then 122.00. AUD and NZD remain well bid overall, but there has not been a lot of activity in the pairs given the lack of data from those countries this week.\n<\/p>\n<p>\n\tLooking ahead, the focus in the European session will be on the UK data. Later in the day, we&rsquo;ll get Canadian employment data and Fed&rsquo;s Kocherlakota will be speaking.\n<\/p>\n<p>\n\t<strong>Upcoming Events:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\t06:45 BST &#8211; Swiss Unemployment Rate (3.2 %)\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; Norwegian CPI (0.4 % m\/m, 2.1 % y\/y)\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; Norwegian Core CPI (0.4 % m\/m, 2.3 % y\/y)\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Industrial Production (0.3 % m\/m, 0.4 % y\/y)\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Manufacturing Production (0.4 % m\/m, 1.3 % y\/y)\n\t<\/li>\n<li>\n\t\t13:15 BST &#8211; Canadian Housing Starts (175k)\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; Canadian Employment Change (-0.1k)\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; Canadian Unemployment Rate (7.0 %)\n\t<\/li>\n<li>\n\t\t17:20 BST &#8211; FOMC Member Kocherlakota speaks\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.15 %, Shanghai Composite gained 1.40 %, Hang Seng and ASX both rose 0.50 % Commodities: Gold at $1197 (+0.30 %), Silver at $16.30 (+0.75 %), WTI Oil at $50.81 (+0.05 %), Brent Oil at $56.88 (+0.40 %) Rates: US 10 year yield at 1.954, UK 10 year &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/friday-10th-april-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Friday 10th 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-12301","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\/12301","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=12301"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/12301\/revisions"}],"predecessor-version":[{"id":13114,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/12301\/revisions\/13114"}],"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=12301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=12301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=12301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}