{"id":12332,"date":"2015-04-13T05:11:19","date_gmt":"2015-04-13T05:11:19","guid":{"rendered":"http:\/\/www.icmarkets.com\/?p=12332"},"modified":"2015-05-20T08:28:56","modified_gmt":"2015-05-20T08:28:56","slug":"monday-13th-april-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/monday-13th-april-european-open-briefing\/","title":{"rendered":"Monday 13th 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 0.10 %, Shanghai Composite gained 1.50 %, Hang Seng rose 0.75 %, ASX is 0.05 % higher\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1204 (-0.05 %), Silver at $16.38 (-0.05 %), WTI Oil at $51.77 (+0.25 %), Brent Oil at $59.00 (+0.05 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.94, UK 10 year yield at 1.589, German 10 year yield at 0.16\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>News &amp; Data:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\tChina Trade Balance $3.08bln, Expected: $45.35bln, Previous: $60.60bln\n\t<\/li>\n<li>\n\t\tChina Exports -15.0 %, Expected: 12.0 %, Previous: 48.3 %\n\t<\/li>\n<li>\n\t\tChina Imports -12.7 %, Expected: -11.7 %, Previous: 20.5 %\n\t<\/li>\n<li>\n\t\tJapan Core Machinery Orders -0.4 % m\/m, Expected: -2.8 %, Previous: -1.7 %\n\t<\/li>\n<li>\n\t\tJapan Core Machinery Orders 5.9 % y\/y, Expected: 3.7 %, Previous: 1.9 %\n\t<\/li>\n<li>\n\t\tJapan CGPI 0.3 % m\/m, Expected: -0.1 %, Previous: 0.0 %\n\t<\/li>\n<li>\n\t\tJapan CGPI 0.7 % y\/y, Expected: 0.4 %, Previous: 0.5 %\n\t<\/li>\n<li>\n\t\tNew Zealand PM Key: RBNZ Property Tools Better Than Rate Rises &#8212; Radio NZ\n\t<\/li>\n<li>\n\t\tRiksbank Governor Ingves: Will Be Years Before &ldquo;Normal&rdquo; Interest Rates &#8212; Finanzen\n\t<\/li>\n<li>\n\t\tChina Imports From Australia Decline for Record Seventh Month\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>CFTC Positioning Data:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\tEUR shorts 215k vs 227k previously\n\t<\/li>\n<li>\n\t\tGBP shorts 34k vs 36k previously\n\t<\/li>\n<li>\n\t\tJPY shorts 24k vs 24k previously\n\t<\/li>\n<li>\n\t\tAUD shorts 40k vs 24k previously\n\t<\/li>\n<li>\n\t\tCAD shorts 30k vs 29k previously\n\t<\/li>\n<li>\n\t\tCHF longs 120 vs 706 previously\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>Markets Update:<\/strong>\n<\/p>\n<p>\n\tThe US Dollar gained across the board in the Asian session, as Chinese trade data pushed the Aussie and Kiwi Dollar almost 100 pips lower. Chinese imports declined 12.7 %, with imports from Australia declining for the 7th month now. AUD\/USD fell from 0.7665 to a fresh multi-day low at 0.7585, while NZD\/USD dropped from 0.7535 ahead of the data release to 0.7445. There was also position unwinding in last week&rsquo;s popular carry trades &ndash; EUR\/AUD, EUR\/NZD, GBP\/NZD &ndash; and it seems we could see a decent short squeeze in those pairs.\n<\/p>\n<p>\n\t<strong>Upcoming Events:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\t07:45 BST &#8211; French Current Account\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; Italian Industrial Production (0.5 % m\/m, -1.3 % y\/y)\n\t<\/li>\n<li>\n\t\t19:00 BST &#8211; US Federal Budget Balance (-$43bln)\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>The Week Ahead (Key Data Releases\/Events)<\/strong>\n<\/p>\n<p>\n\t<u>Tuesday, April 14th 2015<\/u>\n<\/p>\n<p>\n\t02:30 BST &#8211; Australian NAB Business Confidence\n<\/p>\n<p>\n\t07:00 BST &#8211; Swedish Unemployment Rate\n<\/p>\n<p>\n\t07:00 BST &#8211; German WPI (0.2 % m\/m)\n<\/p>\n<p>\n\t08:00 BST &#8211; Spanish CPI (0.6 % m\/m, -0.7 y\/y)\n<\/p>\n<p>\n\t08:00 BST &#8211; Spanish HICP (2.1 % m\/m, -0.7 y\/y)\n<\/p>\n<p>\n\t08:30 BST &#8211; Swedish CPI (0.2 % m\/m, 0.3 % y\/y)\n<\/p>\n<p>\n\t09:00 BST &#8211; Italian CPI (0.1 % m\/m, -0.1 % y\/y)\n<\/p>\n<p>\n\t<strong>09:30 BST &#8211; UK CPI (0.2 % m\/m, 0.0 % y\/y)<\/strong>\n<\/p>\n<p>\n\t<strong>09:30 BST &#8211; UK Core CPI (1.2 % y\/y)<\/strong>\n<\/p>\n<p>\n\t10:00 BST &#8211; Euro Zone Industrial Production (0.3 % m\/m, 0.7 % y\/y)\n<\/p>\n<p>\n\t13:00 BST &#8211; FOMC Member Kocherlakota speaks\n<\/p>\n<p>\n\t13:30 BST &#8211; US Core PPI (0.1 % m\/m, 0.9 % y\/y)\n<\/p>\n<p>\n\t13:30 BST &#8211; US PPI (0.2 % m\/m, -0.7 % y\/y)\n<\/p>\n<p>\n\t<strong>13:30 BST &#8211; US Retail Sales (1.0 % m\/m)<\/strong>\n<\/p>\n<p>\n\t15:00 BST &#8211; US Business Inventories (0.2 % m\/m)\n<\/p>\n<p>\n\t<u>Wednesday, April 15th 2015<\/u>\n<\/p>\n<p>\n\t<strong>03:00 BST &#8211; Chinese GDP (1.4 % q\/q, 7.0 % y\/y)<\/strong>\n<\/p>\n<p>\n\t<strong>03:00 BST &#8211; Chinese Industrial Production (6.9 % y\/y)<\/strong>\n<\/p>\n<p>\n\t<strong>03:00 BST &#8211; Chinese Retail Sales (10.9 % y\/y)<\/strong>\n<\/p>\n<p>\n\t07:00 BST &#8211; German CPI (0.5 % m\/m, 0.3 % y\/y)\n<\/p>\n<p>\n\t07:00 BST &#8211; German HICP (0.5 % m\/m, 0.1 % y\/y)\n<\/p>\n<p>\n\t<strong>07:15 BST &#8211; Bank of Japan Governor Kuroda speaks<\/strong>\n<\/p>\n<p>\n\t07:45 BST &#8211; French CPI (0.7 % m\/m)\n<\/p>\n<p>\n\t07:45 BST &#8211; French HICP (0.7 % m\/m, 0.0 % y\/y)\n<\/p>\n<p>\n\t10:00 BST &#8211; Euro Zone Trade Balance\n<\/p>\n<p>\n\t<strong>12:45 BST &#8211; ECB Interest Rate Decision (0.05 %)<\/strong>\n<\/p>\n<p>\n\t13:30 BST &#8211; US NY Empire State Manufacturing Index (7.30)\n<\/p>\n<p>\n\t13:30 BST &#8211; Canadian Manufacturing Sales (-0.2 % m\/m)\n<\/p>\n<p>\n\t<strong>13:30 BST &#8211; ECB Press Conference<\/strong>\n<\/p>\n<p>\n\t14:00 BST &#8211; FOMC Member Bullard speaks\n<\/p>\n<p>\n\t14:15 BST &#8211; US Industrial Production (-0.3 % m\/m)\n<\/p>\n<p>\n\t14:15 BST &#8211; US Manufacturing Production (0.1 % m\/m)\n<\/p>\n<p>\n\t15:00 BST &#8211; US NAHB Housing Market Index (55.0)\n<\/p>\n<p>\n\t<strong>15:00 BST &#8211; Bank of Canada Interest Rate Decision (0.75 %)<\/strong>\n<\/p>\n<p>\n\t<strong>15:00 BST &#8211; Bank of Canada Monetary Policy Report<\/strong>\n<\/p>\n<p>\n\t<strong>16:15 BST &#8211; Bank of Canada Governor Poloz speaks<\/strong>\n<\/p>\n<p>\n\t<u>Thursday, April 16th 2015<\/u>\n<\/p>\n<p>\n\t<strong>02:30 BST &#8211; Australian Employment Change (15k)<\/strong>\n<\/p>\n<p>\n\t<strong>02:30 BST &#8211; Australian Unemployment Rate (6.3 %)<\/strong>\n<\/p>\n<p>\n\t08:15 BST &#8211; Swiss PPI (0.1 % m\/m)\n<\/p>\n<p>\n\t09:00 BST &#8211; Italian Trade Balance (&euro;1.21bln)\n<\/p>\n<p>\n\t13:30 BST &#8211; US Building Permits (1.08mln)\n<\/p>\n<p>\n\t13:30 BST &#8211; US Housing Starts (1.04mln)\n<\/p>\n<p>\n\t<strong>13:30 BST &#8211; US Initial Jobless Claims<\/strong>\n<\/p>\n<p>\n\t15:00 BST &#8211; US Philadelphia Fed Manufacturing Index (6.3)\n<\/p>\n<p>\n\t<u>Friday, April 17th 2015<\/u>\n<\/p>\n<p>\n\t08:15 BST &#8211; Swiss Retail Sales\n<\/p>\n<p>\n\t09:00 BST &#8211; Euro Zone Current Account\n<\/p>\n<p>\n\t<strong>09:30 BST &#8211; UK Claimant Count Change (-28k)<\/strong>\n<\/p>\n<p>\n\t<strong>09:30 BST &#8211; UK Unemployment Rate (5.6 %)<\/strong>\n<\/p>\n<p>\n\t<strong>09:30 BST &#8211; UK Average Earnings (1.8 %)<\/strong>\n<\/p>\n<p>\n\t<strong>10:00 BST &#8211; Euro Zone CPI (1.1 % m\/m, -0.1 % y\/y)<\/strong>\n<\/p>\n<p>\n\t<strong>10:00 BST &#8211; Euro Zone Core CPI<\/strong>\n<\/p>\n<p>\n\t<strong>13:30 BST &#8211; US CPI (0.2 % m\/m, 0.1 % y\/y)<\/strong>\n<\/p>\n<p>\n\t<strong>13:30 BST &#8211; US Core CPI (0.2 % m\/m, 1.7 % y\/y)<\/strong>\n<\/p>\n<p>\n\t<strong>13:30 BST &#8211; Canadian CPI (1.0 % m\/m, 1.0 % y\/y)<\/strong>\n<\/p>\n<p>\n\t<strong>13:30 BST &#8211; Canadian Core CPI (2.0 % y\/y)<\/strong>\n<\/p>\n<p>\n\t<strong>13:30 BST &#8211; Canadian Retail Sales (1.0 % m\/m)<\/strong>\n<\/p>\n<p>\n\t15:00 BST &#8211; US Michigan Consumer Expectations (87)\n<\/p>\n<p>\n\t15:00 BST &#8211; US Michigan Consumer Sentiment (94)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.10 %, Shanghai Composite gained 1.50 %, Hang Seng rose 0.75 %, ASX is 0.05 % higher Commodities: Gold at $1204 (-0.05 %), Silver at $16.38 (-0.05 %), WTI Oil at $51.77 (+0.25 %), Brent Oil at $59.00 (+0.05 %) Rates: US 10 year yield at 1.94, UK &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/monday-13th-april-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 13th 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-12332","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\/12332","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=12332"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/12332\/revisions"}],"predecessor-version":[{"id":13113,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/12332\/revisions\/13113"}],"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=12332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=12332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=12332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}