{"id":12352,"date":"2015-04-14T04:02:09","date_gmt":"2015-04-14T04:02:09","guid":{"rendered":"http:\/\/www.icmarkets.com\/?p=12352"},"modified":"2015-05-20T08:28:49","modified_gmt":"2015-05-20T08:28:49","slug":"tuesday-14th-april-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/tuesday-14th-april-european-open-briefing\/","title":{"rendered":"Tuesday 14th 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 down 0.05 %, Shanghai Composite gained 1.65 %, Hang Seng up 1.60 %, ASX declined 0.20 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1205 (+0.05 %), Silver at $16.38 (+0.05 %), WTI Oil at $51.85 (+0.40 %), Brent Oil at $59.05 (+0.15 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 1.935, UK 10 year yield at 1.589, German 10 year yield at 0.149\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>News &amp; Data:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\tNew Zealand Business Confidence 23 %, Previous: 24 %\n\t<\/li>\n<li>\n\t\tUK Retail Sales Monitor 3.2 %, Previous: 0.2 %\n\t<\/li>\n<li>\n\t\tAustralia NAB Business Confidence 3.0, Previous: 0.0\n\t<\/li>\n<li>\n\t\tSingapore MAS Keeps Policy On Hold, Says Current Policy Is Appropriate\n\t<\/li>\n<li>\n\t\tSingapore GDP 1.1 % q\/q, Expected: 0.2 %, Previous: 4.9 %\n\t<\/li>\n<li>\n\t\tSingapore GDP 2.1 % y\/y, Expected: 1.7 %, Previous: 2.1 %\n\t<\/li>\n<li>\n\t\tBank Of Japan Watches For Impact Of Strong Dollar &#8212; Nikkei\n\t<\/li>\n<li>\n\t\tBank of Japan Must Focus More On Employment, Says Top Economic Adviser &#8212; Nikkei\n\t<\/li>\n<li>\n\t\tJapan Economic Minister Amari: Will Leave It To Markets To Decide IF Currency Swings Represent Fundamentals &#8212; RTRS\n\t<\/li>\n<\/ul>\n<p>\n\t&nbsp;\n<\/p>\n<p>\n\t<strong>Markets Update:<\/strong>\n<\/p>\n<p>\n\tThe Japanese Yen strengthened overnight after comments from a top economic adviser to Japanese Prime Minister Abe. Hamada said that the Yen has weakened too much and that an USD\/JPY exchange rate of 105 would be more appropriate. While Japan has benefited a lot from their weakening currency, it is clear that officials are concerned about excessive weakness. However, this has rarely stopped a strong trend. USD\/JPY positioning is much less crowded than it was last year, which should make it easier to push the pair higher once the timing is right.\n<\/p>\n<p>\n\tEUR\/USD is struggling after it failed to sustain momentum above 1.06 yesterday. Offers in good size are reported at 1.0620 and better selling interest is expected in the 1.0670\/80 area. To the downside, intraday support eyed at 1.0520 with option-related demand reported ahead of the 1.05 level. It is unlikely that we will see a larger move ahead of the ECB meeting tomorrow, so further consolidation between 1.05 and 1.0650 seems probable.\n<\/p>\n<p>\n\tThe commodity currencies recovered slightly in the APAC session. The Australian Dollar was boosted by better than expected Business Confidence data, which lifted the Kiwi Dollar as well. AUD\/USD upside is likely to be limited ahead of the Chinese GDP tomorrow and solid resistance is seen at 0.7630\/40.\n<\/p>\n<p>\n\tLooking ahead, we have a good amount of econ data release today. In the EU session, the focus will be on UK inflation data, while in the US session, we&rsquo;ll get US retail sales and PPI data.<a name=\"_GoBack\"><\/a>\n<\/p>\n<p>\n\t<strong>Upcoming Events:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\t07:00 BST &#8211; Swedish Unemployment Rate\n\t<\/li>\n<li>\n\t\t07:00 BST &#8211; German WPI (0.2 % m\/m)\n\t<\/li>\n<li>\n\t\t08:00 BST &#8211; Spanish CPI (0.6 % m\/m, -0.7 y\/y)\n\t<\/li>\n<li>\n\t\t08:00 BST &#8211; Spanish HICP (2.1 % m\/m, -0.7 y\/y)\n\t<\/li>\n<li>\n\t\t08:30 BST &#8211; Swedish CPI (0.2 % m\/m, 0.3 % y\/y)\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; Italian CPI (0.1 % m\/m, -0.1 % y\/y)\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK CPI (0.2 % m\/m, 0.0 % y\/y)\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Core CPI (1.2 % y\/y)\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone Industrial Production (0.3 % m\/m, 0.7 % y\/y)\n\t<\/li>\n<li>\n\t\t13:00 BST &#8211; FOMC Member Kocherlakota speaks\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Core PPI (0.1 % m\/m, 0.9 % y\/y)\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US PPI (0.2 % m\/m, -0.7 % y\/y)\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Retail Sales (1.0 % m\/m)\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US Business Inventories (0.2 % 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 0.05 %, Shanghai Composite gained 1.65 %, Hang Seng up 1.60 %, ASX declined 0.20 % Commodities: Gold at $1205 (+0.05 %), Silver at $16.38 (+0.05 %), WTI Oil at $51.85 (+0.40 %), Brent Oil at $59.05 (+0.15 %) Rates: US 10 year yield at 1.935, UK 10 &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/tuesday-14th-april-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 14th 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-12352","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\/12352","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=12352"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/12352\/revisions"}],"predecessor-version":[{"id":13112,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/12352\/revisions\/13112"}],"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=12352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=12352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=12352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}