{"id":12378,"date":"2015-04-20T04:22:02","date_gmt":"2015-04-20T04:22:02","guid":{"rendered":"http:\/\/www.icmarkets.com\/?p=12378"},"modified":"2015-05-20T08:28:15","modified_gmt":"2015-05-20T08:28:15","slug":"monday-20th-april-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/monday-20th-april-european-open-briefing\/","title":{"rendered":"Monday 20th 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 up 0.20 %, Shanghai Composite gained 1.00 %, Hang Seng rose 0.10 %, ASX declined 0.85 %\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tCommodities: Gold at $1203.60 (+0.05 %), Silver at $16.24 (+0.05 %), WTI Oil at $58.12 (+1.40 %), Brent Oil at $64.20 (+0.70 %)\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tRates: US 10 year yield at 1.871, UK 10 year yield at 1.582, German 10 year yield at 0.072\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\tNew Zealand CPI -0.3 % q\/q, Expected: -0.2 %, Previous: -0.2 %\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tNew Zealand CPI 0.1 % y\/y, Expected: 0.2 %, Previous: 0.8 %\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tJapan Tertiary Industry Activity Index 0.3 %, Expected: -0.6 %, Previous: 0.7 %\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tJapan Reuters Tankan Index 12.0, Previous: 16.0\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tChina makes big cut in bank reserve requirement to fight slowdown\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tECB&rsquo;s Draghi rejects talk of Greek exit\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tChina considers implementing an ECB type credit move to boost liquidity: WSJ\n\t\t<\/p>\n<\/li>\n<\/ul>\n<p>\n\t<strong>CFTC Positioning Data:<\/strong>\n<\/p>\n<ul>\n<li>\n<p>\n\t\t\tEUR net short 212K vs short 215K prior\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tJPY net short 23K vs short 24K prior\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tGBP net short 36K vs short 34K prior\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tAUD net short 42K vs short 29K prior\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tCAD net short 31K vs short 30K prior\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\tCHF net short 0K vs long 0K prior\n\t\t<\/p>\n<\/li>\n<\/ul>\n<p>\n\t<strong>Markets Update:<\/strong>\n<\/p>\n<p>\n\tOver the weekend, China cut the bank reserve requirements. The move was expected, but came a bit earlier than analysts expected. While most of the major currencies slightly weakened against the US Dollar overnight, the Australian Dollar gained on further Chinese stimulus. Immediate resistance seen at 0.7840, but the next major hurdle lies at 0.7940. A clear break above that level could lead to a larger short squeeze above 0.80. Meanwhile, the Kiwi Dollar initially dropped on weaker than expected inflation data, but quickly rebounded and traded higher along with the Aussie Dollar. Next major resistance seen at 0.7890, which is the current yearly high.\n<\/p>\n<p>\n\tLooking ahead, it could be a rather quiet day in FX, given the lack of data\/events. In the European session, the German PPI is the only notable data release. In the US session, there will be no tier 1 or 2 data releases, but BoC Governor Poloz will speak, followed by RBA Governor Stevens later in the day.\n<\/p>\n<p>\n\t<strong>Upcoming Events:<\/strong>\n<\/p>\n<ul>\n<li>\n<p>\n\t\t\t07:00 BST &#8211; German PPI (0.2 % m\/m, -1.6 % y\/y)\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t15:05 BST &#8211; Bank of Canada Governor Poloz speaks\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t17:30 BST &#8211; RBA Governor Stevens speaks\n\t\t<\/p>\n<\/li>\n<\/ul>\n<p>\n\t<strong>The Week Ahead (Key Data Releases\/Events)<\/strong>\n<\/p>\n<p>\n\t<strong>Tuesday, April 21st<\/strong>\n<\/p>\n<ul>\n<li>\n<p>\n\t\t\t02:30 BST &#8211; RBA Meeting Minutes\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t10:00 BST &#8211; German ZEW Economic Sentiment\n\t\t<\/p>\n<\/li>\n<\/ul>\n<p>\n\t<strong>Wednesday, April 22nd<\/strong>\n<\/p>\n<ul>\n<li>\n<p>\n\t\t\t02:30 BST &#8211; Australian CPI\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t09:30 BST &#8211; Bank of England Meeting Minutes\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t15:00 BST &#8211; US Existing Home Sales\n\t\t<\/p>\n<\/li>\n<\/ul>\n<p>\n\t<strong>Thursday, April 23rd<\/strong>\n<\/p>\n<ul>\n<li>\n<p>\n\t\t\t02:45 BST &#8211; China HSBC Manufacturing PMI\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t08:30 BST &#8211; German Manufacturing PMI\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t08:30 BST &#8211; German Services PMI\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t09:00 BST &#8211; Euro Zone Manufacturing PMI\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t09:00 BST &#8211; Euro Zone Services PMI\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t09:30 BST &#8211; UK Retail Sales\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t13:30 BST &#8211; US Initial Jobless Claims\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t14:45 BST &#8211; US Manufacturing PMI\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t15:00 BST &#8211; US New Home Sales\n\t\t<\/p>\n<\/li>\n<\/ul>\n<p>\n\t<strong>Friday, April 24th<\/strong>\n<\/p>\n<ul>\n<li>\n<p>\n\t\t\t09:00 BST &#8211; German IFO Business Climate Index\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t13:30 BST &#8211; US Durable Goods Orders\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t15:30 BST &#8211; Bank of Canada Governor Poloz speaks\n\t\t<\/p>\n<\/li>\n<\/ul>\n<p>\n\t&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.20 %, Shanghai Composite gained 1.00 %, Hang Seng rose 0.10 %, ASX declined 0.85 % Commodities: Gold at $1203.60 (+0.05 %), Silver at $16.24 (+0.05 %), WTI Oil at $58.12 (+1.40 %), Brent Oil at $64.20 (+0.70 %) Rates: US 10 year yield at 1.871, UK 10 &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/monday-20th-april-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 20th 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-12378","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\/12378","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=12378"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/12378\/revisions"}],"predecessor-version":[{"id":13108,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/12378\/revisions\/13108"}],"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=12378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=12378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=12378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}