{"id":13308,"date":"2015-05-26T05:04:02","date_gmt":"2015-05-26T05:04:02","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=13308"},"modified":"2015-05-26T05:05:08","modified_gmt":"2015-05-26T05:05:08","slug":"tuesday-26th-may-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/tuesday-26th-may-european-open-briefing\/","title":{"rendered":"Tuesday 26th May: 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 0.05 %, Shanghai Composite gained 1.65 %, Hang Seng rose 1.50 %, ASX 0.90 % higher\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1205 (+0.02 %), Silver at $17.05 (+0.02 %), WTI Oil at $59.78 (+0.10 %), Brent oil at $65.48 (-0.60 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.193, UK 10 year yield at 1.941, German 10 year yield at 0.608\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>News &amp; Data:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\tNew Zealand Trade Balance -NZ$2.62bln y\/y, Expected: -NZ$2.79bln, Previous: -NZ$2.41bln\n\t<\/li>\n<li>\n\t\tNew Zealand Trade Balance NZ$123mln m\/m, Expected: NZ$100mln, Previous: NZ$754mln\n\t<\/li>\n<li>\n\t\tNew Zealand Exports NZ$4.17bln, Expected: NZ$4.20bln, Previ<a name=\"_GoBack\"><\/a>ous: NZ$4.92bln\n\t<\/li>\n<li>\n\t\tNew Zealand Imports NZ$4.04bln, Expected: NZ$4.10bln, Previous: N$4.16bln\n\t<\/li>\n<li>\n\t\tSingapore GDP 3.2 % q\/q, Expected: 1.8 %, Previous: 1.1 %\n\t<\/li>\n<li>\n\t\tSingapore GDP 2.6 % y\/y, Expected: 2.2 %, Previous: 2.1 %\n\t<\/li>\n<li>\n\t\tYen&rsquo;s Resilience Causes Investors to Shift Bets &#8211; WSJ\n\t<\/li>\n<li>\n\t\tAsian shares turn higher as China rallies, dollar up &#8211; RTRS\n\t<\/li>\n<li>\n\t\tFed&#39;s Fischer: Too much weight placed on Fed&#39;s first rate hike &#8211; RTRS\n\t<\/li>\n<li>\n\t\tFed&rsquo;s Mester Says &lsquo;Time Is Near&rsquo; for U.S. Interest-Rate Increase&nbsp; &#8211; BBG\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>Markets Update:<\/strong>\n<\/p>\n<p>\n\tThe US Dollar extended gains overnight, still inspired by the higher inflation data last week and the Yellen speech on late Friday. Stops were taken out below 1.0950 in EUR\/USD and the pair remains under significant pressure. Selling interest reported at 1.10 and 1.1050 with stops from short-term specs laying above. Meanwhile, GBP\/USD has nearly retraced all of the post-election gains and is slowly approaching towards the 1.54 level. A clear break below would then pave the way for a 1.51 test. However, we have some significant data releases out of the UK this week, including the GDP release on Friday morning.\n<\/p>\n<p>\n\tUSD\/JPY is gaining momentum after its breakout last week and is heading towards the 122 level. Dealers report that there is a barrier option at that level and option-related supply ahead of it. However, it is unlikely to be a major obstacle and a breakout seems imminent. The commodity currencies remain weak overall, but have performed well overnight. Dealers note solid AUD &amp; NZD demand in the cross pairs, especially EUR\/AUD and EUR\/NZD, which both fell already 150 pips since the Sunday open.\n<\/p>\n<p>\n\t<strong>Upcoming Events:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\t13:30 BST &#8211; US Core Durable Goods Orders\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Durable Goods Orders\n\t<\/li>\n<li>\n\t\t13:55 BST &#8211; US Redbook\n\t<\/li>\n<li>\n\t\t14:00 BST &#8211; US House Price Index\n\t<\/li>\n<li>\n\t\t14:45 BST &#8211; US Services PMI\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US New Home Sales\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US Richmond Manufacturing Index\n\t<\/li>\n<li>\n\t\t17:30 BST &#8211; FOMC Member Stanley Fischer speaks\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.05 %, Shanghai Composite gained 1.65 %, Hang Seng rose 1.50 %, ASX 0.90 % higher Commodities: Gold at $1205 (+0.02 %), Silver at $17.05 (+0.02 %), WTI Oil at $59.78 (+0.10 %), Brent oil at $65.48 (-0.60 %) Rates: US 10 year yield at 2.193, UK 10 &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/tuesday-26th-may-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 26th May: European Open Briefing<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":12469,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13308","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\/13308","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/comments?post=13308"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/13308\/revisions"}],"predecessor-version":[{"id":13309,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/13308\/revisions\/13309"}],"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=13308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=13308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=13308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}