{"id":13448,"date":"2015-06-03T05:08:23","date_gmt":"2015-06-03T05:08:23","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=13448"},"modified":"2015-06-03T05:10:55","modified_gmt":"2015-06-03T05:10:55","slug":"wednesday-3rd-june-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/wednesday-3rd-june-european-open-briefing\/","title":{"rendered":"Wednesday 3rd June: European Open Briefing"},"content":{"rendered":"<p>\n\t<strong>Global Markets:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\tAsian stock markets: Nikkei fell 0.30 %, Shanghai Composite declined 1.00 %, Hang Seng gained 0.75 %, ASX dropped 0.90 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1193 (-0.15 %), Silver at $16.76 (-0.25 %), WTI Oil at $60.85 (-0.70 %), Brent Oil at $65.10 (-0.70 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.27, UK 10 year yield at 1.96, German 10 year yield at 0.71<br \/>\n\t\t&nbsp;\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>News &amp; Data:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\tAustralia GDP 0.9 % q\/q, Expected: 0.7 %, Previous: 0.5 %\n\t<\/li>\n<li>\n\t\tAustralia GDP 2.3 % y\/y, Expected: 2.1 %, Previous: 2.5 %\n\t<\/li>\n<li>\n\t\tAustralia AIG Services Index 49.6, Previous: 49.7 %\n\t<\/li>\n<li>\n\t\tChina HSBC Services PMI 53.5, Expected: 53.3, Previous: 52.9\n\t<\/li>\n<li>\n\t\tAustralian Treasurer Hockey: GDP figures are good, solid result for the economy\n\t<\/li>\n<li>\n\t\tBoJ&#39;s Shirai: Low possibility of more BoJ easing at this point; expects CPI to hit 2% end of 2016, move below in 2017\n\t<\/li>\n<li>\n\t\tGreek PM Tspiras to meet with EU&#39;s Juncker in Brussels tomorrow night<br \/>\n\t\t&nbsp;\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>Markets Update:<\/strong>\n<\/p>\n<p>\n\tThe Australian Dollar rallied overnight, gaining another 0.25 % against the US Dollar. GDP numbers beat expectations, which led to further short covering in AUD\/USD and pushed the pair towards 0.7820. A better than expected Chinese services PMI release added to the positive sentiment. Meanwhile, the US Dollar remains weak across the board after a sharp move yesterday that left many traders confused. It all started in the bond markets, where German yields rallied, and then spilled over into the currencies market. EUR\/USD, which reached a low of 1.09 yesterday morning, ended the day near 1.12. The main reasons mentioned were upbeat Euro Zone economic data and optimism on a deal with Greece this week, but it is more likely to be a case of position covering ahead of the ECB.\n<\/p>\n<p>\n\tUSD\/JPY had a sharp reversal after breaching 125 yesterday and the pair has posted a bearish engulfing pattern on the daily. The move does look overextended in the short-term, so a further retracement seems likely. Immediate support seen at 123.60, major support at 122.80\/123.00.<a name=\"_GoBack\"><\/a>\n<\/p>\n<p>\n\t<strong>Upcoming Events:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\t08:15 BST &#8211; Spanish Services PMI\n\t<\/li>\n<li>\n\t\t08:45 BST &#8211; Italian Services PMI\n\t<\/li>\n<li>\n\t\t08:50 BST &#8211; French Services PMI\n\t<\/li>\n<li>\n\t\t08:55 BST &#8211; German Services PMI\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; Euro Zone Services PMI\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Services PMI\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone Retail Sales\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone Unemployment Rate\n\t<\/li>\n<li>\n\t\t12:45 BST &#8211; ECB Rate Decision\n\t<\/li>\n<li>\n\t\t13:15 BST &#8211; US ADP Nonfarm Employment Change\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Trade Balance\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; ECB Press Conference\n\t<\/li>\n<li>\n\t\t14:45 BST &#8211; US Services PMI\n\t<\/li>\n<li>\n\t\t16:00 BST &#8211; US ISM Non-Manufacturing PMI\n\t<\/li>\n<li>\n\t\t19:00 BST &#8211; US Beige Book\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei fell 0.30 %, Shanghai Composite declined 1.00 %, Hang Seng gained 0.75 %, ASX dropped 0.90 % Commodities: Gold at $1193 (-0.15 %), Silver at $16.76 (-0.25 %), WTI Oil at $60.85 (-0.70 %), Brent Oil at $65.10 (-0.70 %) Rates: US 10 year yield at 2.27, UK 10 &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/wednesday-3rd-june-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 3rd June: 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-13448","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\/13448","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=13448"}],"version-history":[{"count":2,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/13448\/revisions"}],"predecessor-version":[{"id":13450,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/13448\/revisions\/13450"}],"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=13448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=13448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=13448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}