{"id":14101,"date":"2015-07-16T05:00:13","date_gmt":"2015-07-16T05:00:13","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=14101"},"modified":"2015-07-16T09:32:27","modified_gmt":"2015-07-16T09:32:27","slug":"thursday-16th-july-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/thursday-16th-july-european-open-briefing\/","title":{"rendered":"Thursday 16th July: European Open Briefing"},"content":{"rendered":"<h4>\n\t<strong>Global Markets:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAsian stock markets: Nikkei up 0.50 %, Shanghai Composite gained 1.00 %, Hang Seng unchanged, ASX rose 0.40 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1146 (-0.10 %), Silver at $15.06 (+0.10 %), WTI Oil at $52.00 (+1.10 %), Brent Oil at $57.65 (+0.50 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.37, UK 10 year yield at 2.11, German 10 year yield at 0.7\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tNew Zealand CPI 0.4 % q\/q, Expected: 0.6 %, Previous: -0.3 %\n\t<\/li>\n<li>\n\t\tNew Zealand CPI 0.3 % y\/y, Expected: 0.4 %, Previous: 0.1 %\n\t<\/li>\n<li>\n\t\tNew Zealand Business PMI 55.2, Previous: 51.5\n\t<\/li>\n<li>\n\t\tAustralia MI INflation Expectations 3.4 %, Previous: 3.0 %\n\t<\/li>\n<li>\n\t\tAsian Development Bank lowers China growth forecast to 7.0% in 2015, 6.8% in 2016\n\t<\/li>\n<li>\n\t\tBoJ Ex Deputy Gov Nishimura: Japan CPI underestimates inflation; BoJ risks sparking upward spiral in inflation: BBG\n\t<\/li>\n<li>\n\t\tGreek parliament approves bailout measures as Syriza fragments &#8211; RTRS\n\t<\/li>\n<li>\n\t\tOil prices rise after U.S. stock draw, but outlook still bearish &#8211; RTRS\n\t<\/li>\n<li>\n\t\tAsia shares tip-toe higher as China stocks rise, dollar up on Yellen\n\t<\/li>\n<li>\n\t\tTreasuries Weaken With Euro After Greek Vote; Asia Stocks Climb &#8211; BBG\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tOvernight, NZD had the largest move in the FX market, losing 1.20 % against the US Dollar. New Zealand inflation data arrived lower than expected, adding to the already very bearish sentiment. The pair reached a low of 0.6506 and the next major support level lies now at 0.62.\n<\/p>\n<p>\n\tThe Canadian Dollar extended losses yesterday after the Bank of Canada unexpectedly cut rates by 25bps. The central bank also lowered its GDP and inflation forecasts. USD\/CAD reached a high of 1.2960 yesterday and a break above 1.30 seems just as a matter of time. Good support seen at 1.2830, which will likely attract decent buying interest, should we reach it.\n<\/p>\n<p>\n\tUSD\/JPY is trading again near 124.00 as the USD is recovering. Decent resistance seen at 124.35\/40, but then not much until 125.00.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t08:15 BST &#8211; Swiss Retail Sales\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; Italian Trade Balance\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone CPI\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone Trade Balance\n\t<\/li>\n<li>\n\t\t12:45 BST &#8211; ECB Interest Rate Decision\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Initial Jobless Claims\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; ECB Press Conference\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; Fed Chair Yellen speaks\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US Philly Fed Manufacturing Index\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US NAHB Housing Market Index\n\t<\/li>\n<\/ul>\n<ul>\n<li>\n\t\t19:00 BST &#8211; Bank of England Governor Carney speaks\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.50 %, Shanghai Composite gained 1.00 %, Hang Seng unchanged, ASX rose 0.40 % Commodities: Gold at $1146 (-0.10 %), Silver at $15.06 (+0.10 %), WTI Oil at $52.00 (+1.10 %), Brent Oil at $57.65 (+0.50 %) Rates: US 10 year yield at 2.37, UK 10 year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/thursday-16th-july-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Thursday 16th July: 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-14101","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\/14101","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=14101"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/14101\/revisions"}],"predecessor-version":[{"id":14102,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/14101\/revisions\/14102"}],"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=14101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=14101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=14101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}