{"id":14208,"date":"2015-07-28T05:19:17","date_gmt":"2015-07-28T05:19:17","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=14208"},"modified":"2015-07-28T05:19:17","modified_gmt":"2015-07-28T05:19:17","slug":"tuesday-28th-july-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/tuesday-28th-july-european-open-briefing\/","title":{"rendered":"Tuesday 28th 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 0.20 %, Shanghai Composite fell 1.00 %, Hang Seng rose 1.60 %, ASX gained 0.05 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1095 (-0.20 %), Silver at $14.59 (-0.10 %), WTI Oil at $47.28 (-0.30 %), Brent Oil at $53.18 (+0.60 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.25, UK 10 year yield at 1.94, German 10 year yield at 0.70\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tChina shares gyrate as Beijing scrambles to calm markets &#8211; RTRS\n\t<\/li>\n<li>\n\t\tAsian stocks hit three-week lows as China gloom spreads &#8211; RTRS\n\t<\/li>\n<li>\n\t\tYen stands tall with Fed, China in focus &#8211; RTRS\n\t<\/li>\n<li>\n\t\tOil slides to lowest level in four months &#8211; FT\n\t<\/li>\n<li>\n\t\tOil Extends Decline in Bear Market Amid Signs Glut Will Persist &#8211; BBG\n\t<\/li>\n<li>\n\t\tEurope Shares Post Biggest Five-Day Drop This Year &#8211; BBG\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tIt was a relatively quiet overnight session, with no notable data releases or other events. The focus was on the Shanghai Composite, which yesterday had its biggest down day since 2007, dropping 8.5 %. The index had another weak opening, but managed to bounce and is now down only 1 % on the day.\n<\/p>\n<p>\n\tThe move in the Shanghai Composite helped to boost risk appetite and supported the Aussie Dollar. AUD\/USD rose from a low of 0.7256 to a high of 0.7320. Next notable resistance lies at 0.7326. A break above that level would pave the way for a test of the 0.74 level. USD\/JPY is resilient, with the 123.00 support level still intact. The pair rallied to a high of 123.60 overnight. Intraday resistance lies at 124.00, with 124.40\/50 still being the significant resistance area in the short-term.\n<\/p>\n<p>\n\tLooking ahead, the main event of the day will be the UK GDP release at 0930 BST. The market is expecting a 0.7 % print quarter-on-quarter and 2.6 % year-on-year.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t08:30 BST &#8211; Swedish Retail Sales\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK GDP\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; Canadian RMPI\n\t<\/li>\n<li>\n\t\t13:55 BST &#8211; US Redbook\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 CB Consumer Confidence\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US Richmond Manufacturing Index\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.20 %, Shanghai Composite fell 1.00 %, Hang Seng rose 1.60 %, ASX gained 0.05 % Commodities: Gold at $1095 (-0.20 %), Silver at $14.59 (-0.10 %), WTI Oil at $47.28 (-0.30 %), Brent Oil at $53.18 (+0.60 %) Rates: US 10 year yield at 2.25, UK 10 &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/tuesday-28th-july-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 28th 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-14208","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\/14208","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=14208"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/14208\/revisions"}],"predecessor-version":[{"id":14209,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/14208\/revisions\/14209"}],"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=14208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=14208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=14208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}