{"id":14272,"date":"2015-08-05T04:57:30","date_gmt":"2015-08-05T04:57:30","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=14272"},"modified":"2015-08-05T04:58:17","modified_gmt":"2015-08-05T04:58:17","slug":"wednesday-5th-august-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/wednesday-5th-august-european-open-briefing\/","title":{"rendered":"Wednesday 5th August: 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 fell 1.30 %, Hang Seng gained 0.20 %, ASX declined 0.55 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1086 (-0.45 %), Silver at $14.51 (-0.30 %), WTI Oil at $46.05 (+0.70 %), Brent Oil at $50.38 (+0.35 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.25, UK 10 year yield at 1.88, German 10 year yield at 0.65\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 Unemployment Rate (Q2): 5.9% (exp 5.9% prev 5.8%)\n\t<\/li>\n<li>\n\t\tNew Zealand Employment Change (QoQ) Q2: 0.3% (exp 0.5% prev 0.7%)\n\t<\/li>\n<li>\n\t\tNew Zealand Employment Change (YoY) Q2: 3.0% (exp 3.4% prev 3.2%)\n\t<\/li>\n<li>\n\t\tChina Caixin Services PMI (Jul): 53.8 (exp 52.2 prev 51.8)\n\t<\/li>\n<li>\n\t\tChina Caixin Composite PMI (Jul): 50.2 (prev 50.6)\n\t<\/li>\n<li>\n\t\tJapan Nikkei Services PMI (Jul): 51.2 (prev 51.8)\n\t<\/li>\n<li>\n\t\tJapan Nikkei Composite PMI (Jul): 51.5 (prev 51.5)\n\t<\/li>\n<li>\n\t\tAustralia AiG PSI (Jul): 54.1 (prev 51.2)\n\t<\/li>\n<li>\n\t\tJapan PM Adviser Honda Sees No Need For BOJ Easing &#8212; RTRS\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe US Dollar strengthened sharply in yesterday&rsquo;s late NY session, pushing USD\/CAD to a fresh multi-year high at 1.32 and EUR\/USD back below 1.09. There were no apparent reasons, so the move seems flow-driven. With the 1.0865 support level broken as well, the next significant support level in EUR\/USD lies now at 1.0805. A break below could accelerate downside momentum and target a move to 1.0650. USD\/JPY is still struggling with heavy resistance at 124.50\/55. While a breakout seems increasingly likely, gains will probably be limited ahead of the key NFP release. Above 124.50, the key levels are 125.00 and then 125.50\/80.\n<\/p>\n<p>\n\tAUD\/USD gave up some of the gains it made yesterday, reaching a low of 0.7350 in the Asian session. Trendline support from the broken descending channel lies around 0.7340. NZD\/USD fell after disappointing employment data, but the 0.65 level is still holding so far. There is talk of large stops resting sub-0.65, which should accelerate downside momentum if the level gets broken.<a name=\"_GoBack\"><\/a>\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t08:15 BST &#8211; Swiss CPI\n\t<\/li>\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\t09:00 BST &#8211; Italian Industrial Production\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\t13:15 BST &#8211; US ADP Nonfarm Employment Change\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; Canadian Trade Balance\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 Non-Manufacturing PMI\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.50 %, Shanghai Composite fell 1.30 %, Hang Seng gained 0.20 %, ASX declined 0.55 % Commodities: Gold at $1086 (-0.45 %), Silver at $14.51 (-0.30 %), WTI Oil at $46.05 (+0.70 %), Brent Oil at $50.38 (+0.35 %) Rates: US 10 year yield at 2.25, UK 10 &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/wednesday-5th-august-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 5th August: 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-14272","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\/14272","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=14272"}],"version-history":[{"count":2,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/14272\/revisions"}],"predecessor-version":[{"id":14274,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/14272\/revisions\/14274"}],"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=14272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=14272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=14272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}