{"id":14301,"date":"2015-08-07T05:28:52","date_gmt":"2015-08-07T05:28:52","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=14301"},"modified":"2015-08-07T05:28:52","modified_gmt":"2015-08-07T05:28:52","slug":"friday-7th-august-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/friday-7th-august-european-open-briefing\/","title":{"rendered":"Friday 7th 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 0.40 %, Shanghai Composite gained 1.90 %, Hang Seng rose 0.90 %, ASX fell 2.00 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1088 (-0.20 %), Silver at $14.66 (-0.10 %), WTI Oil at $44.84 (+0.40 %), Brent Oil at $49.78 (+0.20 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.23, UK 10 year yield at 1.93, German 10 year yield at 0.71\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tBank of Japan Interest Rate 0.10 %, Expected: 0.10 %, Previous: 0.10 %\n\t<\/li>\n<li>\n\t\tAustralia Investment Lending (MoM) Jun: -0.7% (prev rev -3.5%)\n\t<\/li>\n<li>\n\t\tAustralia Home Loans (MoM) Jun: 4.4% (exp 5.0% prev rev -7.3%)\n\t<\/li>\n<li>\n\t\tAustralia AiG PCI (Jul): 47.1 (prev 46.4)\n\t<\/li>\n<li>\n\t\tRBA SoMP: Will Continue To Assess Outlook, Adjust Policy As Needed\n\t<\/li>\n<li>\n\t\tRBA: Reasonable Chance A$ Will Fall When Fed Raises Rates\n\t<\/li>\n<li>\n\t\tRBA: Signs Lower A$ Is Supporting Demand For Domestic Goods\n\t<\/li>\n<li>\n\t\tRBA: Sees 2%-3% Average GDP Growth In 2016 (prev) 2.5%-3.5%\n\t<\/li>\n<li>\n\t\tRBA: Inflation Forecast Revised Up, Seen At 2.5% Next 2 Years\n\t<\/li>\n<li>\n\t\tBank of England&#39;s Broadbent: Foolish For MPC To Predict Timing Of Rate Hike\n\t<\/li>\n<li>\n\t\tBroadbent: Economy Well Into Recovery Process, Not Much Inflationary Pressure At Present, Will Grow\n\t<\/li>\n<li>\n\t\tBroadbent: Must See Balance Of Risks On Inflation Over Target For Hike, No Urgency To Hike Presently\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe Pound fell sharply yesterday after the Bank of England was more dovish than expected. Traders were expecting a 7-2 vote for keeping rates unchanged, but the vote was 8-1, signaling that a rate hike may come later than anticipated. In the press conference, BoE Governor Carney mentioned the Sterling&rsquo;s strength impacting on exports and keeping inflation is check. GBP\/USD reached a low of 1.5465 and has settled around 1.5520 in Asia. The ascending channel support remains intact for now, but a break sub-1.5450 would signal a change in the short-term trend and pave the way for a 1.5330 (early July low) test.\n<\/p>\n<p>\n\tToday&rsquo;s main event will be the NFP release at 13:30 BST. As a September rate hike by the Fed is not ruled out yet, this NFP will be one of most important ones. The market is expecting a 223k print. Anything above 250k would likely lead to a strong USD rally, while any number below 200k would be seen as disappointment.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t06:45 BST &#8211; Swiss Unemployment Rate\n\t<\/li>\n<li>\n\t\t07:00 BST &#8211; German Trade Balance\n\t<\/li>\n<li>\n\t\t07:30 BST &#8211; Bank of Japan Press Conference\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Trade Balance\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US NFP\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Unemployment Rate\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Average Hourly Earnings\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; Canadian Employment Change\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; Canadian Unemployment Rate\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; Canadian Ivey PMI\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.40 %, Shanghai Composite gained 1.90 %, Hang Seng rose 0.90 %, ASX fell 2.00 % Commodities: Gold at $1088 (-0.20 %), Silver at $14.66 (-0.10 %), WTI Oil at $44.84 (+0.40 %), Brent Oil at $49.78 (+0.20 %) Rates: US 10 year yield at 2.23, UK 10 &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/friday-7th-august-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Friday 7th 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-14301","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\/14301","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=14301"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/14301\/revisions"}],"predecessor-version":[{"id":14302,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/14301\/revisions\/14302"}],"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=14301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=14301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=14301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}