{"id":14390,"date":"2015-08-18T04:57:07","date_gmt":"2015-08-18T04:57:07","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=14390"},"modified":"2015-08-18T04:57:07","modified_gmt":"2015-08-18T04:57:07","slug":"tuesday-18th-august-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/tuesday-18th-august-european-open-briefing\/","title":{"rendered":"Tuesday 18th 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 and Hang Seng both down 0.15 %, Shanghai Composite lost 1.50 %, ASX declined 0.40 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1118.40 (unch), Silver at $15.28 (-0.15 %), WTI Oil at $42.30 (-0.20 %), Brent Oil at $48.60 (-0.10 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.16, UK 10 year yield at 1.82, German 10 year yiled at 0.63\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tRBA Minutes: Economic &amp; Financial Conditions To Inform Policy Stance\n\t<\/li>\n<li>\n\t\tRBA: Domestic Economy Has Been More Positive In Recent Months\n\t<\/li>\n<li>\n\t\tRBA: Further A$ Depreciation To Impart Economic Stimulus\n\t<\/li>\n<li>\n\t\tRBA: Accommodative Monetary Policy Remained Appropriate\n\t<\/li>\n<li>\n\t\tRBA: Non-Mining Investment To Stay Subdued For Some Time\n\t<\/li>\n<li>\n\t\tRBA: Inflation Seen Consistent With Target In Forecast Period\n\t<\/li>\n<li>\n\t\tRBA: Sizeable Market Impact Likely When Fed Raises Rates\n\t<\/li>\n<li>\n\t\tRBA: Downside Risks To China Outlook Have Receded Somewhat\n\t<\/li>\n<li>\n\t\tAustralia New Vehicle Sales -1.3 % (3.9 % prev)\n\t<\/li>\n<li>\n\t\tChina House Prices -3.7 % (-4.9 % prev)\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe RBA released their latest meeting minutes overnight, but there were no surprises. They mentioned that a further depreciation of the Aussie Dollar would support economic stimulus and that accommodative monetary policy remains appropriate for now, in line with previous comments. AUD\/USD rose from 0.7365 to 0.7385 after the minutes, but quickly gave up the gains. The pair is now heading towards 0.7350 as we are approaching the European open.\n<\/p>\n<p>\n\tThe US Dollar is bid across the board this morning. EUR\/USD just broke sub-1.1050; there are reports of sizeable stops through 1.1025, which may attract price. Support is seen at 1.1015 and then 1.0960, while resistance lies now at 1.1120. GBP\/USD is following the Euro lower and currently testing 1.5570 support. A break below would pave the way for a 1.5530 test. The pair also posted a bearish engulfing pattern on the Daily chart at yesterday&rsquo;s close. If you are trading the Pound, keep in mind that we will get UK inflation data at 09:30 BST.<a name=\"_GoBack\"><\/a>\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t09:30 BST &#8211; UK CPI\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Building Permits\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Housing Starts\n\t<\/li>\n<li>\n\t\t13:55 BST &ndash; US Redbook\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei and Hang Seng both down 0.15 %, Shanghai Composite lost 1.50 %, ASX declined 0.40 % Commodities: Gold at $1118.40 (unch), Silver at $15.28 (-0.15 %), WTI Oil at $42.30 (-0.20 %), Brent Oil at $48.60 (-0.10 %) Rates: US 10 year yield at 2.16, UK 10 year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/tuesday-18th-august-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 18th 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-14390","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\/14390","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=14390"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/14390\/revisions"}],"predecessor-version":[{"id":14391,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/14390\/revisions\/14391"}],"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=14390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=14390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=14390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}