{"id":14493,"date":"2015-08-28T03:41:46","date_gmt":"2015-08-28T03:41:46","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=14493"},"modified":"2015-09-01T12:51:18","modified_gmt":"2015-09-01T07:21:18","slug":"friday-28th-august-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/friday-28th-august-european-open-briefing\/","title":{"rendered":"Friday 28th 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 rose 2.56 %, Shanghai Composite rose 1.29%, Hang Seng gained 1.72 %, ASX200 rose 0.50%\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1128.60 (+0.37 %), Silver at $14.48 (+0.44 %), WTI Oil at $43.42(+2.02%), Brent Oil at $48.00 (+0.93 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.18% UK 10 year yield at 1.98%, German 10 year yield at 0.74%<br \/>\n\t\t&nbsp;\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAustralia Private Capital Expenditure (QoQ) Q2: -4.0% (exp -2.5% prev -4.4%)\n\t<\/li>\n<li>\n\t\tHong Kong Dollar Touches Strong end of Dollar Peg\n\t<\/li>\n<li>\n\t\tChina Sells US Treasuries To Support Yuan &ndash; BBG\n\t<\/li>\n<li>\n\t\tPBoC Said To Have Intervened In CNY Swap Market &ndash; WSJ\n\t<\/li>\n<li>\n\t\tJapanese FinMin Aso: Real Wages Are Rising, So Consumer Spending &amp; CPI Will Remain In Upward Trend &ndash; RTRS\n\t<\/li>\n<li>\n\t\tMoody&#39;s Revises Forecast For G20 Economies&#39; Growth Downwards To 2.8% In 2016\n\t<\/li>\n<li>\n\t\tJapan CPI (YoY) Jul: 0.2% (exp 0.2% prev 0.4%)\n\t<\/li>\n<li>\n\t\tJapan Unemployment Rate (Jul): 3.3% (exp 3.4% prev 3.4%)\n\t<\/li>\n<li>\n\t\tBOJ&rsquo;s Kuroda says that China slowdown unlikely to hit Japan exports much<a name=\"_GoBack\"><\/a>\n\t<\/li>\n<li>\n\t\tWSJ&rsquo;s Hilsenrath: Overseas Central Bankers &amp; Officials Urge Fed Not To Waver On Interest-Rate Rise\n\t<\/li>\n<li>\n\t\tEx Fed&#39;s Plosser: US economy fundamentals have not changed &ndash;CNBC\n\t<\/li>\n<\/ul>\n<p>\n\tYesterday&rsquo;s trading saw further recovery in risk-sensitive assets as immediate concerns regarding China begin to dissipate at least in the short-term, carrying the USD\/JPY pair 100 pips north of its open, with spot price now trading at 121.00. The pair has established a recovery of the broken support level of 120.40, and sees resistance ahead at 121.60 (broken uptrend-line formed since December 15 2014 low). The EUR\/USD has also followed track, as USD strength returns, as the pair closes fairly well below the key 1.1430 level, with spot price currently trading at 1.1245. On a big-picture perspective, it should be noteworthy that the EUR\/USD can be said to be trading within a volatile range, with the lower end of the range seen at 1.0850.\n<\/p>\n<p>\n\tCable remains to be less active compared to the rest of the major currency pairs, trading within a 140-pip trading range in yesterday&rsquo;s trading &ndash; a range of which follows a two-week average of its daily ranges. The pair has attempted a breakout of the 1.5420 low (7<sup>th<\/sup> of August), taking the spot price to a low of 1.5370 yesterday; however, the pair has since recovered in Asian trading, currently sitting at the 1.5420 level.\n<\/p>\n<p>\n\tCommodity Currencies update: Oil soared 10% in yesterday&rsquo;s trading, in what was the largest 1-day rise since 2009. Some market participants attribute this gain as a reaction to a report that Venezuela has requested an emergency OPEC meeting, which could have implied the discussion of a possible production cut to help stem the recent drop in oil prices. The gain in oil, has helped the Canadian dollar regain ground, with the USDCAD currently looking to trade for its third down-day, from a high of 1.3350 to a current spot price of 1.3170. The AUD\/USD has seen a similar yet, less vigorous recovery off of the rebound in oil, as the pair trades sub-0.7200. Immediate key resistance for the pair resides at 0.7230.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t6:45 BST &ndash; Switzerland GDP q\/q\n\t<\/li>\n<li>\n\t\tALL DAY &ndash; German Prelim CPI m\/m\n\t<\/li>\n<li>\n\t\t8:00 BST &ndash; Spanish Flash CPI y\/y\n\t<\/li>\n<li>\n\t\t&nbsp;9:30 BST &#8211;&nbsp; UK Second Estimate GDP q\/q\n\t<\/li>\n<li>\n\t\t13:30 BST &ndash; US Goods Trade Balance\n\t<\/li>\n<li>\n\t\t13:30 BST &ndash; US Core PCE Price Index\n\t<\/li>\n<li>\n\t\t13:30 BST &ndash; US Personal Spending m\/m\n\t<\/li>\n<\/ul>\n<p>\n\t&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei rose 2.56 %, Shanghai Composite rose 1.29%, Hang Seng gained 1.72 %, ASX200 rose 0.50% Commodities: Gold at $1128.60 (+0.37 %), Silver at $14.48 (+0.44 %), WTI Oil at $43.42(+2.02%), Brent Oil at $48.00 (+0.93 %) Rates: US 10 year yield at 2.18% UK 10 year yield at 1.98%, &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/friday-28th-august-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Friday 28th 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-14493","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\/14493","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=14493"}],"version-history":[{"count":6,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/14493\/revisions"}],"predecessor-version":[{"id":14528,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/14493\/revisions\/14528"}],"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=14493"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=14493"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=14493"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}