{"id":14520,"date":"2015-09-01T10:40:23","date_gmt":"2015-09-01T05:10:23","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=14520"},"modified":"2015-09-01T10:40:54","modified_gmt":"2015-09-01T05:10:54","slug":"tuesday-1st-september-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/tuesday-1st-september-european-open-briefing\/","title":{"rendered":"Tuesday 1st September: 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 fell 2.36 %, Shanghai Composite fell 2.22%, Hang Seng fell 0.79 %, ASX200 fell 1.28 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1142.31 (+0.65 %), Silver at $14.62 (+0.23 %), WTI Oil at $47.74(-2.97%), Brent Oil at $52.72 (-2.64 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.19% UK 10 year yield at 1.96%, German 10 year yield at 0.80%\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tJapanese FinMin Aso: Want To Talk About Chinese Economy At G-20 Meeting, Need To Examine Structural issues In The Economy &ndash; RTRS\n\t<\/li>\n<li>\n\t\tAustralia Building Approvals (MoM) Jul: 4.2% (exp 3.0% prev rev -5.2%) -Australia Building Approvals (YoY) Jul: 13.4% (exp 10.1% prev 8.6%)\n\t<\/li>\n<li>\n\t\tAustralia Net Exports Of GDP (Q2): -0.60% (exp -0.30% prev 0.50%)\n\t<\/li>\n<li>\n\t\tChina Official Manufacturing PMI (Aug): 49.7 (exp 49.7 prev 50.0)\n\t<\/li>\n<li>\n\t\tChina Official Non-Manufacturing PMI (Aug): 53.4 (prev 53.9)\n\t<\/li>\n<li>\n\t\tJapanese EcoMin Amari: Recovery In CapEx Is Still Weak, Want A Discssion With The Private Sector\n\t<\/li>\n<li>\n\t\tSouth Korea Exports (YoY) Aug: -14.7% (exp -5.9% prev rev -3.4%) -South Korea Imports (YoY) Aug: -18.3% (exp -15.0% prev -15.3%)\n\t<\/li>\n<li>\n\t\tSouth Korea Trade Balance (Aug): USD 4347 Mln (exp USD 6077 Mln prev rev USD 7723 Mln)\n\t<\/li>\n<li>\n\t\tAustralia AiG PMI (Aug): 51.7 (prev 50.4)\n\t<\/li>\n<li>\n\t\tMorgan Stanley Cuts S&amp;P 500 Price Target &ndash; MW\n\t<\/li>\n<li>\n\t\tNew Zealand Terms Of Trade (QoQ) Q2: 1.3% (exp -2.5% prev rev 1.4%)\n\t<\/li>\n<li>\n\t\tUS Dallas Fed Manufacturing Activity (Aug) -15.8 (est. -3.8, prev. -4.6)\n\t<\/li>\n<li>\n\t\tUS CHICAGO PMI AUG: 54.4 (EST. 54.5, PREV. 54.7)\n\t<\/li>\n<li>\n\t\tEURUSD Net Shorts Lowest in 13 Months According to Futures data<br \/>\n\t\t&nbsp;\n\t<\/li>\n<\/ul>\n<p>\n\tMajor currencies update: Asian equity indices are opening lower, following Monday&rsquo;s descent, dragging the USD\/JPY lower again during today&rsquo;s Asian session, with spot now at 120.78, down 40 pips from an opening price of 121.22. The two consecutive down-days so far established in the pair has printed a short-term swing high of 121.74 from last Friday&rsquo;s high, of which should be watched for nearby resistance. The pair is currently testing intraday support at 120.60. The EUR\/USD also is following in suit with the yen, with the dollar down versus the euro as the pair climbs to the current spot price of 1.1270. Furthermore, a swing low of 1.1160 has also been defended in yesterday&rsquo;s trading, despite intraday pressure lower to 1.1180. Immediate resistance for today remains at 1.1300. On the side of the GBP\/USD, the pair is currently trading within a 100 pip range 1.5440, and 1.5340, lacking any trending characteristics thus far, with spot currently sub 1.5400.\n<\/p>\n<p>\n\tCommodity currencies update: The AUD\/USD, like the pound, is also directionless thus far, continuing its range-trading behaviour established since the 26<sup>th<\/sup> of August last week, as the pair awaits today&rsquo;s RBA Rate decision and announcement. The NZD\/USD however has continued downside trade, with spot driven lower to 0.6375 currently, after a mild upside recovery in today&rsquo;s Asian session of trading. The move lower yesterday has been seen by market watchers to have been linked to a continued decline in business confidence indicators. Immediate resistance for the pair is seen at 0.6400-0.6410, with support as today&rsquo;s low of 0.6320.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t5:30 BST &ndash; RBA Rate Decision and Announcement\n\t<\/li>\n<li>\n\t\t8:15 BST &ndash; Spanish Manufacturing PMI\n\t<\/li>\n<li>\n\t\t8:55 BST &ndash; German Unemployment Change\n\t<\/li>\n<li>\n\t\t9:30 BST &ndash; UK Manufacturing PMI\n\t<\/li>\n<li>\n\t\t10:00 BST &ndash; Europe Unemployment Rate\n\t<\/li>\n<li>\n\t\t13:30 BST &ndash; Canada GDP m\/m\n\t<\/li>\n<li>\n\t\t15:00 BST &ndash; United States ISM Manufacturing PMI\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei fell 2.36 %, Shanghai Composite fell 2.22%, Hang Seng fell 0.79 %, ASX200 fell 1.28 % Commodities: Gold at $1142.31 (+0.65 %), Silver at $14.62 (+0.23 %), WTI Oil at $47.74(-2.97%), Brent Oil at $52.72 (-2.64 %) Rates: US 10 year yield at 2.19% UK 10 year yield at &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/tuesday-1st-september-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 1st September: 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-14520","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\/14520","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=14520"}],"version-history":[{"count":2,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/14520\/revisions"}],"predecessor-version":[{"id":14522,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/14520\/revisions\/14522"}],"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=14520"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=14520"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=14520"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}