{"id":19609,"date":"2017-01-16T10:26:41","date_gmt":"2017-01-16T04:56:41","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=19609"},"modified":"2017-01-16T10:26:41","modified_gmt":"2017-01-16T04:56:41","slug":"monday-16th-january-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/monday-16th-january-european-open-briefing\/","title":{"rendered":"Monday 16th January: 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 down 0.70 %, Shanghai Composite lost 1.40 %, Hang Seng declined 0.95 %, ASX 200 rose 0.45 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1202 (+0.50 %), Silver at $16.87 (+0.65 %), WTI Oil at $52.55 (+0.35 %), Brent Oil at $55.65 (+0.40 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.40, UK 10-year yield at 1.36, German 10-year yield at 0.34\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tJapan Tertiary Industry Activity Index (MoM) Nov: 0.20% (prev. 0.20%)\n\t<\/li>\n<li>\n\t\tJapan Machine Orders (MoM) Nov: -5.1% (est. -1.4%, prev. 4.1%)\n\t<\/li>\n<li>\n\t\tJapan Machine Orders (YoY) Nov: 10.4% (est. 8.1%, prev. -5.6%)\n\t<\/li>\n<li>\n\t\tJapan PPI (YoY) Dec: -1.2% (est. -1.4%, prev. -2.2%)\n\t<\/li>\n<li>\n\t\tJapan PPI (MoM) Dec: 0.6% (est. 0.4%, prev. 0.4%)\n\t<\/li>\n<li>\n\t\tUK Rightmove House Prices (MoM) Jan: 0.4% (prev. -2.1%)\n\t<\/li>\n<li>\n\t\tUK Rightmove House Prices (YoY) Jan: 3.2% (prev. 3.4%)\n\t<\/li>\n<li>\n\t\tAustralia Melbourne Institute Inflation (MoM) Dec: 0.5% (prev. 0.1%)\n\t<\/li>\n<li>\n\t\tAustralia Melbourne Institute Inflation (YoY) Dec: 1.8% (prev. 1.5%)\n\t<\/li>\n<li>\n\t\tNew Zealand Food Prices (MoM) Dec: -0.8% (prev. -0.1%)\n\t<\/li>\n<li>\n\t\tChina sets USD\/CNY reference rate at 6.8874 (prev fix 6.8909, prev close 6.9022)\n\t<\/li>\n<li>\n\t\tSterling skids on Brexit anxiety; investors hope for Trump clarity &#8211; RTRS\n\t<\/li>\n<li>\n\t\tJapan core machinery orders fall as Trump, demand uncertainty sets in &#8211; RTRS\n\t<\/li>\n<li>\n\t\tOil prices edge up on weaker dollar, expected crude output cuts &#8211; RTRS\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>CFTC Positioning Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tEUR short 66K vs 70K short last week. Shorts trimmed by 4K.\n\t<\/li>\n<li>\n\t\tGBP short 66K vs 65K short last week. Shorts increase by 1K.\n\t<\/li>\n<li>\n\t\tJPY short 80K vs. 87K short last week. Shorts trimmed by 7K.\n\t<\/li>\n<li>\n\t\tCHF short 14K vs. 13K short last week. Shorts increased by 1K\n\t<\/li>\n<li>\n\t\tCAD short 8K vs 4K short last week. Shorts increase by 4K.\n\t<\/li>\n<li>\n\t\tAUD short 4K vs 2K short last week. Shorts increased by 2K.\n\t<\/li>\n<li>\n\t\tNZD short 14K vs 11K short last week. Short increased by 3K.<br \/>\n\t\t&nbsp;\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe British Pound fell sharply at the Asia open today, following reports that UK Prime Minister May seeks a &ldquo;hard Brexit&rdquo;, meaning that the UK will leave the EU single market. GBP\/USD opened around 1.20, down from 1.2190. It managed to recover slightly later in the session, to a high of 1.2055, but it will be difficult for it to fill the gap ahead of May&rsquo;s speech.\n<\/p>\n<p>\n\tThis dragged the Euro lower as well, and EUR\/USD opened at 1.0630, approximately 10 pips down from Friday&#39;s close. It declined to a low of 1.0600 after the Tokyo open. USD\/JPY came under pressure amid falling equity markets and declined from 114.45 to 113.95.\n<\/p>\n<p>\n\tThe commodity currencies weakened as well, with AUD\/USD falling from 0.7505 to 0.7470. The pair ran into major resistance at 0.7520, and the key support level to watch now is 0.74. NZD\/USD declined from 0.7145 to 0.7090.\n<\/p>\n<p>\n\t<strong>Upcoming Events:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone Trade Balance\n\t<\/li>\n<li>\n\t\t18:30 GMT &#8211; Bank of England Governor Carney speaks\n\t<\/li>\n<li>\n\t\t21:00 GMT &#8211; New Zealand NZIER Business Confidence\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>The Week Ahead:<\/strong><br \/>\n<\/h4>\n<p>\n\t<u>Tuesday, January 17th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:30 GMT &#8211; Australian Home Loans\n\t<\/li>\n<li>\n\t\t04:30 GMT &#8211; Japanese Industrial Production\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; Italian Trade Balance\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK CPI\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone ZEW Economic Sentiment\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; German ZEW Economic Sentiment\n\t<\/li>\n<li>\n\t\t11:00 GMT &#8211; ECB Member Nowotny speaks\n\t<\/li>\n<li>\n\t\t13:45 GMT &#8211; FOMC Member Dudley speaks\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; FOMC Member Bullard speaks\n\t<\/li>\n<li>\n\t\t23:00 GMT &#8211; FOMC Member Williams speaks\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Wednesday, January 18th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:30 GMT &#8211; Australian Westpac Consumer Sentiment\n\t<\/li>\n<li>\n\t\t07:00 GMT &#8211; German CPI\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Unemployment Rate\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Claimant Count Change\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone CPI\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US CPI\n\t<\/li>\n<li>\n\t\t14:00 GMT &#8211; FOMC Member Kaplan speaks\n\t<\/li>\n<li>\n\t\t14:15 GMT &#8211; US Manufacturing Production\n\t<\/li>\n<li>\n\t\t14:15 GMT &#8211; US Industrial Production\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; Bank of Canada Rate Decision\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; US NAHB Housing Market Index\n\t<\/li>\n<li>\n\t\t16:00 GMT &#8211; FOMC Member Kashkari speaks\n\t<\/li>\n<li>\n\t\t16:15 GMT &#8211; Bank of Canada Governor Poloz speaks\n\t<\/li>\n<li>\n\t\t21:30 GMT &#8211; New Zealand Business NZ Manufacturing Index\n\t<\/li>\n<li>\n\t\t21:45 GMT &#8211; New Zealand Building Permits\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Thursday, January 19th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:00 GMT &#8211; New Zealand ANZ Consumer Confidence\n\t<\/li>\n<li>\n\t\t00:00 GMT &#8211; Australian Consumer Inflation Expectations\n\t<\/li>\n<li>\n\t\t00:30 GMT &#8211; Australian Unemployment Rate\n\t<\/li>\n<li>\n\t\t00:30 GMT &#8211; Australian Employment Change\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; Euro Zone Current Account\n\t<\/li>\n<li>\n\t\t12:45 GMT &#8211; ECB Rate Decision\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; ECB Press Conference\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Building Permits\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Housing Starts\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Initial Jobless Claims\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Friday, January 20th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:00 GMT &#8211; Australia HIA New Home Sales\n\t<\/li>\n<li>\n\t\t02:00 GMT &#8211; China GDP\n\t<\/li>\n<li>\n\t\t02:00 GMT &#8211; China Industrial Production\n\t<\/li>\n<li>\n\t\t02:00 GMT &#8211; China Retail Sales\n\t<\/li>\n<li>\n\t\t07:00 GMT &#8211; German Producer Prices\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Retail Sales\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; Canadian CPI\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; Canadian Retail Sales\n\t<\/li>\n<li>\n\t\t14:00 GMT &#8211; FOMC Member Harker speaks\n\t<\/li>\n<li>\n\t\t18:00 GMT &#8211; FOMC Member Williams speaks\n\t<\/li>\n<\/ul>\n<p>\n\t&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.70 %, Shanghai Composite lost 1.40 %, Hang Seng declined 0.95 %, ASX 200 rose 0.45 % Commodities: Gold at $1202 (+0.50 %), Silver at $16.87 (+0.65 %), WTI Oil at $52.55 (+0.35 %), Brent Oil at $55.65 (+0.40 %) Rates: US 10-year yield at 2.40, UK 10-year &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/monday-16th-january-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 16th January: 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-19609","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\/19609","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=19609"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/19609\/revisions"}],"predecessor-version":[{"id":19610,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/19609\/revisions\/19610"}],"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=19609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=19609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=19609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}