{"id":19672,"date":"2017-01-20T11:05:53","date_gmt":"2017-01-20T05:35:53","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=19672"},"modified":"2017-01-20T11:05:53","modified_gmt":"2017-01-20T05:35:53","slug":"friday-20th-january-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/friday-20th-january-european-open-briefing\/","title":{"rendered":"Friday 20th 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 up 0.40 %, Shanghai Composite gained 0.65 %, Hang Seng fell 0.65 %, ASX 200 lost 0.70 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1207 (+0.50 %), Silver at $17.07 (+0.40 %), WTI Oil at $52.30 (+0.35 %), Brent Oil at $54.40 (+0.45 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.46, UK 10-year yield at 1.41, German 10-year yield at 0.38\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tChina GDP SA (QoQ) Q4: 1.7% (est. 1.70%, prev. 1.80%)\n\t<\/li>\n<li>\n\t\tChina GDP (YoY) Q4: 6.8% (est. 6.70%, prev. 6.70%)\n\t<\/li>\n<li>\n\t\tChina Industrial Production (YoY) Dec: 6.0% (est. 6.10%, prev. 6.20%)\n\t<\/li>\n<li>\n\t\tChina Industrial Production(YtD)(YoY)Dec: 6.0% (est. 6.00%, prev. 6.00%)\n\t<\/li>\n<li>\n\t\tChina Retail Sales (YoY)Dec: 10.9% (est. 10.70%, prev. 10.80%)\n\t<\/li>\n<li>\n\t\tChina Retail Sales (YtD) (YoY) Dec: 10.4% (est. 10.40%, prev. 10.40%)\n\t<\/li>\n<li>\n\t\tJapan Reuters Tankan Manufacturers Index Jan: 18 (prev.16); highest since Aug 2014\n\t<\/li>\n<li>\n\t\tJapan Reuters Tankan Non-Manufacturers Index Jan: 30 (prev.19); highest since June 2015\n\t<\/li>\n<li>\n\t\tAustralia HIA New Home Sales (MoM) Nov: 6.1% (prev. -8.50%)\n\t<\/li>\n<li>\n\t\tPBOC sets USD\/CNY mid-point at 6.8693 (prev. close 6.8750, prev. fix 6.8568)\n\t<\/li>\n<li>\n\t\tFed Chair Yellen: Says unwise, risky, to allow US economy to run persistently &#39;hot&#39;\n\t<\/li>\n<li>\n\t\tYellen: &#39;Prudent&#39; to adjust stance of monetary policy gradually\n\t<\/li>\n<li>\n\t\tYellen: Determining how best to adjust rates to foster strong job growth, low inflation won&#39;t be easy\n\t<\/li>\n<li>\n\t\tYellen: Labour utilization close to estimated long-run level\n\t<\/li>\n<li>\n\t\tYellen: Inflation likely to reach fed&#39;s 2-pct goal over next couple of years\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tRisk appetite improved in the Asian session, following better than expected Chinese GDP and retail sales data. The Shanghai Composite rose over 0.60 % on the day, while the Yuan strengthened. USD\/CNH fell from 6.85 at the open to a low of 6.8340.\n<\/p>\n<p>\n\tThe Dollar weakened again slightly. EUR\/USD recovered from the post-ECB losses and rallied to 1.0690 in Asia. Resistance is now seen at 1.0720, followed by 1.0780. GBP\/USD rose from 1.2330 to 1.2370 and another test of the 1.2415 resistance level seems likely. Meanwhile, USD\/JPY ran into strong resistance at 115.50 and reversed. The short-term technical outlook remains bearish, and further losses seem likely. A break below 114.50 would signal another move towards 113.\n<\/p>\n<p>\n\tThe commodity currencies remain strong. AUD\/USD extended gains to 0.7590 overnight, and there is little resistance until 0.77 now. NZD\/USD is still struggling to take out 0.7240 resistance, but remains well bid nevertheless.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\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","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.40 %, Shanghai Composite gained 0.65 %, Hang Seng fell 0.65 %, ASX 200 lost 0.70 % Commodities: Gold at $1207 (+0.50 %), Silver at $17.07 (+0.40 %), WTI Oil at $52.30 (+0.35 %), Brent Oil at $54.40 (+0.45 %) Rates: US 10-year yield at 2.46, UK 10-year &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/friday-20th-january-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Friday 20th 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-19672","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\/19672","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=19672"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/19672\/revisions"}],"predecessor-version":[{"id":19673,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/19672\/revisions\/19673"}],"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=19672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=19672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=19672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}