{"id":20606,"date":"2017-03-31T09:36:37","date_gmt":"2017-03-31T04:06:37","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=20606"},"modified":"2017-03-31T09:36:37","modified_gmt":"2017-03-31T04:06:37","slug":"friday-31st-march-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/friday-31st-march-european-open-briefing\/","title":{"rendered":"Friday 31st March: 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 0.60 %, Shanghai Composite and Hang Seng both rose 0.05 %, ASX 200 gained 0.10 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1240 (-0.35 %), Silver at $18.12 (-0.50 %), WTI Oil at $50.25 (-0.20 %), Brent Oil at $53.00 (-0.20 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.42, UK 10-year yield at 1.12, 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\tChinese Manufacturing PMI Mar: 51.8 (exp 51.6; prev 51.6)\n\t<\/li>\n<li>\n\t\tChinese Non-Manufacturing PMI Mar: 55.1 (prev 54.2)\n\t<\/li>\n<li>\n\t\tJapanese Industrial Production (MoM) Feb P: 2.0% (exp 1.2%; prev -0.4%)\n\t<\/li>\n<li>\n\t\tJapanese Industrial Production (YoY) Feb P: 4.8% (exp 3.9%; prev 3.7%)\n\t<\/li>\n<li>\n\t\tJapanese Unemployment Rate Feb: 2.8% (exp 3.0%; prev 3.0%)\n\t<\/li>\n<li>\n\t\tJapanese Overall Household Spending (YoY) Feb: -3.8% (exp -1.7%; prev -1.2%)\n\t<\/li>\n<li>\n\t\tJapanese National CPI (YoY) Feb: 0.3% (exp 0.2%; prev 0.4%)\n\t<\/li>\n<li>\n\t\tJapanese National CPI Ex-Food, Energy (YoY) Feb: 0.1% (exp 0.1%; prev 0.2%)\n\t<\/li>\n<li>\n\t\tAustralian Private Sector Credit (MoM) Feb: 0.3% (exp 0.5%; 0.2%)\n\t<\/li>\n<li>\n\t\tAustralian Private Sector Credit (YoY) Feb: 5.0% (exp 5.3%; prev 5.4%)\n\t<\/li>\n<li>\n\t\tNew Zealand ANZ Activity Outlook Mar: 38.8 (prev 37.2)\n\t<\/li>\n<li>\n\t\tNew Zealand ANZ Business Confidence Mar: 11.3 (prev 16.6)\n\t<\/li>\n<li>\n\t\tNew Zealand Building Consents (MoM) Feb: 14.0% (prev 0.8%)\n\t<\/li>\n<li>\n\t\tSouth Korean Industrial Production (MoM) Feb: -3.4% (exp -0.3%; prev 3.3%; rev prev 2.9%)\n\t<\/li>\n<li>\n\t\tSouth Korean Industrial Production (YoY) Feb: 6.6% (exp 8.0%; prev 1.7%; rev prev 1.4%)\n\t<\/li>\n<li>\n\t\tUK GfK Consumer Confidence Mar: -6 (exp -7; prev -6)\n\t<\/li>\n<li>\n\t\tPBoC Fixes USDCNY Reference Rate At 6.8993 (prev fix 6.8889; prev close 6.8886)\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe US Dollar appreciated after a stronger than expected US GDP number and hawkish talk from several FOMC members. EUR\/USD fell below support at 1.07 and is likely to extend losses to 1.06 in the near-term. Meanwhile, USD\/JPY rallied above 112 in Asia and reached 112.15 after the strong Chinese economic numbers were released. Offers are noted around 112.20. However, above that level, there is very little resistance until 112.80-85.\n<\/p>\n<p>\n\tGBP\/USD bounced yesterday, despite the broad Dollar strength. The pair briefly rallied above 1.25, and could test 1.26 resistance soon. Worries about Brexit are still present, but those are rather medium- to long-term. In the short-term, traders are more concerned with the UK economic numbers and what the Bank of England will do.\n<\/p>\n<p>\n\tFlows in the commodity currencies remain very light. AUD\/USD and NZD\/USD have barely moved this week. Even USD\/CAD is consolidating in a rather tight range, despite the increased volatility in Oil prices.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t07:00 GMT &#8211; German Retail Sales\n\t<\/li>\n<li>\n\t\t07:45 GMT &#8211; French CPI\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; German Unemployment Rate\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK GDP\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone CPI\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Italian CPI\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Core PCE Price Index\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Personal Income\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Personal Spending\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; Canadian GDP\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; US Michigan Consumer Sentiment\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.60 %, Shanghai Composite and Hang Seng both rose 0.05 %, ASX 200 gained 0.10 % Commodities: Gold at $1240 (-0.35 %), Silver at $18.12 (-0.50 %), WTI Oil at $50.25 (-0.20 %), Brent Oil at $53.00 (-0.20 %) Rates: US 10-year yield at 2.42, UK 10-year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/friday-31st-march-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Friday 31st March: 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-20606","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\/20606","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=20606"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/20606\/revisions"}],"predecessor-version":[{"id":20607,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/20606\/revisions\/20607"}],"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=20606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=20606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=20606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}