{"id":21866,"date":"2017-07-05T10:17:20","date_gmt":"2017-07-05T04:47:20","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=21866"},"modified":"2017-07-05T10:17:20","modified_gmt":"2017-07-05T04:47:20","slug":"wednesday-5th-july-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/wednesday-5th-july-european-open-briefing\/","title":{"rendered":"Wednesday 5th July: 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 0.45&nbsp; %, Shanghai Composite gained 0.80 %, Hang Seng rose 0.40 %, ASX 200 fell 0.10 %\n\t<\/li>\n<li>\n\t\tGold at $1228, Silver at $16.15, WTI Oil at $47.00, Brent Oil at $49.50\n\t<\/li>\n<li>\n\t\tUS 10 year yield at 2.32, UK 10 year yield at 1.25, German 10 year yield at 0.48\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>News &amp; Data:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\tChinese Caixin Services PMI Jun: 51.6 (prev 52.8)&nbsp;\n\t<\/li>\n<li>\n\t\tChinese Caixin Composite PMI Jun: 51.1 (prev 51.6)\n\t<\/li>\n<li>\n\t\tNew Zealand ANZ Commodity Price Jun: 2.1% (prev 3.20%)\n\t<\/li>\n<li>\n\t\tAustralian AiG Perf of Services Index Jun: 54.8 (prev 51.5)\n\t<\/li>\n<li>\n\t\tUK BRC Shop Price Index (Y\/Y) Jun: -0.3% (prev -0.4%)\n\t<\/li>\n<li>\n\t\tPBoC Fixes USDCNY Reference Rate At 6.7922 (prev fix 6.7981 prev close 6.8005)\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe Dollar remained bid overnight. However, this seems more like a small recovery before the downtrend continues rather than the beginning of a reversal. The Fed&#39;s rate path is now quite clear, and unless economic data surprises, there will not be a rate hike until December. Meanwhile, rate expectations in other countries are rising &#8211; which is making the Dollar less attractive.&nbsp;\n<\/p>\n<p>\n\tThe Euro is likely to find good support ahead of 1.1320. Buying interest remains high and the charts suggest further gains are ahead. In the near-term, the pair could soon test 1.15, especially if US jobs data&nbsp;on Friday&nbsp;disappoints.&nbsp;\n<\/p>\n<p>\n\tGBPUSD came slightly under pressure, but managed to stay above 1.29. Key support is seen at 1.2850. Meanwhile, the Australian Dollar is struggling following yesterday&#39;s RBA meeting. Short-term technicals remain slightly positive as long as AUDUSD is above 0.75. A break below 0.75 support could signal a pullback to at least 0.72.\n<\/p>\n<h4>\n\t<strong>Economic Calendar:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t08:45 BST&nbsp;&#8211; Italian Services PMI\n\t<\/li>\n<li>\n\t\t08:50 BST&nbsp;&#8211; French Services PMI\n\t<\/li>\n<li>\n\t\t08:55 BST&nbsp;&#8211; German Services PMI\n\t<\/li>\n<li>\n\t\t09:00 BST&nbsp;&#8211; Euro Zone Services PMI\n\t<\/li>\n<li>\n\t\t10:00 BST&nbsp;&#8211; Euro Zone Retail Sales\n\t<\/li>\n<li>\n\t\t19:00 BST&nbsp;&#8211; FOMC Meeting Minutes\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.45&nbsp; %, Shanghai Composite gained 0.80 %, Hang Seng rose 0.40 %, ASX 200 fell 0.10 % Gold at $1228, Silver at $16.15, WTI Oil at $47.00, Brent Oil at $49.50 US 10 year yield at 2.32, UK 10 year yield at 1.25, German 10 year yield at &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/wednesday-5th-july-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 5th July: 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-21866","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\/21866","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=21866"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21866\/revisions"}],"predecessor-version":[{"id":21867,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21866\/revisions\/21867"}],"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=21866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=21866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=21866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}