{"id":22008,"date":"2017-07-18T09:41:31","date_gmt":"2017-07-18T04:11:31","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=22008"},"modified":"2017-07-18T09:41:31","modified_gmt":"2017-07-18T04:11:31","slug":"tuesday-18th-july-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/tuesday-18th-july-european-open-briefing\/","title":{"rendered":"Tuesday 18th 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 0.75 %, Shanghai Composite fell 0.60 %, Hang Seng declined 0.10 %, ASX 200 lost 1.15 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1237 (+0.30 %), Silver at $16.17 (+0.40 %), WTI Oil at $46.10 (+0.20 %), Brent Oil at $48.50 (+0.20 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.30, UK 10-year yield at 1.28, German 10-year yield at 0.58\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tNew Zealand CPI q\/q 0.0 % vs 0.2 % expected\n\t<\/li>\n<li>\n\t\tNew Zealand CPI y\/y 1.7 % vs 1.9 % expected\n\t<\/li>\n<li>\n\t\tChina House Prices y\/y 10.2 % vs 10.4 % previous\n\t<\/li>\n<li>\n\t\tAustralia Roy Morgan Weekly Consumer Confidence Index 112.5 (prev 113.0)\n\t<\/li>\n<li>\n\t\tPBoC Sets Yuan Mid-Point At 6.7611\n\t<\/li>\n<li>\n\t\tOil prices stable as strong demand meets ongoing supply glut &#8211; RTRS\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe US Dollar came under renewed pressure after it became clear that US President Trump&rsquo;s healthcare reform is dead. This makes it unlikely that his economic reforms will pass either. EUR\/USD rallied above 1.15 and there is little resistance now until 1.16. GBP\/USD however, is struggling with resistance at 1.31. The pair might remain quiet ahead of today&rsquo;s inflation release, which could determine its short-term direction.\n<\/p>\n<p>\n\tUSD\/JPY tested 112 and bounced off it. Support is also seen at the 200 DMA at 111.80. A dovish Bank of Japan and risk-on sentiment in markets have kept the USD\/JPY supported so far. However, a daily close below the 200 DMA would signal that further losses are ahead.\n<\/p>\n<p>\n\tAUD\/USD has reached fresh highs and is likely to test 0.80 soon. Commodity prices have bounced and recent Chinese econ data has been strong &ndash; two factors which have kept the AUD bid. Meanwhile, NZD\/USD came under pressure after weak inflation data, but managed to retrace the losses amid broad USD selling.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t09:30 BST &#8211; UK CPI\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; German ZEW Economic Sentiment\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone ZEW Economic Sentiment\n\t<\/li>\n<li>\n\t\t14:30 BST &#8211; Bank of England Governor Carney speaks\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.75 %, Shanghai Composite fell 0.60 %, Hang Seng declined 0.10 %, ASX 200 lost 1.15 % Commodities: Gold at $1237 (+0.30 %), Silver at $16.17 (+0.40 %), WTI Oil at $46.10 (+0.20 %), Brent Oil at $48.50 (+0.20 %) Rates: US 10-year yield at 2.30, UK 10-year &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/tuesday-18th-july-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 18th 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-22008","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\/22008","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=22008"}],"version-history":[{"count":2,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/22008\/revisions"}],"predecessor-version":[{"id":22010,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/22008\/revisions\/22010"}],"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=22008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=22008"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=22008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}