{"id":22054,"date":"2017-07-21T09:52:58","date_gmt":"2017-07-21T04:22:58","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=22054"},"modified":"2017-07-21T09:52:58","modified_gmt":"2017-07-21T04:22:58","slug":"friday-21st-july-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/friday-21st-july-european-open-briefing\/","title":{"rendered":"Friday 21st 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 0.25 %, Shanghai Composite lost 0.20 %, Hang Seng declined 0.05 %, ASX 200 dropped 0.60 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1243 (-0.15 %), Silver at $16.30 (-0.30 %), WTI Oil at $46.90 (-0.05 %), Brent Oil at $49.25 (-0.15 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.26, UK 10 year yield at 1.20, German 10 year yield at 0.54\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tEuro at two-year high, Asian shares barely budge &#8211; RTRS\n\t<\/li>\n<li>\n\t\tDollar near two-year lows vs euro after Draghi comments &#8211; RTRS\n\t<\/li>\n<li>\n\t\tPBOC sets USD\/CNY mid-point today at 6.7415 (vs. yesterday at 6.7464)\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe Euro rallied after the market saw Draghi&rsquo;s comments during the ECB press conference as hawkish. While he tried to maintain a neutral tone, the market interpreted his positive outlook for the economy as a sign that the ECB will soon its QE programme and signal a shift of its monetary policy. EUR\/USD rallied from 1.1490 to a high of 1.1650. In Asia, it retraced some of those gains, but remained well bid overall. Support is now seen at 1.16, followed by 1.1550. EUR\/JPY rallied back above 130. In the near-term, a test of 132 resistance seems likely.\n<\/p>\n<p>\n\tThe Pound fell back below 1.30 yesterday, and the outlook is rather weak amid the recent decline in inflation and the Brexit uncertainty. Meanwhile, USD\/JPY had a solid performance in the past 48 hours, despite broad USD weakness. It bounced once again off 111.50 support and is currently consolidating around 112. A break above 112.50 resistance would then signal a move towards 113.60.\n<\/p>\n<p>\n\tThe Aussie Dollar failed to break above 0.80. However, the positive risk sentiment and rising commodity prices should keep the currency supported in the near-term. Intraday, expect good support at 0.79 and 0.7830.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t13:30 BST &#8211; Canadian Retail Sales\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; Canadian CPI\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.25 %, Shanghai Composite lost 0.20 %, Hang Seng declined 0.05 %, ASX 200 dropped 0.60 % Commodities: Gold at $1243 (-0.15 %), Silver at $16.30 (-0.30 %), WTI Oil at $46.90 (-0.05 %), Brent Oil at $49.25 (-0.15 %) Rates: US 10 year yield at 2.26, UK &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/friday-21st-july-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Friday 21st 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-22054","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\/22054","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=22054"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/22054\/revisions"}],"predecessor-version":[{"id":22055,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/22054\/revisions\/22055"}],"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=22054"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=22054"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=22054"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}