{"id":23662,"date":"2017-11-06T11:26:14","date_gmt":"2017-11-06T05:56:14","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=23662"},"modified":"2017-11-06T11:26:14","modified_gmt":"2017-11-06T05:56:14","slug":"monday-6th-november-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/monday-6th-november-european-open-briefing\/","title":{"rendered":"Monday 6th November: European Open Briefing"},"content":{"rendered":"<h4>\n\t<strong>Global Markets:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">Asian stock markets: Nikkei up 0.06 %, Shanghai Composite rose by 0.24 %, Hang Seng fell 0.50 %, ASX 200 down 0.10 %<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities: Gold at $1270.29 (0.07 %), Silver at $16.86 (0.14 %), WTI Oil at $55.78 (0.23 %), Brent Oil at $62.32 (0.40 %)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates: US 10-year yield at 2.33, UK 10-year yield at 1.26, German 10-year yield at 0.36<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">(NZD) Inflation Expectations q\/q <strong>2.0 % vs 2.1 %<\/strong> previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) ISM Non-Manufacturing PMI <strong>60.1 vs 58.8<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Average Hourly Earnings m\/m <strong>0.0 % vs 0.2 %<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Non-Farm Employment Change <strong>261 K vs 312 K<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Unemployment <strong>Rate 6.3 % vs 6.2 %<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Employment Change <strong>35.3 vs 15.3 K<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Trade Balance <strong>-3.2 B vs -3.0 B<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Unemployment Rate <strong>6.3 % vs 6.2 %<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Services PMI <strong>55.6 vs 53.3<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Oil hits highest levels since 2015 amid tightening markets, Saudi purge- RTRS<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>CFTC Positioning Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">EUR long 72K vs 84K long last week. Longs trimmed by 12K.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">GBP long 1K vs 1K short last week. Position shifts to small long from small short last week.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">JPY short 119K vs 116K short last week. Shorts increased by 3K<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">CHF short 21K vs 12K short last week. Shorts increased by 9K<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">CAD long 58K vs 72K long last week. Longs trimmed by 14K.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">AUD long 52k vs 57K&nbsp;long last week. Longs trimmed by 5K<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">NZD short 6K vs 1K long last week. Position shifted to short.&nbsp;<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\t<span style=\"font-size:14px;\">Asia-Pacific equity markets edged down early on Monday despite record gains on Wall Street last Friday as China&rsquo;s central bank chief warned again about excessive leverage. Investors also digested earnings reports and remained cautious as US President Donald Trump&#39;s tour of the region got underway.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">USDJPY is currently seen trading at 114.30 as the Yen lost 0.2 percent against the US Dollar, continuing its earlier decline of 0.5 percent when The dollar rose as high as 114.735 yen, climbing to its highest levels since mid-March. Japan&#39;s Nikkei 225 slid 0.11 percent as markets re-opened for trade after a long weekend, currently the Nikkei gained some ground and is up 0.05%.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">EURUSD was steady earlier in the Asian Session trading in a tight range around 1.1610. The Dollar is currently near three-month highs, underpinned by Fed tightening view. The&nbsp;dollar index, which tracks the dollar against a basket of currencies was flat and is currently valued at 94.94. The yield on 10-year Treasuries was up about one basis point to 2.34 percent. It fell more than seven basis points last week.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">AUDUSD opened on a slightly positive note currently seen trading above 0.7650 benefiting from a better tone in Chinese commodity markets. Australian 10-year yields were steady at 2.57 percent. On the other hand, the New Zealand dollar was slightly weaker trading around 0.6890 down from session highs of 0.6915 against the US Dollar.<\/span>\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">All Day &ndash; (EUR) Eurogroup Meetings<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 GMT &ndash; (EUR) Final Services PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">10:00 GMT &ndash; (EUR) PPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">15:00 GMT &ndash; (CAD) Ivey PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">17:10 GMT &ndash; (USD) FOMC Member Dudley Speaks<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>The Week Ahead:<\/strong><br \/>\n<\/h4>\n<p>\n\t<span style=\"font-size:14px;\"><u>Tuesday, November 7<sup>th<\/sup><\/u><\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">All Day &ndash; (EUR) ECOFIN Meetings<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Tentative &ndash; (NZD) GDT Price Index<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:30 GMT &ndash; (AUD) RBA Rate Statement<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:30 GMT &ndash; (AUD) Cash Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 GMT &ndash; (GBP) Halifax HPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 GMT &ndash; (EUR) ECB President Draghi Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">17:35 GMT &ndash; (USD) FOMC Member Quarles Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">17:35 GMT &ndash; (CAD) BOC Gov Poloz Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">17:35 GMT &ndash; (USD) Fed Chair Yellen Speaks<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\"><u>Wednesday, November 8<sup>th<\/sup><\/u><\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">Tentative &ndash; (CNY) Trade Balance<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">13:30 GMT &ndash; (CAD) Building Permits m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">15:30 GMT &ndash; (USD) Crude Oil Inventories<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">20:00 GMT &ndash; (NZD) RBNZ Rate Statement<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">20:00 GMT &ndash; (NZD) Official Cash Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">20:00 GMT &ndash; (NZD) RBNZ Monetary Policy Statement<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">20:00 GMT &ndash; (NZD) RBNZ Press Conference<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\"><u>Thursday, November 9<sup>th<\/sup><\/u><\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 GMT &ndash; (CNY) CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 GMT &ndash; (CNY) PPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">10:00 GMT &ndash; (EUR) EU Economic Forecasts<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">13:30 GMT &ndash; (CAD) NHPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">13:30 GMT &ndash; (USD) Unemployment Claims<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">16:30 GMT &ndash; (CHF) SNB Chairman Jordan Speaks<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<u style=\"font-size: 14px;\">Friday, November 10<sup>th<\/sup>&nbsp;<\/u>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">All Day &ndash; (USD) Bank Holiday<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">00:30 GMT &ndash; (AUD) RBA Monetary Policy Statement<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 GMT &ndash; (GBP) Manufacturing Production m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 GMT &ndash; (GBP) Goods Trade Balance<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">15:00 GMT &ndash; (USD) Prelim UoM Consumer Sentiment<\/span>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.06 %, Shanghai Composite rose by 0.24 %, Hang Seng fell 0.50 %, ASX 200 down 0.10 % Commodities: Gold at $1270.29 (0.07 %), Silver at $16.86 (0.14 %), WTI Oil at $55.78 (0.23 %), Brent Oil at $62.32 (0.40 %) Rates: US 10-year yield at 2.33, UK &hellip; 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