{"id":24097,"date":"2017-12-04T12:24:17","date_gmt":"2017-12-04T06:54:17","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=24097"},"modified":"2018-04-16T12:54:03","modified_gmt":"2018-04-16T07:24:03","slug":"monday-4th-december-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/monday-4th-december-european-open-briefing\/","title":{"rendered":"Monday 4th December: 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 down 0.42 %, Shanghai Composite lost 0.30 %, Hang Seng gained 0.69 %, ASX 200 fell 0.07 %<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities: Gold at $1277.20 (-0.40 %), Silver at $16.39 (0.07 %), WTI Oil at $57.95 (-0.70 %), Brent Oil at $63.43 (-0.47 %)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates: US 10-year yield at 2.40, UK 10-year yield at 1.22, German 10-year yield at 0.31<\/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;\">(AUD) Company Operating Profits q\/q <strong>-0.2 %vs 0.3 %<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) ISM Manufacturing PMI <strong>58.2 vs 58.4<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Unemployment Rate <strong>5.9 % vs 6.2 %<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Employment Change <strong>79.5 K vs 10.2 K<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) GDP m\/m <strong>0.2 % vs 0.1 %<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Manufacturing PMI <strong>58.2 vs 56.6<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Dollar gains on U.S. tax cut progress; Asian shares listless- RTRS<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>CFTC Positioning Data (Week ending Nov 28, 2017)<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">EUR long 90K vs 95K long last week.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">GBP long 5K vs 1K short last week.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">JPY short 110K vs 123K short last week<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">CHF short 30K vs 30K short last week.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">CAD long 46K vs 45K long last week<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">AUD long 39k vs 40K long&nbsp;last week.&nbsp;<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">NZD short 14K vs 14K&nbsp;short last week<\/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;\">Asian &ndash; Pacific markets were mostly mixed on Monday morning while the dollar, yields and U.S. equity-index futures rallied as investors digested news that the U.S. Senate narrowly passed an important tax bill in the early hours of Saturday and the special counsel&rsquo;s probe of President Donald Trump&rsquo;s election campaign.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">EURUSD had a rather quiet session early on Monday currently seen trading around 1.1865 as the EUR lost 0.2 percent against the US Dollar. &nbsp;The dollar rose against all major peers on Monday in Asia, The&nbsp;dollar index, which tracks the dollar against a basket of currencies was up 0.3 percent and is currently valued at 93.18. The yield on 10-year Treasuries rose four basis points to 2.40 percent, reversing a decline on Friday.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The Australian Dollar weakened over 0.2 percent against the US Dollar from session highs of 0.7607 to current levels of 0.7593. Meanwhile, Australia&rsquo;s 10-year yield rose one basis point to 2.55 percent. &nbsp;The New Zealand dollar followed a similar price action on Monday and is currently trading around 0.6843 as the kiwi lost over 0.6 percent against the USD.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">USDJPY took out Friday&rsquo;s high reaching the highest since Nov. 17 but has since consolidated within a 25 pip range. Currently the Yen is seen trading around 112.87 per US dollar as the JPY slid 0.6 percent against the USD, a welcome reprieve to dollar bulls after three straight sessions of losses. Japan&#39;s&nbsp;Nikkei 225&nbsp;declined 0.4 percent<\/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 &#8212; Eurogroup Meetings<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:00 GMT &ndash; (EUR) Spanish Unemployment Change<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 GMT &ndash; (GBP) Construction PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">15:00 GMT &ndash; (USD) Factory Orders m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\"><a href=\"https:\/\/www.icmarkets.com\/education\/forex-news-and-calendar\/\">&amp; More&hellip;<\/a><\/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, December 5<sup>th<\/sup><\/u><\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">00:15 GMT &ndash; (NZD) RBNZ Gov Spencer Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">00:30 GMT &ndash; (AUD) Current Account<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">00:30 GMT &ndash; (AUD) Retail Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:45 GMT &ndash; (CNY) Caixin Services PMI<\/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;\">03:30 GMT &ndash; (AUD) RBA Rate Statement<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 GMT &ndash; (GBP) Services PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">13:30 GMT &ndash; (CAD) Trade Balance<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">13:30 GMT &ndash; (USD) Trade Balance<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">15:00 GMT &ndash; (USD) ISM Non-Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\"><a href=\"https:\/\/www.icmarkets.com\/education\/forex-news-and-calendar\/\">&amp; More&hellip;<\/a><\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\"><u>Wednesday, December 6<sup>th<\/sup><\/u><\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">00:30 GMT &ndash; (AUD) GDP q\/q<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">13:15 GMT &ndash; (USD) ADP Non-Farm Employment Change<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">13:30 GMT &ndash; (CAD) Labor Productivity q\/q<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">15:00 GMT &ndash; (CAD) BOC Rate Statement<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">15:00 GMT &ndash; (CAD) Overnight Rate<\/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;\"><a href=\"https:\/\/www.icmarkets.com\/education\/forex-news-and-calendar\/\">&amp; More&hellip;<\/a><\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\"><u>Thursday, December 7<sup>th<\/sup><\/u><\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">00:30 GMT &ndash; (AUD) Trade Balance<\/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;\">13:30 GMT &ndash; (CAD) Building Permits 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;\">15:00 GMT &ndash; (CAD) Ivey PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">16:00 GMT &ndash; (EUR) ECB President Draghi Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">23:50 GMT &ndash; (JPY) Final GDP q\/q<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\"><a href=\"https:\/\/www.icmarkets.com\/education\/forex-news-and-calendar\/\">&amp; More&hellip;<\/a><\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\"><u>Friday, December 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;\">00:30 GMT &ndash; (AUD) Home Loans m\/m<\/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;\">13:30 GMT &ndash; (USD) Average Hourly Earnings m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">13:30 GMT &ndash; (USD) Non-Farm Employment Change<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">13:30 GMT &ndash; (USD) Unemployment Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">15:15 GMT &ndash; (USD) Prelim UoM Consumer Sentiment<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\"><a href=\"https:\/\/www.icmarkets.com\/education\/forex-news-and-calendar\/\">&amp; More&hellip;<\/a><\/span>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.42 %, Shanghai Composite lost 0.30 %, Hang Seng gained 0.69 %, ASX 200 fell 0.07 % Commodities: Gold at $1277.20 (-0.40 %), Silver at $16.39 (0.07 %), WTI Oil at $57.95 (-0.70 %), Brent Oil at $63.43 (-0.47 %) Rates: US 10-year yield at 2.40, UK 10-year &hellip; 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