{"id":24819,"date":"2018-01-25T12:01:40","date_gmt":"2018-01-25T06:31:40","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=24819"},"modified":"2018-01-25T12:04:17","modified_gmt":"2018-01-25T06:34:17","slug":"thursday-25th-january-european-open-briefing","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/thursday-25th-january-european-open-briefing\/","title":{"rendered":"Thursday 25th January: European Open Briefing"},"content":{"rendered":"<h4>\n\t<span style=\"font-size:14px;\"><strong>Global Markets:<\/strong><\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">Asian stock markets: Nikkei down -1.11%, Shanghai Composite up 0.07 %, Hang Seng lost 0.24 %, ASX down 0.08%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities: Gold at $1364.20 (+0.58%), Silver at $17.67 (+1.03%), WTI Oil at $66.27 (+1.01 %), Brent Oil at $71.02 (+0.69 %)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates: US 10-year yield at 2.637, UK 10-year yield at 1.407, German 10-year yield at 0.580<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong style=\"font-size: 14px;\">News &amp; Data:<\/strong><span style=\"font-size:14px;\">&nbsp;&nbsp;<\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">(NZD) CPI q\/q 0.1% vs 0.4% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Crude Oil Inventories -1.1M vs -1.0M expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(AUD) CB Leading Index m\/m 0.3% vs 0.3% previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Existing Home Sales 5.57M vs 5.72M expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Flash Services PMI 53.3 vs 54.5 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Flash Manufacturing PMI 55.5 vs 55.2 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) HPI m\/m 0.4% vs 0.4% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Unemployment Rate 4.3% vs 4.3% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Claimant Count Change 8.6K vs 2.3K expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Average Earnings Index 3m\/y 2.5% vs 2.5% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">&nbsp;(EUR) Flash Services PMI 57.6 vs 56.5 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) Flash Manufacturing PMI 59.6 vs 60.4 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) German Flash Services PMI 57 vs 55.6 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) German Flash Manufacturing PMI 61.2 vs 63.2 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) French Flash Services PMI 59.3 vs 58.9 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) French Flash Manufacturing PMI 58.1 vs 58.7 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(NZD) Credit Card Spending y\/y 6.3% vs 9.1% previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(JPY) Flash Manufacturing PMI 54.4 vs 54.3 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">China says cooperation is only the &#39;correct direction&#39; for China-US trade ties<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Steven Mnuchin: Weaker dollar is good for the US<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong style=\"font-size: 14px;\">Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\t<span style=\"font-size:14px;\">Asian markets traded lower on Thursday. The strengthening yen contributed to Nikkei&rsquo;s underperformance. Korea was an exception, with KOSPI and won outperforming. Chinese market has been on the decline, the hawkish trade rhetoric from the White House not aiding it.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">The weak dollar has been subjected to further pressure following Mnuchnin&rsquo;s remarks. While metals have been trading higher, this has mostly been attributed to the weakened dollar.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">Crude at fresh three-year highs after bullish DOE inventory data and supportive remarks by energy ministers at Davos. PBoC drained net CNY120B via OMOs while fixing yuan midpoint at strongest since Nov-2015.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">Aside from dollar weakness, country\/region dynamics have driven moves in non-USD currencies. Euro at more than three-year highs, as attention turns to ECB meeting tonight. Against the backdrop of euro strength, no policy change expected but language in guidance will be eyed. <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">Meanwhile, Kiwi dollar was under selling pressure after New Zealand inflation came in well short of expectations. S&amp;P500 closed lower for first time in four days after swinging between gains and losses. While sentiment is still fairly upbeat, the weakening dollar poses a threat to multinational&rsquo;s earnings.<\/span>\n<\/p>\n<h4>\n\t<strong style=\"font-size: 14px;\">Upcoming Events:<\/strong><span style=\"font-size:14px;\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">07:00 AM GMT &#8211; (EUR) German GfK Consumer Climate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:00 AM GMT &#8211; (EUR) Spanish Unemployment Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 AM GMT &#8211; (EUR) German Ifo Business Climate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) High Street Lending<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:00 AM GMT &#8211; (GBP) CBI Realized Sales<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:45 PM GMT &#8211; (EUR) Minimum Bid Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Core Retail Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Retail Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (EUR) ECB Press Conference<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Unemployment Claims<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Goods Trade Balance<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:00 PM GMT &#8211; (EUR) Belgian NBB Business Climate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (USD) New Home Sales<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (USD) CB Leading Index m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:30 PM GMT &#8211; (USD) Natural Gas Storage<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:30 PM GMT &#8211; (JPY) National Core CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:30 PM GMT &#8211; (JPY) Tokyo Core CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:50 PM GMT &#8211; (JPY) Monetary Policy Meeting Minutes<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:50 PM GMT &#8211; (JPY) SPPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">All day &#8211; WEF Annual Meetings<\/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 -1.11%, Shanghai Composite up 0.07 %, Hang Seng lost 0.24 %, ASX down 0.08% Commodities: Gold at $1364.20 (+0.58%), Silver at $17.67 (+1.03%), WTI Oil at $66.27 (+1.01 %), Brent Oil at $71.02 (+0.69 %) Rates: US 10-year yield at 2.637, UK 10-year yield at 1.407, German 10-year &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/thursday-25th-january-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Thursday 25th January: 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-24819","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\/24819","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=24819"}],"version-history":[{"count":3,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/24819\/revisions"}],"predecessor-version":[{"id":24823,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/24819\/revisions\/24823"}],"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=24819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=24819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=24819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}