{"id":20089,"date":"2017-02-22T12:24:56","date_gmt":"2017-02-22T06:54:56","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=20089"},"modified":"2017-02-22T12:24:56","modified_gmt":"2017-02-22T06:54:56","slug":"wednesday-22nd-february-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/wednesday-22nd-february-european-open-briefing\/","title":{"rendered":"Wednesday 22nd February: 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 0.10 %; Shanghai Composite lost 0.15 %, hang Seng gained 0.80 %, ASX 200 rose 0.15 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1236 (-0.20 %), Silver at $17.98 (-0.15 %), WTI Oil at $54.50 (+0.30 %), Brent Oil at $56.90 (+0.40 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.45, UK 10-year yield at 1.24, German 10-year yield at 0.30\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAustralia Wage Price Index (QoQ) Q4: 0.5% (est 0.5% prev 0.40%)\n\t<\/li>\n<li>\n\t\tAustralia Wage Price Index (YoY) Q4: 1.9% (est 1.9% prev 1.90%)\n\t<\/li>\n<li>\n\t\tAustralia Construction Work Done (QoQ) Q4: -0.2% (est 0.3% prev -4.90%)\n\t<\/li>\n<li>\n\t\tAustralia Skilled Vacancies (MoM) Jan: 1.0% (prev 0.20%)\n\t<\/li>\n<li>\n\t\tChina House Prices (YoY) Jan: 12.2% (prev 12.4%)\n\t<\/li>\n<li>\n\t\tPBoC Fixes USDCNY Reference Rate At 6.8830 (prev fix 6.8790 prev close 6.8810)\n\t<\/li>\n<li>\n\t\tFed&rsquo;s Mester: Comfortable with Interest Rates Going Higher\n\t<\/li>\n<li>\n\t\tMester: Don&#39;t Wait to Wait Too Long on Tightening Rates, Gradual Path Leads to Better Outcome\n\t<\/li>\n<li>\n\t\tRBA Gov Lowe: Policy Balancing Risks of Low Inflation Vs High Household Debt\n\t<\/li>\n<li>\n\t\tLowe: Does See Risk That Encouraging More Borrowing Would Lead to Consumer Downturn\n\t<\/li>\n<li>\n\t\tLowe: Households Coping Reasonably Well with High Debt, But Is Affecting Spending\n\t<\/li>\n<li>\n\t\tLowe: To Date, Satisfied That Labour Market Heading in Right Direction\n\t<\/li>\n<li>\n\t\tLowe: Liaison Suggests Wages Growth Has Bottomed, But A Pick Up Is Not Imminent\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe US Dollar weakened slightly overnight as the market lowered its expectations for tonight&#39;s FOMC minutes. Traders are not expecting any surprises from the Federal Reserve, and it is likely that the comments will be in line with the previous one&#39;s made in the past few weeks by various FOMC members.\n<\/p>\n<p>\n\tEUR\/USD recovered from 1.0530 to 1.0555 overnight. The outlook remains negative, and resistance can now be expected in the 1.0600-20 area. Concerns about the upcoming elections in France are likely to keep the Euro under pressure.\n<\/p>\n<p>\n\tUSD\/JPY fell from 113.70 to 113.30 in Asia. While it had a solid bounce off 112.55 support, the technical outlook remains negative. Only a clear break above 115 would switch techs back to positive and pave the way for a larger short squeeze.\n<\/p>\n<p>\n\tThe Australian Dollar is again struggling with 0.77 resistance. AUD\/USD has been stuck in a 115 pips range this month, and given the lack of economic data out of Australia this week, further consolidation seems likely.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t09:00 GMT &#8211; Italian CPI\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; German IFO Business Climate\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; German IFO Business Expectations\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK GDP\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone CPI\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; Canadian Retail Sales\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; US Existing Home Sales\n\t<\/li>\n<li>\n\t\t18:00 GMT &#8211; FOMC Member Powell speaks\n\t<\/li>\n<li>\n\t\t19:00 GMT &#8211; FOMC Meeting Minutes\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.10 %; Shanghai Composite lost 0.15 %, hang Seng gained 0.80 %, ASX 200 rose 0.15 % Commodities: Gold at $1236 (-0.20 %), Silver at $17.98 (-0.15 %), WTI Oil at $54.50 (+0.30 %), Brent Oil at $56.90 (+0.40 %) Rates: US 10-year yield at 2.45, UK 10-year &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/wednesday-22nd-february-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 22nd February: 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-20089","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/20089","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/comments?post=20089"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/20089\/revisions"}],"predecessor-version":[{"id":20090,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/20089\/revisions\/20090"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/12469"}],"wp:attachment":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=20089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=20089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=20089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}