{"id":20167,"date":"2017-02-27T10:47:39","date_gmt":"2017-02-27T05:17:39","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=20167"},"modified":"2017-02-27T10:47:39","modified_gmt":"2017-02-27T05:17:39","slug":"monday-27th-february-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/monday-27th-february-european-open-briefing\/","title":{"rendered":"Monday 27th 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 0.85 %, Shanghai Composite fell 0.30 %, Hang Seng rose 0.10 %, ASX 200 lost 0.30 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1257 (+0.10 %), Silver at $18.43 (+0.10 %), WTI Oil at $54.25 (+0.45 %), Brent Oil at $56.60 (+0.50 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.34, UK 10-year yield at 1.08, German 10-year yield at 0.18\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAustralian Inventories Q4 0.3% (QoQ) (Prev 0.5%)\n\t<\/li>\n<li>\n\t\tAustralian Company Operating Profit Q4 20.1% (QoQ) (prev 1.0%)\n\t<\/li>\n<li>\n\t\tPBoC Fixes USDCNY Reference Rate At 6.8814 (prev fix 6.8655 prev close 6.8700)\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>CFTC Positioning Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tEUR short 58K vs 47K short last week. Shorts increased by 11K\n\t<\/li>\n<li>\n\t\tGBP short 66K vs 67K short last week. Shorts trimmed by 1K\n\t<\/li>\n<li>\n\t\tJPY short 50K vs 51K short last week. Shorts trimmed by 1K\n\t<\/li>\n<li>\n\t\tCHF short 9K vs 11K short last week. Shorts trimmed by 2K\n\t<\/li>\n<li>\n\t\tCAD long 25K vs 19K long.&nbsp; Longs increased by 6K\n\t<\/li>\n<li>\n\t\tAUD long 33K vs 24K long.&nbsp; Longs increased by 9K\n\t<\/li>\n<li>\n\t\tNZD long 3K vs long 3K last week.&nbsp; No change.\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe Pound came under pressure overnight amid renewed speculations about another Scottish independence referendum. GBP\/USD started the new trading week around 1.2460 and fell to a low of 1.2390 ahead of the Tokyo open. The pair later recovered to 1.2430.\n<\/p>\n<p>\n\tOther than that, the US Dollar had a rather mixed performance. The Australian Dollar was the strongest overnight, despite the risk-off sentiment in equity markets. AUD\/USD rose from 0.7665 at the open to a high of 0.7705. Meanwhile, EUR\/USD began the trading week at 1.0555 and rallied to 1.0575 later in the session.\n<\/p>\n<p>\n\tUSD\/JPY came under pressure along with the Nikkei and fell to 111.90. However, the pair managed to recover to 112.30. Resistance is now seen at 112.55 and 112.90.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone Consumer Confidence\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone Business Climate\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Durable Goods Orders\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; US Pending Home Sales\n\t<\/li>\n<li>\n\t\t16:00 GMT &#8211; FOMC Member Kaplan speaks\n\t<\/li>\n<li>\n\t\t21:45 GMT &#8211; New Zealand Trade Balance\n\t<\/li>\n<li>\n\t\t23:50 GMT &#8211; Japan Industrial Production\n\t<\/li>\n<li>\n\t\t23:50 GMT &#8211; Japan Retail Sales\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>The Week Ahead:<\/strong><br \/>\n<\/h4>\n<p>\n\t<u>Tuesday, February 28th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:00 GMT &#8211; Australian HIA New Home Sales\n\t<\/li>\n<li>\n\t\t00:00 GMT &#8211; Australian ANZ Business Confidence\n\t<\/li>\n<li>\n\t\t00:30 GMT &#8211; Australian Current Account\n\t<\/li>\n<li>\n\t\t07:45 GMT &#8211; French CPI\n\t<\/li>\n<li>\n\t\t07:45 GMT &#8211; French GDP\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Italian CPI\n\t<\/li>\n<li>\n\t\t<strong>13:30 GMT &#8211; US GDP<\/strong>\n\t<\/li>\n<li>\n\t\t14:45 GMT &#8211; US Chicago PMI\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; US CB Consumer Confidence\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; US Richmond Manufacturing Index\n\t<\/li>\n<li>\n\t\t20:00 GMT &#8211; FOMC Member Harker speaks\n\t<\/li>\n<li>\n\t\t20:30 GMT &#8211; FOMC Member Williams speaks\n\t<\/li>\n<li>\n\t\t<strong>21:00 GMT &#8211; US President Trump speaks<\/strong>\n\t<\/li>\n<li>\n\t\t22:30 GMT &#8211; Australian AIG Manufacturing Index\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Wednesday, March 1st<\/u>\n<\/p>\n<ul>\n<li>\n\t\t<strong>00:30 GMT &#8211; Australian GDP<\/strong>\n\t<\/li>\n<li>\n\t\t<strong>01:00 GMT &#8211; Chinese Manufacturing PMI<\/strong>\n\t<\/li>\n<li>\n\t\t<strong>01:00 GMT &#8211; Chinese Non-Manufacturing PMI<\/strong>\n\t<\/li>\n<li>\n\t\t<strong>01:45 GMT &#8211; Chinese Caixin Manufacturing PMI<\/strong>\n\t<\/li>\n<li>\n\t\t08:45 GMT &#8211; Italian Manufacturing PMI\n\t<\/li>\n<li>\n\t\t08:50 GMT &#8211; French Manufacturing PMI\n\t<\/li>\n<li>\n\t\t<strong>08:55 GMT &#8211; German Manufacturing PMI<\/strong>\n\t<\/li>\n<li>\n\t\t<strong>08:55 GMT &#8211; German Unemployment Change<\/strong>\n\t<\/li>\n<li>\n\t\t<strong>08:55 GMT &#8211; German Unemployment Rate<\/strong>\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; Euro Zone Manufacturing PMI\n\t<\/li>\n<li>\n\t\t<strong>09:30 GMT &#8211; UK Manufacturing PMI<\/strong>\n\t<\/li>\n<li>\n\t\t13:00 GMT &#8211; German CPI\n\t<\/li>\n<li>\n\t\t<strong>13:30 GMT &#8211; US Core PCE Price Index<\/strong>\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Personal Income\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Personal Spending\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; Canadian Current Account\n\t<\/li>\n<li>\n\t\t<strong>14:45 GMT &#8211; US Manufacturing PMI<\/strong>\n\t<\/li>\n<li>\n\t\t<strong>15:00 GMT &#8211; US ISM Manufacturing PMI<\/strong>\n\t<\/li>\n<li>\n\t\t<strong>15:00 GMT &#8211; Bank of Canada Interest Rate Decision<\/strong>\n\t<\/li>\n<li>\n\t\t15:30 GMT &#8211; US Crude Oil Inventories\n\t<\/li>\n<li>\n\t\t18:00 GMT &#8211; FOMC Member Kaplan speaks\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Thursday, March 2nd<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:30 GMT &#8211; Australian Building Approvals\n\t<\/li>\n<li>\n\t\t00:30 GMT &#8211; Australian Trade Balance\n\t<\/li>\n<li>\n\t\t06:45 GMT &#8211; Swiss GDP\n\t<\/li>\n<li>\n\t\t08:15 GMT &#8211; Swiss Retail Sales\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Construction PMI\n\t<\/li>\n<li>\n\t\t<strong>10:00 GMT &#8211; Euro Zone CPI<\/strong>\n\t<\/li>\n<li>\n\t\t<strong>10:00 GMT &#8211; Euro Zone Unemployment Rate<\/strong>\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Initial Jobless Claims\n\t<\/li>\n<li>\n\t\t<strong>13:30 GMT &#8211; Canadian GDP<\/strong>\n\t<\/li>\n<li>\n\t\t23:30 GMT &#8211; Japanese CPI\n\t<\/li>\n<li>\n\t\t23:30 GMT &#8211; Japanese Household Spending\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Friday, March 3rd<\/u>\n<\/p>\n<ul>\n<li>\n\t\t01:45 GMT &#8211; Chinese Caixin Services PMI\n\t<\/li>\n<li>\n\t\t07:00 GMT &#8211; German Retail Sales\n\t<\/li>\n<li>\n\t\t08:45 GMT &#8211; Italian Services PMI\n\t<\/li>\n<li>\n\t\t08:50 GMT &#8211; French Services PMI\n\t<\/li>\n<li>\n\t\t<strong>08:55 GMT &#8211; German Services PMI<\/strong>\n\t<\/li>\n<li>\n\t\t<strong>09:00 GMT &#8211; Euro Zone Services PMI<\/strong>\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; Italian GDP\n\t<\/li>\n<li>\n\t\t<strong>09:30 GMT &#8211; UK Services PMI<\/strong>\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone Retail Sales\n\t<\/li>\n<li>\n\t\t<strong>14:45 GMT &#8211; US Services PMI<\/strong>\n\t<\/li>\n<li>\n\t\t<strong>15:00 GMT &#8211; US ISM Non-Manufacturing PMI<\/strong>\n\t<\/li>\n<li>\n\t\t<strong>18:00 GMT &#8211; Fed Chair Yellen speaks<\/strong>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.85 %, Shanghai Composite fell 0.30 %, Hang Seng rose 0.10 %, ASX 200 lost 0.30 % Commodities: Gold at $1257 (+0.10 %), Silver at $18.43 (+0.10 %), WTI Oil at $54.25 (+0.45 %), Brent Oil at $56.60 (+0.50 %) Rates: US 10-year yield at 2.34, UK 10-year &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/monday-27th-february-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 27th 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-20167","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\/20167","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=20167"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/20167\/revisions"}],"predecessor-version":[{"id":20168,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/20167\/revisions\/20168"}],"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=20167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=20167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=20167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}