{"id":20248,"date":"2017-03-06T10:43:19","date_gmt":"2017-03-06T05:13:19","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=20248"},"modified":"2017-03-06T10:43:19","modified_gmt":"2017-03-06T05:13:19","slug":"monday-6th-march-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/monday-6th-march-european-open-briefing\/","title":{"rendered":"Monday 6th March: 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 0.50 %, Shanghai Composite gained 0.40 %, Hang Seng and ASX both rose 0.30 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1234 (+0.60 %), Silver at $17.90 (+0.85 %), WTI Oil at $53.10 (-0.45 %), Brent Oil at $55.70 (-0.40 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.47, UK 10-year yield at 1.18, German 10-year yield at 0.36\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAustralia Retail Sales (MoM) (Jan) 0.40% (est 0.40%, prev -0.10%)\n\t<\/li>\n<li>\n\t\tAustralia Melbourne Institute Inflation Gauge (Feb) MoM: -0.30% (prev 0.60%)\n\t<\/li>\n<li>\n\t\tAustralia Melbourne Institute Inflation Gauge (Feb) YoY: 2.10% (prev 2.10%)\n\t<\/li>\n<li>\n\t\tStocks drop as markets wary of Fed, geopolitical tensions &#8211; RTRS\n\t<\/li>\n<li>\n\t\tOil prices fall on doubts over Russian output curbs &#8211; RTRS\n\t<\/li>\n<li>\n\t\tDollar on back foot, slips from rate rise-inspired peak &#8211; RTRS\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 51K vs 58K short last week. Shorts trimmed by 7K\n\t<\/li>\n<li>\n\t\tGBP short 71K vs 66K short last week. Shorts increased by 5K\n\t<\/li>\n<li>\n\t\tJPY short 50K vs 50K short last week. No change\n\t<\/li>\n<li>\n\t\tCHF short 12K vs 9K short last week. Shorts increased by 3K\n\t<\/li>\n<li>\n\t\tCAD long 30K vs 25K long.&nbsp; Longs increased by 5K\n\t<\/li>\n<li>\n\t\tAUD long 52K vs 33K long.&nbsp; Longs increased by 19K\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\tRisk appetite decreased somewhat after news that North Korea has fired four ballistic missiles, of which three landed in Japanese waters. S&amp;P 500 futures declined, while the Yen was in demand.\n<\/p>\n<p>\n\tUSD\/JPY started the day around 114.15, and declined to 113.70 during the session. Support is now seen at 113.50, followed by 112.80. Resistance lies at 114.70 and 115.50.\n<\/p>\n<p>\n\tEUR\/USD opened slightly lower in Asia, but quickly filled the gap and rose to a high of 1.0620. Later in the session, it fell back to 1.0600. Key resistance is seen at 1.0670, while support lies at 1.0540\/50.\n<\/p>\n<p>\n\tGBP\/USD consolidated in a 1.2280-1.23 range in Asia. The Pound came under pressure on Friday following weak services PMI data.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t09:10 GMT &#8211; Euro Zone Retail PMI\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; US Factory Orders\n\t<\/li>\n<li>\n\t\t20:00 GMT &#8211; FOMC Member Kashkari speaks\n\t<\/li>\n<li>\n\t\t22:30 GMT &#8211; Australia AIG Construction Index\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>The Week Ahead:<\/strong><br \/>\n<\/h4>\n<p>\n\t<u>Tuesday, March 7th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t03:30 GMT &#8211; RBA Interest Rate Decision\n\t<\/li>\n<li>\n\t\t07:00 GMT &#8211; German Factory Orders\n\t<\/li>\n<li>\n\t\t08:30 GMT &#8211; UK Halifax House Price Index\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone GDP\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Trade Balance\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; Canadian Trade Balance\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; Canadian Ivey PMI\n\t<\/li>\n<li>\n\t\t23:50 GMT &#8211; Japanese GDP\n\t<\/li>\n<li>\n\t\t23:50 GMT &#8211; Japanese Current Account\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Wednesday, March 8th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t07:00 GMT &#8211; German Industrial Production\n\t<\/li>\n<li>\n\t\t07:45 GMT &#8211; French Trade Balance\n\t<\/li>\n<li>\n\t\t08:15 GMT &#8211; Swiss CPI\n\t<\/li>\n<li>\n\t\t13:15 GMT &#8211; US ADP Nonfarm Employment Change\n\t<\/li>\n<li>\n\t\t15:30 GMT &#8211; US Crude Oil Inventories\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Thursday, March 9th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t06:45 GMT &#8211; Swiss Unemployment Rate\n\t<\/li>\n<li>\n\t\t12:45 GMT &#8211; ECB Interest Rate Decision\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; ECB Press Conference\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Initial Jobless Claims\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Friday, March 10th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:30 GMT &#8211; Australian Home Loans\n\t<\/li>\n<li>\n\t\t07:00 GMT &#8211; German Trade Balance\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Industrial Production\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Manufacturing Production\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Trade Balance\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Unemployment Rate\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US NFP\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US Average Hourly Earnings\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; Canadian Unemployment Rate\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; Canadian Employment Change\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; UK NIESR GDP Estimate\n\t<\/li>\n<li>\n\t\t20:30 GMT &#8211; US CFTC Positioning Data\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.50 %, Shanghai Composite gained 0.40 %, Hang Seng and ASX both rose 0.30 % Commodities: Gold at $1234 (+0.60 %), Silver at $17.90 (+0.85 %), WTI Oil at $53.10 (-0.45 %), Brent Oil at $55.70 (-0.40 %) Rates: US 10-year yield at 2.47, UK 10-year yield at &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/monday-6th-march-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 6th March: 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-20248","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\/20248","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=20248"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/20248\/revisions"}],"predecessor-version":[{"id":20249,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/20248\/revisions\/20249"}],"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=20248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=20248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=20248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}