{"id":20307,"date":"2017-03-09T10:22:42","date_gmt":"2017-03-09T04:52:42","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=20307"},"modified":"2017-03-09T10:22:42","modified_gmt":"2017-03-09T04:52:42","slug":"thursday-9th-march-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/thursday-9th-march-european-open-briefing\/","title":{"rendered":"Thursday 9th 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 up 0.30 %, Shanghai Composite fell 0.85 %, Hang Seng declined 1.20 %, ASX 200 lost 0.45 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1204 (-0.45 %), Silver at $17.19 (-0.60 %), WTI Oil at $50.60 (+0.65 %), Brent Oil at $54.55 (+0.85 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.56, UK 10 year yield at 1.22, German 10 year yield at 0.37\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tChina CPI (YoY) (Feb): 0.80% (est 1.70%, prev 2.50%)\n\t<\/li>\n<li>\n\t\tChina CPI (MoM) (Feb): -0.20% (est 0.60%, prev 1.00%)\n\t<\/li>\n<li>\n\t\tChina PPI (YoY) (Feb): 7.80% (est 7.70%, prev 6.90%)\n\t<\/li>\n<li>\n\t\tJapan M2 Money Stock (YoY) (Feb): 4.20% (est 4.20%, prev 4.10%)\n\t<\/li>\n<li>\n\t\tJapan M3 Money Stock (YoY) (Feb): 3.60% (est 3.60%, prev 3.50%)\n\t<\/li>\n<li>\n\t\tJapan Labour Cash Earnings (YoY) (Jan): 0.50% (est 0.40%, prev 0.50%)\n\t<\/li>\n<li>\n\t\tJapan Real Cash Earnings (YoY) (Jan): 0.00% (prev 0.10%)\n\t<\/li>\n<li>\n\t\tUK RICS House Price Balance (Feb): +24% (est +23%, prev rev +24%)\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe US Dollar is rallying again following stronger than expected ADP employment data yesterday. Expectations for a strong NFP number have increased, and the market is now looking for a number above 190k.\n<\/p>\n<p>\n\tEUR\/USD is slowly approaching the 1.05 level. Key support is now seen at 1.0450 and a break below would signal a test of the December low could follow soon. Meanwhile, USD\/JPY had a strong bounce off 113.60 support and rallied to 114.75 in yesterday&#39;s NY session. Resistance pre-115 remains solid, but if NFP beats expectations, it will likely test 115.50.\n<\/p>\n<p>\n\tAUD\/USD is testing key support around 0.75 and a break below would confirm the top at 0.7740, suggesting a correction to 0.73 could follow.\n<\/p>\n<p>\n\tOil had a big move in the late NY session. WTI declined from 53 to almost 50 after data from the EIA showed a large increase in oil inventories.\n<\/p>\n<p>\n\tThe main event today is the ECB rate decision. The central bank is expected to keep rates unchanged, but the focus will be on Mario Draghi&rsquo;s press conference and hints whether QE could end sooner than anticipated.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\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","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.30 %, Shanghai Composite fell 0.85 %, Hang Seng declined 1.20 %, ASX 200 lost 0.45 % Commodities: Gold at $1204 (-0.45 %), Silver at $17.19 (-0.60 %), WTI Oil at $50.60 (+0.65 %), Brent Oil at $54.55 (+0.85 %) Rates: US 10 year yield at 2.56, UK &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/thursday-9th-march-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Thursday 9th 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-20307","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\/20307","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=20307"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/20307\/revisions"}],"predecessor-version":[{"id":20308,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/20307\/revisions\/20308"}],"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=20307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=20307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=20307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}