{"id":20361,"date":"2017-03-13T12:46:09","date_gmt":"2017-03-13T07:16:09","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=20361"},"modified":"2017-03-13T12:46:09","modified_gmt":"2017-03-13T07:16:09","slug":"monday-13th-march-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/monday-13th-march-european-open-briefing\/","title":{"rendered":"Monday 13th 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 0.15 %, Shanghai Composite rose 0.75 %, Hang Seng gained 1.15 %, ASX 200 lost 0.20 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1210 (+0.70 %), Silver at $17.13 (+1.20 %), WTI Oil at $48.30, Brent Oil at $51.30\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.58, UK 10 year yield at 1.24, German 10 year yield at 0.48\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tJapan Machine Orders MoM (Jan): -3.20% (est -0.10%, prev 6.70%)\n\t<\/li>\n<li>\n\t\tJapan Machine Orders YoY (Jan): -8.20% (est -3.70%, prev 6.70%)\n\t<\/li>\n<li>\n\t\tAU Credit Card Balances (Jan): A$51.5bn (prev A$52.8bn)\n\t<\/li>\n<li>\n\t\tAU Credit Card Purchases (Jan): A$24.6bn (prev A$ 27.7bn)\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>CFTC Positioning Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tEUR net short 59k vs 51k previous\n\t<\/li>\n<li>\n\t\tGBP net short 81k vs 70k previous\n\t<\/li>\n<li>\n\t\tJPY net short 54k vs 50k previous\n\t<\/li>\n<li>\n\t\tAUD net long 51k vs 51k previous\n\t<\/li>\n<li>\n\t\tCAD net long 29k vs 30k previous\n\t<\/li>\n<li>\n\t\tCHF net short 10k vs 12k previous\n\t<\/li>\n<li>\n\t\tNZD net short 4k vs 3k previous\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe US Dollar weakened overnight. The US employment data on Friday was solid, but since the market is already counting on a rate hike on Wednesday, it is not enough to keep the USD rally going.\n<\/p>\n<p>\n\tThe Euro broke above the level of 1.07 in Asia. It cleared a major resistance area between 1.0670 and 1.0680, and this signals that the rally could extend to 1.0825 soon.\n<\/p>\n<p>\n\tMeanwhile, USD\/JPY is likely to face further pressure soon. Support is seen at 114.00\/20. Should it break below that, a deeper correction seems likely.\n<\/p>\n<p>\n\tThe Aussie Dollar bounced as well. The major support area between 0.75 and 0.7520 held, and it is on its way to test 0.76 again. Should it break above 0.7620 resistance, it could have another test of 0.7740 soon.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t09:00 GMT &#8211; Italian Industrial Production\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; ECB President Draghi speaks\n\t<\/li>\n<li>\n\t\t14:00 GMT &#8211; ECB Member Constancio speaks\n\t<\/li>\n<li>\n\t\t16:30 GMT &#8211; ECB Member Praet speaks\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>The Week Ahead:<\/strong><br \/>\n<\/h4>\n<p>\n\t<u>Tuesday, March 14th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t07:00 GMT &#8211; German CPI\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; German ZEW Economic Sentiment\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone Industrial Production\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone ZEW Economic Sentiment\n\t<\/li>\n<li>\n\t\t12:30 GMT &#8211; US PPI\n\t<\/li>\n<li>\n\t\t21:45 GMT &#8211; New Zealand Current Account\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Wednesday, March 15th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t07:45 GMT &#8211; French CPI\n\t<\/li>\n<li>\n\t\t08:15 GMT &#8211; Swiss PPI\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Unemployment Rate\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Claimant Count Change\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK Average Hourly Earnings\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Italian CPI\n\t<\/li>\n<li>\n\t\t12:30 GMT &#8211; US CPI\n\t<\/li>\n<li>\n\t\t12:30 GMT &#8211; US Retail Sales\n\t<\/li>\n<li>\n\t\t14:00 GMT &#8211; US NAHB Housing Market Index\n\t<\/li>\n<li>\n\t\t14:30 GMT &#8211; US Crude Oil Inventories\n\t<\/li>\n<li>\n\t\t18:00 GMT &#8211; Federal Reserve Rate Decision\n\t<\/li>\n<li>\n\t\t18:00 GMT &#8211; FOMC Statement\n\t<\/li>\n<li>\n\t\t18:30 GMT &#8211; FOMC Press Conference\n\t<\/li>\n<li>\n\t\t21:45 GMT &#8211; New Zealand GDP\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Thursday, March 16th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:30 GMT &#8211; Australian Employment Change\n\t<\/li>\n<li>\n\t\t00:30 GMT &#8211; Australian Unemployment Rate\n\t<\/li>\n<li>\n\t\t03:00 GMT &#8211; Bank of Japan Rate Decision\n\t<\/li>\n<li>\n\t\t06:30 GMT &#8211; Bank of Japan Press Conference\n\t<\/li>\n<li>\n\t\t08:30 GMT &#8211; SNB Rate Decision\n\t<\/li>\n<li>\n\t\t08:30 GMT &#8211; SNB Statement\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone CPI\n\t<\/li>\n<li>\n\t\t12:00 GMT &#8211; Bank of England Rate Decision\n\t<\/li>\n<li>\n\t\t12:30 GMT &#8211; US Building Permits\n\t<\/li>\n<li>\n\t\t12:30 GMT &#8211; US Housing Starts\n\t<\/li>\n<li>\n\t\t12:30 GMT &#8211; US Philadelphia Fed Manufacturing Index\n\t<\/li>\n<li>\n\t\t12:30 GMT &#8211; US Initial Jobless Claims\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Friday, March 17th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone Trade Balance\n\t<\/li>\n<li>\n\t\t12:30 GMT &#8211; Canadian Manufacturing Sales\n\t<\/li>\n<li>\n\t\t13:15 GMT &#8211; US Industrial Production\n\t<\/li>\n<li>\n\t\t13:15 GMT &#8211; US Manufacturing Production\n\t<\/li>\n<li>\n\t\t14:00 GMT &#8211; US CB Leading Index\n\t<\/li>\n<li>\n\t\t14:00 GMT &#8211; US Michigan Consumer Sentiment\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.15 %, Shanghai Composite rose 0.75 %, Hang Seng gained 1.15 %, ASX 200 lost 0.20 % Commodities: Gold at $1210 (+0.70 %), Silver at $17.13 (+1.20 %), WTI Oil at $48.30, Brent Oil at $51.30 Rates: US 10 year yield at 2.58, UK 10 year yield at &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/monday-13th-march-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 13th 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-20361","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\/20361","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=20361"}],"version-history":[{"count":2,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/20361\/revisions"}],"predecessor-version":[{"id":20363,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/20361\/revisions\/20363"}],"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=20361"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=20361"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=20361"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}