{"id":20465,"date":"2017-03-21T10:34:03","date_gmt":"2017-03-21T05:04:03","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=20465"},"modified":"2017-03-21T10:34:03","modified_gmt":"2017-03-21T05:04:03","slug":"tuesday-21st-march-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/tuesday-21st-march-european-open-briefing\/","title":{"rendered":"Tuesday 21st 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 0.35 %, Shanghai Composite gained 0.20 %, Hang Seng rose 0.40 %, ASX 200 lost 0.10 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1228 (-0.45 %), Silver at $17.36 (-0.45 %), WTI Oil at $49.10 (+0.40 %), Brent Oil at $51.90 (+0.50 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.48, UK 10-year yield at 1.24, German 10-year yield at 0.44\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAustralia ANZ Roy Morgan Weekly Consumer Confidence Index Mar 20: 112.0 (Prior 113.1)\n\t<\/li>\n<li>\n\t\tAustralia House Price Index QoQ Q4: 4.1% (Prior 1.50%)\n\t<\/li>\n<li>\n\t\tAustralia House Price Index YoY Q4:7.7% (Prior 3.50%)\n\t<\/li>\n<li>\n\t\tPBoC Fixes USDCNY Reference Rate At 6.9071 (Prev 6.8998)\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>RBA Meeting Minutes:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tJudged steady policy consistent with growth and inflation targets\n\t<\/li>\n<li>\n\t\tA rising AUD would complicate economic transition\n\t<\/li>\n<li>\n\t\tRecent data suggested a &quot;build-up of risks&quot; in the housing market\n\t<\/li>\n<li>\n\t\tHome prices strong and rising briskly in Sydney and Melbourne\n\t<\/li>\n<li>\n\t\tHome investment borrowing had picked up, debt rising faster than household incomes\n\t<\/li>\n<li>\n\t\tSlow growth in incomes could restrain consumption given high debt levels\n\t<\/li>\n<li>\n\t\tSoft GDP wage measure suggests very little labour cost pressure in economy\n\t<\/li>\n<li>\n\t\tWages growth, underlying inflation expected to rise only gradually\n\t<\/li>\n<li>\n\t\tStill difficult to assess momentum in labour market\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe Australian Dollar declined overnight as the RBA meeting minutes were considered rather dovish. Recent economic data out of Australia was weak too, especially the latest jobs market numbers. AUD\/USD fell from 0.7735 to a low of 0.77. The pair found solid support there and bounced back to 0.7710, where it consolidated into the Sydney session close. Key support is now seen at 0.7650\/60, while resistance lies at 0.7740, followed by 0.7780.\n<\/p>\n<p>\n\tUSD\/JPY came under pressure in the early Asian session, falling to 112.25. However, the pair caught a bid later and recovered to 112.80. Resistance is noted at 113.00, and decent selling interest lies around 113.50.\n<\/p>\n<p>\n\tThe Pound was sold yesterday, following the news that Brexit will officially start next week. However, that was already expected and the downside momentum quickly waned. GBP\/UD consolidated in a 1.2355-80 range in Asia. The focus now lies on the upcoming inflation data, which be released today at 09:30 GMT. The market is expecting an increase in the CPI numbers, from -0.5 % in January to +0.5 % in February.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t09:30 GMT &#8211; UK CPI\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; BoE Governor Carney speaks\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; FOMC Member Dudley speaks\n\t<\/li>\n<li>\n\t\t12:30 GMT &#8211; US Current Account\n\t<\/li>\n<li>\n\t\t12:30 GMT &#8211; Canadian Retail Sales\n\t<\/li>\n<li>\n\t\t16:00 GMT &#8211; FOMC Member George speaks\n\t<\/li>\n<li>\n\t\t22:00 GMT &#8211; FOMC Member Mester speaks\n\t<\/li>\n<li>\n\t\t23:50 GMT &#8211; Japanese Trade Balance\n\t<\/li>\n<li>\n\t\t23:50 GMT &#8211; BoJ Meeting Minutes\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.35 %, Shanghai Composite gained 0.20 %, Hang Seng rose 0.40 %, ASX 200 lost 0.10 % Commodities: Gold at $1228 (-0.45 %), Silver at $17.36 (-0.45 %), WTI Oil at $49.10 (+0.40 %), Brent Oil at $51.90 (+0.50 %) Rates: US 10-year yield at 2.48, UK 10-year &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/tuesday-21st-march-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 21st 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-20465","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\/20465","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=20465"}],"version-history":[{"count":2,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/20465\/revisions"}],"predecessor-version":[{"id":20467,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/20465\/revisions\/20467"}],"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=20465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=20465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=20465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}