{"id":20926,"date":"2017-04-28T10:15:38","date_gmt":"2017-04-28T04:45:38","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=20926"},"modified":"2017-04-28T10:15:38","modified_gmt":"2017-04-28T04:45:38","slug":"friday-28th-april-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/friday-28th-april-european-open-briefing\/","title":{"rendered":"Friday 28th April: 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 0.20 %, Shanghai Composite fell 0.35 %, Hang Seng declined 0.40 %, ASX 200 lost 0.15 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1266.30 (+0.05 %), Silver at $17.37 (+0.20 %), WTI Oil at $49.40 (+0.90 %), Brent Oil at $52.20 (+0.80 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.29, UK 10 year yield at 1.06, German 10 year yield at 0.30\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tJapan Mar National CPI (YoY): 0.2% Est. 0.3%\n\t<\/li>\n<li>\n\t\tJapan Mar National CPI Ex-Fresh Food (YoY): 0.2% Est. 0.2%\n\t<\/li>\n<li>\n\t\tJapan Mar Unemployment Rate: 2.8% Est. 2.90%\n\t<\/li>\n<li>\n\t\tJapan Mar Job\/Applications Ratio: 1.45 Est. 1.43\n\t<\/li>\n<li>\n\t\tJapan Mar P Industrial Production (MoM): -2.1% Est. -0.80%\n\t<\/li>\n<li>\n\t\tJapan Mar P Industrial Production (YoY): 3.3% Est. 3.90%\n\t<\/li>\n<li>\n\t\tJapan Mar Retail Sales (MoM): 0.2% Est. -0.30%\n\t<\/li>\n<li>\n\t\tJapan Mar Retail Sales (YoY): 2.1% Est. 0.5%\n\t<\/li>\n<li>\n\t\tAustralia Q1 PPI (YoY): 1.3%\n\t<\/li>\n<li>\n\t\tAustralia Q1 PPI (QoQ): 0.5%\n\t<\/li>\n<li>\n\t\tNew Zealand March Trade Balance NZD (MoM): 332m Est. 370m\n\t<\/li>\n<li>\n\t\tNew Zealand March Trade Balance NZD (YoY): -3.67bn Est. -3.706bn\n\t<\/li>\n<li>\n\t\tNew Zealand March Exports NZD (MoM): 4.65bn Est. 4.66bn\n\t<\/li>\n<li>\n\t\tNew Zealand March Exports NZD (YoY): 4.31bn Est. 4.016bn\n\t<\/li>\n<li>\n\t\tNew Zealand March Building Permits (MoM): 1.8%\n\t<\/li>\n<li>\n\t\tSouth Korea March Industrial Production (MoM): 1.5% Est. 1.5%\n\t<\/li>\n<li>\n\t\tSouth Korea March Industrial Production (YoY): 3.0% Est. 4%\n\t<\/li>\n<li>\n\t\tSouth Korea May Business Survey Manufacturing: 84\n\t<\/li>\n<li>\n\t\tSouth Korea May Business Survey Non-Manufacturing: 78\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe ECB kept rates and their QE programme unchanged, as expected by the market, but maintained their easing bias. This put the Euro under pressure again. EUR\/USD fell from 1.0920 to a low of 1.0857 in Asia. Key support is now seen at 1.0780, followed by the weekend gap at 1.0730.\n<\/p>\n<p>\n\tMeanwhile, the Pound is showing strength again, also party driven by strong cross flows (GBP buying against commodity currencies). GBP\/USD broke above 1.29 resistance and should test 1.30 soon. Further gains beyond that seem likely in the near-term.\n<\/p>\n<p>\n\tThe USD\/JPY rally has paused. Overnight, the pair consolidated in a 111.10-35 range. Should it break below 111 support, a retest of 110 seems likely. Overall, the downtrend is still alive, and the technical outlook for the pair negative.\n<\/p>\n<p>\n\tNZD\/USD is under a lot of pressure. It broke below key support at 0.6860, which suggests that losses will extend to at least 0.6670 in the near-term.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t06:30 GMT &#8211; French GDP\n\t<\/li>\n<li>\n\t\t07:00 GMT &#8211; German Retail Sales\n\t<\/li>\n<li>\n\t\t07:45 GMT &#8211; French CPI\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; SNB Chairman Jordan speaks\n\t<\/li>\n<li>\n\t\t09:30 GMT &#8211; UK GDP\n\t<\/li>\n<li>\n\t\t10:00 GMT &#8211; Euro Zone CPI\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; US GDP\n\t<\/li>\n<li>\n\t\t13:30 GMT &#8211; Canadian GDP\n\t<\/li>\n<li>\n\t\t15:00 GMT &#8211; US Michigan Consumer Sentiment\n\t<\/li>\n<li>\n\t\t14:45 GMT &#8211; US Chicago PMI\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.20 %, Shanghai Composite fell 0.35 %, Hang Seng declined 0.40 %, ASX 200 lost 0.15 % Commodities: Gold at $1266.30 (+0.05 %), Silver at $17.37 (+0.20 %), WTI Oil at $49.40 (+0.90 %), Brent Oil at $52.20 (+0.80 %) Rates: US 10 year yield at 2.29, UK &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/friday-28th-april-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Friday 28th April: 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-20926","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\/20926","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=20926"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/20926\/revisions"}],"predecessor-version":[{"id":20927,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/20926\/revisions\/20927"}],"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=20926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=20926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=20926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}