{"id":20978,"date":"2017-05-03T10:14:24","date_gmt":"2017-05-03T04:44:24","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=20978"},"modified":"2017-05-03T10:14:24","modified_gmt":"2017-05-03T04:44:24","slug":"wednesday-3rd-may-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/wednesday-3rd-may-european-open-briefing\/","title":{"rendered":"Wednesday 3rd May: European Open Briefing"},"content":{"rendered":"<h4>\n\t<strong>Global Markets:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAsian stock markets: Shanghai Composite down 0.35 %, ASX 200 lost 1.00 %, Nikkei and Hang Seng closed for holiday\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1257 (+0.05 %), Silver at $16.91 (+0.50 %), WTI Oil at $48.10 (+0.85 %), Brent Oil at $50.95 (+1.00 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.29, UK 10-year yield at 1.09, German 10-year yield at 0.32\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAustralian AIG Services Index Apr: 53.0 (prev 51.7)\n\t<\/li>\n<li>\n\t\tNew Zealand Employment Change (QoQ) Q1: 1.2% (exp 0.8%; prev 0.8%; rev prev 0.7%)\n\t<\/li>\n<li>\n\t\tNew Zealand (YoY) Q1: 5.7% (exp 5.3%; prev 5.8%)\n\t<\/li>\n<li>\n\t\tNew Zealand Unemployment Rate Q1: 4.9% (exp 5.1%; prev 5.2%)\n\t<\/li>\n<li>\n\t\tNew Zealand Participation Rate Q1: 70.6% (exp 70.5%; prev 70.5%)\n\t<\/li>\n<li>\n\t\tPBoC Fixes USDCNY Reference Rate At 6.8892 (prev fix 6.8946 prev close 6.8965)\n\t<\/li>\n<li>\n\t\tAsia stocks ride global momentum, dollar up on June Fed rate hike bets &#8211; RTRS\n\t<\/li>\n<li>\n\t\tOil rebounds on U.S. stocks drawdown, declining OPEC compliance weighs &#8211; RTRS\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tFlows were light in the Asian session, as Japanese and Hong Kong markets were closed. Meanwhile, Chinese and Australian stock markets declined.\n<\/p>\n<p>\n\tIn FX, the New Zealand Dollar rose after stronger than expected employment data. The unemployment rate fell from 5.2 % to 4.9 %. NZD\/USD rose from 0.6930 to 0.6970. A break above 0.6980 resistance would suggest that the currency pair is likely to recover further. The next notable resistance level then lies at 0.7050.\n<\/p>\n<p>\n\tThe Australian Dollar failed to follow the NZD higher. AUD\/USD fell from 0.7545 to 0.7505, and some pressure came also from AUD\/NZD selling.\n<\/p>\n<p>\n\tThe US central bank will decide on interest rates today. No changes are expected, and it is unlikely that there will be a surprise. There will be no press conference for today, but the FOMC will release a statement at 19:00 BST.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t08:55 BST &#8211; German Unemployment Rate\n\t<\/li>\n<li>\n\t\t08:55 BST &#8211; German Unemployment Change\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Construction PMI\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone GDP\n\t<\/li>\n<li>\n\t\t13:15 BST &#8211; US ADP Nonfarm Employment Change\n\t<\/li>\n<li>\n\t\t14:45 BST &#8211; US Services PMI\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US ISM Non-Manufacturing PMI\n\t<\/li>\n<li>\n\t\t15:30 BST &#8211; US Crude Oil Inventories\n\t<\/li>\n<li>\n\t\t19:00 BST &#8211; Federal Reserve Rate Decision\n\t<\/li>\n<li>\n\t\t19:00 BST &#8211; FOMC Statement\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Shanghai Composite down 0.35 %, ASX 200 lost 1.00 %, Nikkei and Hang Seng closed for holiday Commodities: Gold at $1257 (+0.05 %), Silver at $16.91 (+0.50 %), WTI Oil at $48.10 (+0.85 %), Brent Oil at $50.95 (+1.00 %) Rates: US 10-year yield at 2.29, UK 10-year yield at &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/wednesday-3rd-may-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 3rd May: 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-20978","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\/20978","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=20978"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/20978\/revisions"}],"predecessor-version":[{"id":20979,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/20978\/revisions\/20979"}],"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=20978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=20978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=20978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}