{"id":21122,"date":"2017-05-11T08:34:07","date_gmt":"2017-05-11T03:04:07","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=21122"},"modified":"2017-05-12T08:34:28","modified_gmt":"2017-05-12T03:04:28","slug":"thursday-11th-may-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/thursday-11th-may-european-open-briefing\/","title":{"rendered":"Thursday 11th 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: Nikkei up 0.20 %, Shanghai Composite fell 0.40 %, Hang Seng gained 0.35 %, ASX 200 rallied 0.30 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1220 (+0.10 %), Silver at $16.27 (+0.40 %), WTI Oil at $47.55 (+0.45 %), Brent Oil at $50.40 (+0.40 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.40, UK 10 year yield at 1.17, German 10 year yield at 0.43\n\t<\/li>\n<\/ul>\n<p>\n\t&nbsp;\n<\/p>\n<h4>\n\t<strong>News &amp; Data<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tJapan BoP Current Account Adjusted (JPY) Mar: 1.731T, Prior (2.21T)\n\t<\/li>\n<li>\n\t\tJapan BoP Current Account Balance (JPY) Mar: 2.907T, Prior (2.814T)\n\t<\/li>\n<li>\n\t\tUK RICS House Price Balance Apr: 22, Est. (20), Prior (22)\n\t<\/li>\n<li>\n\t\tPBoC Fixes USDCNY Reference Rate At 6.9051 (prev fix: 6.9066)\n\t<\/li>\n<li>\n\t\tNZ RBNZ Keeps Key Interest Rate Unchanged At 1.75%\n\t<\/li>\n<li>\n\t\tRBNZ Wheeler: Expect OCT to remain at 1.75% for foreseeable future\n\t<\/li>\n<\/ul>\n<p>\n\t&nbsp;\n<\/p>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe Reserve Bank of New Zealand kept rates unchanged as expected. However, the comments from RBNZ Governor Wheeler were more dovish than traders anticipated. After solid NZ economic data in the past months, the market was looking forward to a slight hawkish shift. However, the central bank signalled that rates are likely to remain near current levels for some time.\n<\/p>\n<p>\n\tNZD\/USD came under pressure immediately after the statement was released. The pair fell from 0.6940 to 0.6830 and later extended losses to 0.6817. The charts suggest further losses are ahead and the next important support level now lies at 0.67.\n<\/p>\n<p>\n\tThe Australian Dollar followed the NZD lower. AUD\/USD declined from 0.7370 to 0.7330, although AUD\/NZD buying prevented a larger loss. Meanwhile, EUR\/USD and GBP\/USD were quiet as usual in Asia.\n<\/p>\n<p>\n\tTraders are now looking forward to the Bank of England rate decision. No changes are expected, but the central bank will release its inflation report along with the statement.\n<\/p>\n<p>\n\t&nbsp;\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t08:15 BST &#8211; Swiss CPI\n\t<\/li>\n<li>\n\t\t08:30 BST &#8211; SNB Chairman Jordan speaks\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Industrial Production\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Manufacturing Production\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Trade Balance\n\t<\/li>\n<li>\n\t\t12:00 BST &#8211; Bank of England Rate Decision\n\t<\/li>\n<li>\n\t\t12:00 BST &#8211; Bank of England Meeting Minutes\n\t<\/li>\n<li>\n\t\t12:00 BST &#8211; Bank of England Inflation Report\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Initial Jobless Claims\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US PPI\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.20 %, Shanghai Composite fell 0.40 %, Hang Seng gained 0.35 %, ASX 200 rallied 0.30 % Commodities: Gold at $1220 (+0.10 %), Silver at $16.27 (+0.40 %), WTI Oil at $47.55 (+0.45 %), Brent Oil at $50.40 (+0.40 %) Rates: US 10 year yield at 2.40, UK &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/thursday-11th-may-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Thursday 11th 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-21122","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\/21122","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=21122"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21122\/revisions"}],"predecessor-version":[{"id":21123,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21122\/revisions\/21123"}],"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=21122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=21122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=21122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}