{"id":21158,"date":"2017-05-12T20:59:04","date_gmt":"2017-05-12T15:29:04","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=21158"},"modified":"2017-05-14T23:02:07","modified_gmt":"2017-05-14T17:32:07","slug":"friday-12th-may-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/friday-12th-may-european-open-briefing\/","title":{"rendered":"Friday 12th 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 down 0.60 %, Shanghai Composite gained 0.40 %, Hang Seng rose 0.05 %, ASX 200 fell 0.90 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1226 (+0.20 %), Silver at $16.40 (+0.85 %), WTI Oil at $47.90 (+0.20 %), Brent Oil at $50.85 (+0.15 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.38, UK 10-year yield at 1.16, German 10-year yield at 0.43\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tJapan M2 Money Stock (YoY) Apr: 4.3%, Prior (4.30%)\n\t<\/li>\n<li>\n\t\tJapan M3 Money Stock (YoY) Apr: 3.6%, Prior (3.60%)\n\t<\/li>\n<li>\n\t\tAustralia Credit Card Purchase (AUD) Mar: 27.4bn, Prior (24.4B)\n\t<\/li>\n<li>\n\t\tAustralia Credit Card Balances (AUD) Mar: 52.2bn, Prior (52.6B)\n\t<\/li>\n<li>\n\t\tNew Zealand Business NZ PMI Apr: 56.8, Prior: 57.8\n\t<\/li>\n<li>\n\t\tAsian shares edge up, on track for winning week &#8211; RTRS\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tOvernight, it was quiet in the FX market as most major pairs consolidated ahead of US inflation and retail sales data. The market is expecting slightly higher inflation numbers, as well as a recovery in retail sales compared to last month&rsquo;s release. Solid inflation data would likely push USD\/JPY towards 115, but disappointing figures could put the Dollar, which has been rising since the beginning of the week, under pressure. In that scenario, USD\/JPY is likely to fall back below 113.\n<\/p>\n<p>\n\tThe Euro is showing resilience. EUR\/USD broke below 1.0850 support yesterday, but managed to recover fairly quickly. In Asia, it rose back to 1.0870. It will likely be the US economic data today that will determine the short-term course for the pair.\n<\/p>\n<p>\n\tAUD\/USD is slowly rising as well. However, strong resistance lies ahead in the area between 0.74 and 0.7420. Should the pair break above that though, an extension of the recovery towards 0.75 seems likely.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t07:00 BST &#8211; German GDP\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone Industrial Production\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Retail Sales\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US CPI\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US Michigan Consumer Sentiment\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.60 %, Shanghai Composite gained 0.40 %, Hang Seng rose 0.05 %, ASX 200 fell 0.90 % Commodities: Gold at $1226 (+0.20 %), Silver at $16.40 (+0.85 %), WTI Oil at $47.90 (+0.20 %), Brent Oil at $50.85 (+0.15 %) Rates: US 10-year yield at 2.38, UK 10-year &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/friday-12th-may-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Friday 12th 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-21158","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\/21158","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=21158"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21158\/revisions"}],"predecessor-version":[{"id":21159,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21158\/revisions\/21159"}],"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=21158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=21158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=21158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}