{"id":21160,"date":"2017-05-15T10:42:33","date_gmt":"2017-05-15T05:12:33","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=21160"},"modified":"2017-05-15T10:43:32","modified_gmt":"2017-05-15T05:13:32","slug":"monday-15th-may-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/monday-15th-may-european-open-briefing\/","title":{"rendered":"Monday 15th 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 0.20 %, Shanghai Composite gained 0.30 %, Hang Seng rose 0.70 %, ASX 200 lost 0.10 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1230 (+0.20 %), Silver at $16.52 (+0.70 %), WTI Oil at $48.65 (+1.70 %), Brent Oil at $51.70 (+1.70 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.33, UK 10-year yield at 1.10, German 10-year yield at 0.39\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tChina Industrial Production 6.5 % vs 7.1 % expected\n\t<\/li>\n<li>\n\t\tChina Retail Sales 10.7 % vs 10.6 % expected\n\t<\/li>\n<li>\n\t\tChina Fixed Asset Investment 8.9 % vs 9.1 % expected\n\t<\/li>\n<li>\n\t\tNew Zealand Retail Sales q\/q 1.5 % vs 1.1 % expected\n\t<\/li>\n<li>\n\t\tNew Zealand Core Retail Sales q\/q 1.2 % vs 0.9 % expected\n\t<\/li>\n<li>\n\t\tJapan PPI m\/m 0.2 % vs -0.1 % expected\n\t<\/li>\n<li>\n\t\tJapan PPI y\/y 2.1 % vs 1.8 % expected\n\t<\/li>\n<li>\n\t\tAustralia Home Loans -0.5 % vs 0.1 % expected\n\t<\/li>\n<li>\n\t\tPBOC sets USD\/CNY central rate at 6.8852 (vs. Friday at 6.8948)\n\t<\/li>\n<li>\n\t\tRussia&#39;s Novak: Russia And Saudi Agree Output Cuts Need to Be Extended Until March 2018\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>CFTC Positioning Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n<p>\n\t\t\tEUR long 22K vs 2K short last week. Longs increased by 24K\n\t\t<\/p>\n<\/li>\n<li>\n\t\tGBP short 47K vs 81K short last week. Shorts trimmed by 34K\n\t<\/li>\n<li>\n\t\tJPY short 36K vs 30K short last week. Shorts increased by 6K\n\t<\/li>\n<li>\n\t\tCHF short 15K vs 18K short last week. Shorts trimmed by 3K\n\t<\/li>\n<li>\n\t\tCAD short 86K vs 48K short.&nbsp; Shorts increased by 38K\n\t<\/li>\n<li>\n\t\tAUD long 26K vs 43K long.&nbsp; Longs cut 17K\n\t<\/li>\n<li>\n\t\tNZD short 11K vs 12K short last week.&nbsp; Shorts trimmed by 1K\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tMarkets did not react to the news about another North Korean missile test. Asian stock markets had a solid performance overall, and commodity currencies rose overnight, indicating that risk appetite remains intact for now.\n<\/p>\n<p>\n\tEUR\/USD opened in Asia around 1.0930, unchanged from Friday&#39;s close. The currency rose on Friday on rumours that the ECB might signal the end of its ultra-loose monetary policy this summer. However, those are still only rumours. EUR\/USD faces resistance at 1.0950, followed by 1.10.\n<\/p>\n<p>\n\tUSD\/JPY recovered slightly overnight. Resistance is now seen at the former support area between 113.70 and 113.80. Key support is noted at 113. Should USD\/JPY break below it, further losses towards 112.20 seem likely.\n<\/p>\n<p>\n\tAUD\/USD traded in a 0.7385-0.74 range overnight. Resistance at 0.7420\/25 has proven to be strong. A clear break above it would then signal a move towards 0.75 though.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t10:00 BST &#8211; Italian CPI\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US NY Empire State Manufacturing Index\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US NAHB Housing Market Index\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>The Week Ahead:<\/strong><br \/>\n<\/h4>\n<p>\n\t<u>Tuesday, May 16th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t02:30 BST &#8211; RBA Meeting Minutes\n\t<\/li>\n<li>\n\t\t07:45 BST &#8211; French CPI\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; Italian GDP\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK GDP\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; German ZEW Economic Sentiment\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone GDP\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone ZEW Economic Sentiment\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Housing Starts\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Building Permits\n\t<\/li>\n<li>\n\t\t14:15 BST &#8211; US Industrial Production\n\t<\/li>\n<li>\n\t\t14:15 BST &#8211; US Manufacturing Production\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Wednesday, May 17th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t01:30 BST &#8211; Australian Westpac Consumer Sentiment\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Claimant Count Change\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Unemployment Rate\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone CPI\n\t<\/li>\n<li>\n\t\t15:30 BST &#8211; US Crude Oil Inventories\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Thursday, May 18th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:50 BST &#8211; Japanese GDP\n\t<\/li>\n<li>\n\t\t02:30 BST &#8211; Australian Unemployment Rate\n\t<\/li>\n<li>\n\t\t02:30 BST &#8211; Australian Employment Change\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Retail Sales\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Philadelphia Fed Manufacturing Index\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US CB Leading Index\n\t<\/li>\n<li>\n\t\t18:00 BST &#8211; ECB President Draghi speaks\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Friday, May 19th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t07:00 BST &#8211; German PPI\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; Euro Zone Current Account\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; Canadian CPI\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; Canadian Retail Sales\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; Euro Zone Consumer Confidence\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.20 %, Shanghai Composite gained 0.30 %, Hang Seng rose 0.70 %, ASX 200 lost 0.10 % Commodities: Gold at $1230 (+0.20 %), Silver at $16.52 (+0.70 %), WTI Oil at $48.65 (+1.70 %), Brent Oil at $51.70 (+1.70 %) Rates: US 10-year yield at 2.33, UK 10-year &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/monday-15th-may-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 15th 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-21160","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\/21160","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=21160"}],"version-history":[{"count":2,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21160\/revisions"}],"predecessor-version":[{"id":21162,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21160\/revisions\/21162"}],"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=21160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=21160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=21160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}