{"id":21178,"date":"2017-05-16T10:05:52","date_gmt":"2017-05-16T04:35:52","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=21178"},"modified":"2017-05-16T10:05:52","modified_gmt":"2017-05-16T04:35:52","slug":"tuesday-16th-may-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/tuesday-16th-may-european-open-briefing\/","title":{"rendered":"Tuesday 16th 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 0.15 %, Shanghai Composite fell 0.35 %, Hang Seng lost 0.20 %, ASX 200 gained 0.20 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1234 (+0.35 %), Silver at $16.70 (+0.35 %), WTI Oil at $49.05 (+0.40 %), Brent Oil at $52.00 (+0.40 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.33, UK 10-year yield at 1.15, German 10-year yield at 0.42\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAustralia ANZ Roy Morgan Weekly Consumer Confidence Index: 109.4 (prior 112.3)\n\t<\/li>\n<li>\n\t\tAustralia New Motor Vehicle Sales (YoY) Apr: 0.1%, Prior (-3.00%)\n\t<\/li>\n<li>\n\t\tAustralia New Motor Vehicle Sales (MoM) Apr: 0.3%, Prior (1.90%)\n\t<\/li>\n<li>\n\t\tRBA: Judged steady rates consistent with achieving sustainable growth and inflation target\n\t<\/li>\n<li>\n\t\tRBA: Developments in labour and housing markets warrant &quot;careful monitoring&quot;\n\t<\/li>\n<li>\n\t\tRBA: Housing credit growth continue to outpace income rise, suggesting higher risks associated with household balance sheets\n\t<\/li>\n<li>\n\t\tRBA: Low wage growth, strong retail competition continues to have &quot;dampening effect&quot; on aggregate inflation\n\t<\/li>\n<li>\n\t\tRBA: A rise in A$ would complicate economic adjustment\n\t<\/li>\n<li>\n\t\tAsian stocks set to rise on U.S. cues; oil higher &#8211; RTRS\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe US Dollar came slightly under pressure following a report that US President Trump told the Russian Foreign Minister confidential information at their last meeting. USD\/JPY fell from 113.75 to a low of 113.40. Meanwhile, the Euro is extending gains and reached 1.0990. The charts are looking increasingly bullish. Should EUR\/USD break back above 1.10, a rally towards 1.11 seems likely.\n<\/p>\n<p>\n\tThe Pound had a mixed performance in the past days. The recent Bank of England meeting is still weighing on the currency. Heavy resistance is seen ahead of the 1.30 level, but GBP\/USD has been able to stay bid for now. Support is seen at 1.2880 and 1.2840.\n<\/p>\n<p>\n\tAUD\/USD remains weak. Resistance ahead of 0.7450 proved to be strong yesterday, and the pair retraced the recent gains in Asia. A break back below 0.74 would signal a retest of 0.7340 support.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\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","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.15 %, Shanghai Composite fell 0.35 %, Hang Seng lost 0.20 %, ASX 200 gained 0.20 % Commodities: Gold at $1234 (+0.35 %), Silver at $16.70 (+0.35 %), WTI Oil at $49.05 (+0.40 %), Brent Oil at $52.00 (+0.40 %) Rates: US 10-year yield at 2.33, UK 10-year &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/tuesday-16th-may-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 16th 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-21178","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\/21178","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=21178"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21178\/revisions"}],"predecessor-version":[{"id":21179,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21178\/revisions\/21179"}],"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=21178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=21178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=21178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}