{"id":21193,"date":"2017-05-17T09:49:41","date_gmt":"2017-05-17T04:19:41","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=21193"},"modified":"2017-05-17T09:49:41","modified_gmt":"2017-05-17T04:19:41","slug":"wednesday-17th-may-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/wednesday-17th-may-european-open-briefing\/","title":{"rendered":"Wednesday 17th 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 lost 0.05 %, Hang Seng fell 0.10 %, ASX 200 declined 0.95 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1243 (+0.60 %), Silver at $16.90 (+0.90 %), WTI Oil at $48.20 (-0.90 %), Brent Oil at $51.20 (-0.85 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.30, UK 10-year yield at 1.14, 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\tSouth Korea Export Price Index (YoY) Apr: 8.7%, Prior (Revised 5.0%)\n\t<\/li>\n<li>\n\t\tSouth Korea Import Price Index (YoY) Apr: 9.3%, Prior (Revised 6.8%)\n\t<\/li>\n<li>\n\t\tNew Zealand PPI Input (QoQ) Q1: 0.8%, Prior (1.0%)\n\t<\/li>\n<li>\n\t\tNew Zealand PPI Output (QoQ) Q1: 1.4%, Prior (1.5%)\n\t<\/li>\n<li>\n\t\tJapan Machine Orders (MoM) Mar: 1.4%, Est. (2.10%), Prior (1.50%)\n\t<\/li>\n<li>\n\t\tJapan Machine Orders (YoY) Mar: -0.7%, Est. (0.60%), Prior (5.60%)\n\t<\/li>\n<li>\n\t\tPBoC Fixes USDCNY Reference Rate At 6.8635 (prev fix: 6.7890)\n\t<\/li>\n<li>\n\t\tU.S. stock futures, dollar fall on rising concerns on Trump &#8211; RTRS\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tUS equity futures declined overnight following the leak of a memo in which US President Trump asked the former FBI chief to end a probe into his former national security advisor Flynn. Worries about Trump administration could put stock markets worldwide under pressure. Investors are hoping for a large tax reform, but with Trump facing increasing criticism and internal conflicts, the odds are decreasing.\n<\/p>\n<p>\n\tUSD\/JPY fell below 113 support and traded as low as 112.40 so far. Next support is seen at 112. Should the pair break below it, a deeper correction to at least 110.50 seems likely.\n<\/p>\n<p>\n\tMeanwhile, the outlook for the Euro remains positive. EUR\/USD has cleared resistance at 1.1020 and extended gains to 1.1115. Should it break above 1.1150 resistance, a rally towards 1.13 seems likely.\n<\/p>\n<p>\n\tUSD\/CAD is also looking increasingly bearish following the break below 1.36 support. With the Dollar under pressure and oil prices rising again, USD\/CAD is likely to extend losses in the near-term. The next key support level now lies at 1.3450.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\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","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.60 %, Shanghai Composite lost 0.05 %, Hang Seng fell 0.10 %, ASX 200 declined 0.95 % Commodities: Gold at $1243 (+0.60 %), Silver at $16.90 (+0.90 %), WTI Oil at $48.20 (-0.90 %), Brent Oil at $51.20 (-0.85 %) Rates: US 10-year yield at 2.30, UK 10-year &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/wednesday-17th-may-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 17th 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-21193","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\/21193","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=21193"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21193\/revisions"}],"predecessor-version":[{"id":21194,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21193\/revisions\/21194"}],"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=21193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=21193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=21193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}