{"id":21301,"date":"2017-05-25T10:26:53","date_gmt":"2017-05-25T04:56:53","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=21301"},"modified":"2017-05-25T10:26:53","modified_gmt":"2017-05-25T04:56:53","slug":"thursday-25th-may-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/thursday-25th-may-european-open-briefing\/","title":{"rendered":"Thursday 25th 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 0.35 %, Shanghai Composite rose 0.40 %, Hang Seng rallied 0.60 %, ASX 200 gained 0.05 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1258 (+0.45 %), Silver at $17.20 (+0.50 %), WTI Oil at $51.75 (+0.75 %), Brent Oil at $54.40 (+0.80 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.26, UK 10-year yield at 0.40, German 10-year yield at 0.40\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAsian shares hit two-year high after Fed signals gradual tightening &#8211; RTRS\n\t<\/li>\n<li>\n\t\tFed ties rate hike to economic rebound, sees balance sheet cuts in 2017 &#8211; RTRS\n\t<\/li>\n<li>\n\t\tFed&#39;s Evans sees serious policy miss on U.S. inflation &#8211; RTRS\n\t<\/li>\n<li>\n\t\tOil prices rise in anticipation of extended OPEC-led production cut &#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 under pressure after the release of the FOMC meeting minutes. While a June rate hike still seems likely, the central bank was a bit cautious, and the outlook beyond is slightly more uncertain.\n<\/p>\n<p>\n\tEUR\/USD rose back above 1.12 and reached a high of 1.1245 in Asia. The pair is likely to retest resistance at 1.12700 soon. Stronger selling interest is noted ahead of 1.13.\n<\/p>\n<p>\n\tUSD\/JPY rose along with equities, but reversed gains post-FOMC. The pair ran into solid demand below 111.50, and overall, the short-term outlook remains positive if the risk-on sentiment persists.\n<\/p>\n<p>\n\tCommodity currencies strengthened in Asia. AUD\/USD is back above 0.75, although it ran out of momentum again. Meanwhile, NZD\/USD cleared a key resistance level at 0.7040, and USD\/CAD fell below 1.34, supported by a rising oil price.\n<\/p>\n<p>\n\tThe main event today will be the OPEC meeting. It is expected that the organization will agree to extend their output cut by 9 months. Anything less would be a disappointment for the market and bring Oil prices under pressure.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t09:00 BST &#8211; RBA Assistant Governor Debelle speaks\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK GDP\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Initial Jobless Claims\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; FOMC Member Brainard speaks\n\t<\/li>\n<li>\n\t\t18:00 BST &#8211; ECB Member Constancio speaks\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.35 %, Shanghai Composite rose 0.40 %, Hang Seng rallied 0.60 %, ASX 200 gained 0.05 % Commodities: Gold at $1258 (+0.45 %), Silver at $17.20 (+0.50 %), WTI Oil at $51.75 (+0.75 %), Brent Oil at $54.40 (+0.80 %) Rates: US 10-year yield at 2.26, UK 10-year &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/thursday-25th-may-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Thursday 25th 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-21301","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\/21301","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=21301"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21301\/revisions"}],"predecessor-version":[{"id":21302,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21301\/revisions\/21302"}],"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=21301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=21301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=21301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}