{"id":21332,"date":"2017-05-26T10:06:25","date_gmt":"2017-05-26T04:36:25","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=21332"},"modified":"2017-05-26T10:06:25","modified_gmt":"2017-05-26T04:36:25","slug":"friday-26th-may-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/friday-26th-may-european-open-briefing\/","title":{"rendered":"Friday 26th 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 0.40 %, Shanghai Composite gained 0.10 %, Hang Seng rose 0.05 %, ASX 200 fell 0.65 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1257 (+0.10 %), Silver at $17.18 (-0.10 %), WTI Oil at $48.55 (-0.75 %), Brent Oil at $51.20 (-0.55 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.25, UK 10-year yield at 1.04, German 10-year yield at 0.36\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tJapan National CPI (YoY) Apr: 0.4% (exp 0.4%; prev 0.2%)\n\t<\/li>\n<li>\n\t\tTokyo CPI (YoY) May: 0.2% (prev -0.1%)\n\t<\/li>\n<li>\n\t\tJapan PPI Services (YoY) Apr: 0.7% (prev 0.8%)\n\t<\/li>\n<li>\n\t\tPBoC Fixes USDCNY Reference Rate At 6.8698 (prev fix 6.8695 prev close 6.8705)\n\t<\/li>\n<li>\n\t\tOPEC disappointment hits oil, stocks; sterling down on UK vote jitters &#8211; RTRS\n\t<\/li>\n<li>\n\t\tU.S. inflation path since 2012 is worrisome, policymaker says &#8211; RTRS\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tOil prices declined sharply after the OPEC agreement to extend the existing output cut deal disappointed speculators who were betting on larger cuts. WTI fell from $52 to a low of almost $48.\n<\/p>\n<p>\n\tThis put some pressure on the Canadian Dollar, which is sensitive to Oil price movements. USD\/CAD rallied from 1.3380 to 1.35. A clear break above 1.35 would signal that the currency pair could recover further in the near-term. The next notable resistance level then lies at 1.3650\/60.\n<\/p>\n<p>\n\tThe Dollar caught a bid overnight. The Euro fell back below 1.12, while GBP\/USD declined to 1.2866. The Pound came under pressure after polls showed that UK Prime Minister May&#39;s lead is narrowing two weeks ahead of the election.\n<\/p>\n<p>\n\tThe Dollar was also boosted by hawkish comments by Federal Reserve member John Williams. He said that he sees three rate hikes as appropriate this year, and that the US economy is still running somewhat hot.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t08:00 BST &#8211; ECB Member Coeure speaks\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US GDP\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 0.40 %, Shanghai Composite gained 0.10 %, Hang Seng rose 0.05 %, ASX 200 fell 0.65 % Commodities: Gold at $1257 (+0.10 %), Silver at $17.18 (-0.10 %), WTI Oil at $48.55 (-0.75 %), Brent Oil at $51.20 (-0.55 %) Rates: US 10-year yield at 2.25, UK 10-year &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/friday-26th-may-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Friday 26th 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-21332","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\/21332","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=21332"}],"version-history":[{"count":2,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21332\/revisions"}],"predecessor-version":[{"id":21334,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21332\/revisions\/21334"}],"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=21332"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=21332"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=21332"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}