{"id":21353,"date":"2017-05-29T09:53:47","date_gmt":"2017-05-29T04:23:47","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=21353"},"modified":"2017-05-29T09:55:36","modified_gmt":"2017-05-29T04:25:36","slug":"monday-29th-may-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/monday-29th-may-european-open-briefing\/","title":{"rendered":"Monday 29th 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 %, Hang Seng rose 0.10 %, ASX 200 declined 0.45 %, Shanghai Composite closed for holiday\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1266 (-0.15 %), Silver at $17.34 (+0.15 %), WTI Oil at $49.65 (-0.30 %), Brent Oil at $52.40 (-0.25 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.25, UK 10-year yield at 1.01, German 10-year yield at 0.33\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAsia stocks edge up on firmer Wall Street, pound nurses losses &#8211; RTRS\n\t<\/li>\n<li>\n\t\tOil falls as U.S. drilling undermines drive to tighten markets &#8211; RTRS\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>CFTC Positioning Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n<h4>\n\t\t\tEUR long 65K vs 38K long last week. Longs increased 27K<br \/>\n\t\t<\/h4>\n<\/li>\n<li>\n\t\tGBP short 24K vs 33K short last week. Shorts trimmed 9K\n\t<\/li>\n<li>\n\t\tJPY short 52K vs 60K short last week. Shorts trimmed 8K\n\t<\/li>\n<li>\n\t\tCHF short 20K vs 21K short last week. Shorts trimmed 1K\n\t<\/li>\n<li>\n\t\tCAD short 99K vs 98K short.&nbsp; Shorts increased 1K\n\t<\/li>\n<li>\n\t\tAUD long 3K vs 6K long.&nbsp; Longs trimmed 3K\n\t<\/li>\n<li>\n\t\tNZD short 9K vs 12K short last week.&nbsp; Shorts trimmed 3K\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tMarkets remained quiet overnight amid a lack of economic data releases and Chinese markets closed due to a public holiday.\n<\/p>\n<p>\n\tEUR\/USD started the trading week around 1.1175 and declined to 1.1160. Support at 1.1160 is looking increasingly vulnerable, and a break below would signal a move towards 1.11. GBP\/USD opened around 1.2795 and recovered to 1.2825 in Asia. However, the currency is likely to remain under pressure ahead of the UK elections.\n<\/p>\n<p>\n\tUSD\/JPY began the trading day at 111.20 and rose to 111.45 before it lost momentum. Key support is seen at 110.80 and 110.50, while resistance lies ahead of 112.\n<\/p>\n<p>\n\tMarkets are likely to remain quiet today, with a speech by ECB President Draghi the only notable event and UK &amp; US markets closed for a holiday.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t14:00 BST &#8211; ECB President Draghi speaks\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>The Week Ahead:<\/strong><br \/>\n<\/h4>\n<p>\n\t<u>Tuesday, May 30th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:30 BST &#8211; Japanese Household Spending\n\t<\/li>\n<li>\n\t\t00:30 BST &#8211; Japanese Unemployment Rate\n\t<\/li>\n<li>\n\t\t02:30 BST &#8211; Australian Building Approvals\n\t<\/li>\n<li>\n\t\t07:00 BST &#8211; German Import Price Index\n\t<\/li>\n<li>\n\t\t07:45 BST &#8211; French GDP\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone Consumer Confidence\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone Business Climate\n\t<\/li>\n<li>\n\t\t13:00 BST &#8211; German CPI\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Personal Spending\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Personal Income\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; Canadian Current Account\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US CB Consumer Confidence\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Wednesday, May 31st<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:00 BST &#8211; RBNZ Governor Wheeler speaks\n\t<\/li>\n<li>\n\t\t02:00 BST &#8211; Chinese Manufacturing PMI\n\t<\/li>\n<li>\n\t\t02:00 BST &#8211; Chinese Non-Manufacturing PMI\n\t<\/li>\n<li>\n\t\t02:30 BST &#8211; Australian Private Sector Credit\n\t<\/li>\n<li>\n\t\t07:00 BST &#8211; German Retail Sales\n\t<\/li>\n<li>\n\t\t07:45 BST &#8211; French CPI\n\t<\/li>\n<li>\n\t\t08:55 BST &#8211; German Unemployment Rate\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone CPI\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone Unemployment Rate\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; Canadian GDP\n\t<\/li>\n<li>\n\t\t14:45 BST &#8211; US Chicago PMI\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US Pending Home Sales\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Thursday, June 1st<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:30 BST &#8211; Australian AIG Manufacturing Index\n\t<\/li>\n<li>\n\t\t01:10 BST &#8211; FOMC Member Williams speaks\n\t<\/li>\n<li>\n\t\t02:30 BST &#8211; Australian Retail Sales\n\t<\/li>\n<li>\n\t\t02:45 BST &#8211; Chinese Caixin Manufacturing PMI\n\t<\/li>\n<li>\n\t\t06:45 BST &#8211; Swiss GDP\n\t<\/li>\n<li>\n\t\t08:15 BST &#8211; Swiss Retail Sales\n\t<\/li>\n<li>\n\t\t08:45 BST &#8211; Italian Manufacturing PMI\n\t<\/li>\n<li>\n\t\t08:50 BST &#8211; French Manufacturing PMI\n\t<\/li>\n<li>\n\t\t08:55 BST &#8211; German Manufacturing PMI\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; Euro Zone Manufacturing PMI\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Manufacturing PMI\n\t<\/li>\n<li>\n\t\t13:15 BST &#8211; US ADP Non-Farm Employment Change\n\t<\/li>\n<li>\n\t\t14:45 BST &#8211; US Markit Manufacturing PMI\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US Construction Spending\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US ISM Manufacturing PMI\n\t<\/li>\n<li>\n\t\t16:00 BST &#8211; US Crude Oil Inventories\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Friday, June 2nd<\/u>\n<\/p>\n<ul>\n<li>\n\t\t09:30 BST &#8211; UK Construction PMI\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US NFP\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Unemployment Rate\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; US Trade Balance\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; Canadian Trade Balance\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.15 %, Hang Seng rose 0.10 %, ASX 200 declined 0.45 %, Shanghai Composite closed for holiday Commodities: Gold at $1266 (-0.15 %), Silver at $17.34 (+0.15 %), WTI Oil at $49.65 (-0.30 %), Brent Oil at $52.40 (-0.25 %) Rates: US 10-year yield at 2.25, UK 10-year &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/monday-29th-may-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 29th 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-21353","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\/21353","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=21353"}],"version-history":[{"count":2,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21353\/revisions"}],"predecessor-version":[{"id":21355,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21353\/revisions\/21355"}],"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=21353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=21353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=21353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}