{"id":21388,"date":"2017-05-30T10:38:33","date_gmt":"2017-05-30T05:08:33","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=21388"},"modified":"2017-05-30T10:38:33","modified_gmt":"2017-05-30T05:08:33","slug":"tuesday-30th-may-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/tuesday-30th-may-european-open-briefing\/","title":{"rendered":"Tuesday 30th 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 0.45 %, ASX 200 gained 0.05 %, Shanghai Composite and Hang Seng closed for holiday\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1270 (+0.15 %), Silver at $17.45 (+0.70 %), WTI Oil at $49.75 (-0.15 %), Brent Oil at $52.40 (-0.50 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.24, UK 10-year yield at 1.02, German 10-year yield at 0.30\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tJapan Retail Sales y\/y 3.2 % vs 2.3 % expected\n\t<\/li>\n<li>\n\t\tJapan Unemployment Rate 2.8 % vs 2.8 % expected\n\t<\/li>\n<li>\n\t\tJapan Household Spending m\/m 0.5 % vs 1.1 % expected\n\t<\/li>\n<li>\n\t\tJapan Household Spending y\/y -1.4 % vs -0.7 % expected\n\t<\/li>\n<li>\n\t\tAustralia Building Approvals 4.4 % vs 3.0 % expected\n\t<\/li>\n<li>\n\t\tNew Zealand Building Consents m\/m -7.6 % vs -1.2 % previous\n\t<\/li>\n<li>\n\t\tGreece, Italy tensions hit euro, Asian stocks, lift yen, gold &#8211; RTRS\n\t<\/li>\n<li>\n\t\tOil inches up in quiet holiday trade, focus on crude glut &#8211; RTRS\n\t<\/li>\n<li>\n\t\tDollar firms against sterling, euro amid political uncertainties &#8211; RTRS\n\t<\/li>\n<li>\n\t\tDraghi says ECB stimulus still needed despite better growth &#8211; RTRS\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe Euro came under pressure following comments from ECB President Draghi and news that there might be an early election in Italy in September. Draghi stated that there is still need for a substantial stimulus as inflation remains subdued. Meanwhile, former Prime Minister Renzi, who is looking for a political comeback, said that he supports an election as early as September. Domestic stock markets reacted negatively, and Italian government bonds also declined.\n<\/p>\n<p>\n\tEUR\/USD fell from 1.12 to a low of 1.1120 in Asia. Immediate support is seen at 1.111, but the next important level is 1.1050.\n<\/p>\n<p>\n\tGBP\/USD is also suffering from political developments. British Prime Minister Theresa May&#39;s lead over the opposition Labour Party dropped to 6 percentage points as the latest poll showed. Following the break below 1.2820 support, a test of 1.27 seems likely in the near-term.\n<\/p>\n<p>\n\tThe commodity currencies were quiet overnight. AUD\/USD consolidated in a 0.7420-40 range, while NZD\/USD traded between 0.7035 and 0.7055.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\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","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.45 %, ASX 200 gained 0.05 %, Shanghai Composite and Hang Seng closed for holiday Commodities: Gold at $1270 (+0.15 %), Silver at $17.45 (+0.70 %), WTI Oil at $49.75 (-0.15 %), Brent Oil at $52.40 (-0.50 %) Rates: US 10-year yield at 2.24, UK 10-year yield at &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/tuesday-30th-may-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 30th 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-21388","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\/21388","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=21388"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21388\/revisions"}],"predecessor-version":[{"id":21389,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21388\/revisions\/21389"}],"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=21388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=21388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=21388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}