{"id":21456,"date":"2017-06-07T09:45:31","date_gmt":"2017-06-07T04:15:31","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=21456"},"modified":"2017-06-07T09:45:31","modified_gmt":"2017-06-07T04:15:31","slug":"wednesday-7th-june-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/wednesday-7th-june-european-open-briefing\/","title":{"rendered":"Wednesday 7th June : European Open Briefing"},"content":{"rendered":"<h2>\n\t<strong>Global Markets:<\/strong><br \/>\n<\/h2>\n<ul>\n<li>\n\t\tAsian stock markets: Nikkei down 0.15 %, Shanghai Composite gained 0.75 %, Hang Seng lost 0.05 %, ASX 200 up 0.05 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1294 (-0.25 %), Silver at $17.64 (-0.40 %), WTI Oil at $48.15 (-0.10 %), Brent Oil at $50.10 (-0.10 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.16, UK 10-year yield at 0.99, German 10-year yield at 0.26\n\t<\/li>\n<\/ul>\n<h2>\n\t<strong>News &amp; Data<\/strong><br \/>\n<\/h2>\n<ul>\n<li>\n\t\tAustralia GDP q\/q 0.3 % vs 0.2 % expected\n\t<\/li>\n<li>\n\t\tAustralia GDP y\/y 1.7 % vs 1.5 % expected\n\t<\/li>\n<li>\n\t\tAustralia GDP Capital Expenditure -0.6 % vs 2.5 % previous\n\t<\/li>\n<li>\n\t\tAustralia GDP Final Consumption 0.6 % vs 0.7 % previous\n\t<\/li>\n<li>\n\t\tAustralia AIG Construction Index 56.7 vs 51.9 previous\n\t<\/li>\n<li>\n\t\tAsian stocks wary ahead of risk events this week, dollar struggles &#8211; RTRS\n\t<\/li>\n<li>\n\t\tOil eases on oversupply, but Mideast tension and falling U.S. stocks support &#8211; RTRS\n\t<\/li>\n<\/ul>\n<h2>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h2>\n<p>\n\tRisk appetite remains low ahead of tomorrow&rsquo;s events which could rattle the markets. Former FBI chief Comey will testify about his conversations with US President Trump, the ECB will decide on interest rates and UK voters are heading to the polls.\n<\/p>\n<p>\n\tGold is benefiting from the uncertainty. It reached a high of $1294 overnight, and it is likely that resistance at $1300 will be tested soon. A break above that level would signal a rally towards $1350.\n<\/p>\n<p>\n\tEUR\/USD consolidated in a 1.1260-80 range in Asia. It is unlikely that the pair will break above 1.13 resistance ahead of the ECB meeting tomorrow. Until then, further consolidation seems likely. No changes in rates or QE are expected from the central bank, but EUR longs are hoping that the ECB will have a slightly hawkish tone following solid economic data in the recent months.\n<\/p>\n<p>\n\tVolatility in the GBP pairs will increase as the election day approaches. The key levels to watch are 1.2840 and 1.2780, as well as 1.2940 and 1.30 to the topside. Meanwhile, USD\/JPY remains weak. The risk-off sentiment has pushed the pair to a low of almost 109. The charts are suggesting further losses are ahead, but much will depend on the outcome of tomorrow&rsquo;s events.<a name=\"_GoBack\"><\/a>\n<\/p>\n<h2>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h2>\n<ul>\n<li>\n\t\t07:00 BST &#8211; German Factory Orders\n\t<\/li>\n<li>\n\t\t08:30 BST &#8211; UK Halifax House Price Index\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; Italian Retail Sales\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone GDP\n\t<\/li>\n<li>\n\t\t15:30 BTS &#8211; US Crude Oil Inventories\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.15 %, Shanghai Composite gained 0.75 %, Hang Seng lost 0.05 %, ASX 200 up 0.05 % Commodities: Gold at $1294 (-0.25 %), Silver at $17.64 (-0.40 %), WTI Oil at $48.15 (-0.10 %), Brent Oil at $50.10 (-0.10 %) Rates: US 10-year yield at 2.16, UK 10-year &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/wednesday-7th-june-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 7th June : 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-21456","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\/21456","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=21456"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21456\/revisions"}],"predecessor-version":[{"id":21457,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21456\/revisions\/21457"}],"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=21456"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=21456"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=21456"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}