{"id":21487,"date":"2017-06-09T10:10:01","date_gmt":"2017-06-09T04:40:01","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=21487"},"modified":"2017-06-09T10:10:01","modified_gmt":"2017-06-09T04:40:01","slug":"friday-9th-june-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/friday-9th-june-european-open-briefing\/","title":{"rendered":"Friday 9th June : European Open Briefing"},"content":{"rendered":"<h2>\n\tGlobal Markets:<br \/>\n<\/h2>\n<ul>\n<li>\n\t\tAsian stock markets: Nikkei up 0.55 %, Shanghai Composite gained 0.05 %, Hang Seng lost 0.15 %, ASX 200 rose 0.20 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1277 (-0.15 %), Silver at $17.31 (-0.60 %), WTI Oil at $45.60 (-0.10 %), Brent Oil at $47.80 (-0.15 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.19, UK 10-year yield at 1.04, German 10-year yield at 0.25\n\t<\/li>\n<\/ul>\n<h2>\n\tNews &amp; Data<br \/>\n<\/h2>\n<ul>\n<li>\n\t\tAustralia Home Loans m\/m -1.9 % vs -1.0 % expected\n\t<\/li>\n<li>\n\t\tChina CPI m\/m -0.1 % vs -0.2 % expected\n\t<\/li>\n<li>\n\t\tChina CPI y\/y 1.5 % vs 1.5 % expected\n\t<\/li>\n<li>\n\t\tChina PPI y\/y 5.5 % vs 5.7 % expected\n\t<\/li>\n<li>\n\t\tSterling shaken by UK election shock, fallout limited elsewhere &#8211; RTRS\n\t<\/li>\n<li>\n\t\tFTSE futures, gilt yields fall as odds improve on Corbyn-led government &#8211; RTRS\n\t<\/li>\n<li>\n\t\tChina&#39;s easing factory gate prices hint at broader economic slowdown &#8211; RTRS\n\t<\/li>\n<\/ul>\n<h2>\n\tMarkets Update:<br \/>\n<\/h2>\n<p>\n\tThe British Pound collapsed overnight, as projections showed that the ruling party of Theresa May will fall short of an overall majority. A &ldquo;hung parliament&rdquo; &ndash; where no party has a majority &ndash; would be the worst scenario for markets as it would make the Brexit negotiations with the EU much more difficult.\n<\/p>\n<p>\n\tGBP\/USD fell from 1.2950 to a low of 1.2693 in Asia. The pair has recovered slightly since then, but volatility will remain high until the <a name=\"_GoBack\"><\/a>result has arrived. From a technical perspective, 1.27 and 1.30 are the key levels to watch. Should GBP\/USD have a clear break below 1.27, a decline towards 1.25 seems likely.\n<\/p>\n<p>\n\tThe Euro came under pressure as well, although the ECB did not have much of an impact. The central bank left rates &amp; QE unchanged, hiked their economic forecasts and decreased their inflation forecast, just as expected. In the near-term, further consolidation seems likely.\n<\/p>\n<p>\n\tWhile every FX trader is watching the Pound, volatility in the other currency pairs is relatively low. AUD\/USD lost some momentum, but is still holding above 0.75 support. USD\/JPY recovered amid a rally in equity markets. A break above 110.50 could signal a rally towards 112.\n<\/p>\n<h2>\n\tUpcoming Events:<br \/>\n<\/h2>\n<ul>\n<li>\n\t\t07:00 BST &#8211; German Trade Balance\n\t<\/li>\n<li>\n\t\t07:45 BST &#8211; French Industrial Production\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Manufacturing Production\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK Industrial Production\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; Canadian Employment Change\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; Canadian Unemployment Rate\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.55 %, Shanghai Composite gained 0.05 %, Hang Seng lost 0.15 %, ASX 200 rose 0.20 % Commodities: Gold at $1277 (-0.15 %), Silver at $17.31 (-0.60 %), WTI Oil at $45.60 (-0.10 %), Brent Oil at $47.80 (-0.15 %) Rates: US 10-year yield at 2.19, UK 10-year &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/friday-9th-june-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Friday 9th 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-21487","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\/21487","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=21487"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21487\/revisions"}],"predecessor-version":[{"id":21488,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21487\/revisions\/21488"}],"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=21487"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=21487"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=21487"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}