{"id":21650,"date":"2017-06-21T10:03:52","date_gmt":"2017-06-21T04:33:52","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=21650"},"modified":"2017-06-21T10:03:52","modified_gmt":"2017-06-21T04:33:52","slug":"wednesday-21st-june-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/wednesday-21st-june-european-open-briefing\/","title":{"rendered":"Wednesday 21st June: 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 %, Shanghai Composite gained 0.15 %, Hang Seng declined 0.60 %, ASX 200 lost 1.35 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1248 (+0.35 %), Silver at $16.50 (+0.50 %), WTI Oil at $43.45 (-0.15 %), Brent Oil at $45.90 (-0.25 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.16, UK 10-year yield at 1.00, German 10-year yield at 0.26\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAustralia MI Leading Index 0.0 % vs -0.1 % previous\n\t<\/li>\n<li>\n\t\tPBoC Fixes USDCNY Reference Rate At 6.8193 (prev fix 6.8096 prev close 6.8295)\n\t<\/li>\n<li>\n\t\tOil slump spooks investors; China stocks underwhelmed by MSCI &#8211; RTRS\n\t<\/li>\n<li>\n\t\tOil holds near multi-month lows as glut fears persist &#8211; RTRS\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe US Dollar extended gains overnight. The decline in stock markets and oil prices triggered a risk-off sentiment in markets, which provided additional support for the USD. Risk currencies such as the Australian and New Zealand came under pressure overnight. AUD\/USD fell from 0.7590 to 0.7560. Key support is seen at 0.7520. Should the pair break below it, a correction towards 0.74 seems likely.\n<\/p>\n<p>\n\tThe focus today will be on the RBNZ rate decision. No changes are expected, but traders are looking forward to the central bank&#39;s statement and whether it will maintain its slightly hawkish tone. The strong NZD could be a concern for the RBNZ though. NZD\/USD rallied from 0.6820 to 0.73 in the past two months. Meanwhile, AUD\/NZD fell from 1.09 to 1.04. This puts New Zealand&#39;s export industry under pressure.\n<\/p>\n<p>\n\tThe Pound fell sharply after dovish comments from Bank of England Governor Carney. He said that &ldquo;now is not the right time&rdquo; for a rate hike. GBP suffers now from lower rate expectations, as well as the political uncertainty in the UK. The short-term outlook remains negative and move towards 1.25 likely.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t15:00 BST &#8211; US Existing Home Sales\n\t<\/li>\n<li>\n\t\t15:30 BST &#8211; US Crude Oil Inventories\n\t<\/li>\n<li>\n\t\t22:00 BST &#8211; RBNZ Rate Decision\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.45 %, Shanghai Composite gained 0.15 %, Hang Seng declined 0.60 %, ASX 200 lost 1.35 % Commodities: Gold at $1248 (+0.35 %), Silver at $16.50 (+0.50 %), WTI Oil at $43.45 (-0.15 %), Brent Oil at $45.90 (-0.25 %) Rates: US 10-year yield at 2.16, UK 10-year &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/wednesday-21st-june-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 21st 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-21650","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\/21650","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=21650"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21650\/revisions"}],"predecessor-version":[{"id":21651,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/21650\/revisions\/21651"}],"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=21650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=21650"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=21650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}