{"id":22160,"date":"2017-07-31T10:02:11","date_gmt":"2017-07-31T04:32:11","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=22160"},"modified":"2017-07-31T10:11:17","modified_gmt":"2017-07-31T04:41:17","slug":"monday-31st-july-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/monday-31st-july-european-open-briefing\/","title":{"rendered":"Monday 31st July: 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 0.10 %, Shanghai Composite gained 0.45 %, Hang Seng rallied 0.60 %, ASX 200 rose 0.40 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1267 (-0.05 %), Silver at $16.70 (+0.05 %), WTI Oil at $49.90 (+0.40 %), Brent Oil at $52.40 (+0.35 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.28, UK 10 year yield at 1.21, German 10 year yield at 0.54\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tChina Manufacturing PMI 51.4 vs 51.6 expected\n\t<\/li>\n<li>\n\t\tChina Non-Manufacturing PMI 54.5 vs 54.9 previous\n\t<\/li>\n<li>\n\t\tNew Zealand ANZ Business Confidence 19.4 vs 24.8 previous\n\t<\/li>\n<li>\n\t\tAustralia Private Sector Credit 0.6 % vs 0.4 % expected\n\t<\/li>\n<li>\n\t\tAustralia HIA New Home Sales -6.9 % vs 1.1 % previous\n\t<\/li>\n<li>\n\t\tJapan Industrial Production 1.6 % vs 1.7 % expected\n\t<\/li>\n<li>\n\t\tPBoC Fixes USDCNY Reference Rate At 6.7283 (Prev 6.7373)\n\t<\/li>\n<li>\n\t\tAsia stocks reverse losses on China&#39;s solid purchasing managers&#39; indexes &#8211; RTRS\n\t<\/li>\n<li>\n\t\tDollar struggles on policy uncertainty, political woes &#8211; RTRS\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>CFTC Positioning Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tEUR long 91K vs 91K long last week. No change in position.\n\t<\/li>\n<li>\n\t\tGBP short 26K vs 16K short last week. Shorts increased by 10K.\n\t<\/li>\n<li>\n\t\tJPY short 121K vs 127K short last week. Shorts trimmed by 6K\n\t<\/li>\n<li>\n\t\tCHF short 2K vs 4K short last week. Shorts trimmed by 2K\n\t<\/li>\n<li>\n\t\tCAD long 27K vs 8K short. CAD longs increased by 19K.\n\t<\/li>\n<li>\n\t\tAUD long 56k vs 51k last week.&nbsp; Longs increased by 5K.\n\t<\/li>\n<li>\n\t\tNZD long 35K vs 36K long last week. Longs trimmed by 1K\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe US Dollar remains under pressure. While the charts suggest that the currency is oversold in the short-term, it is getting no rest. EUR\/USD and GBP\/USD are back above 1.17 and 1.31 respectively, and USD\/JPY is approaching a key support level at 110. In the Euro, there is little resistance until 1.20, while in Cable, a break above 1.32 would signal a rally to at least 1.35. The Yen is likely to struggle as the BoJ plans to maintain its QE programme for a long time, but a break of 110 in USD\/JPY could trigger fresh momentum selling.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n<p>\n\t\t\t07:00 BST &#8211; German Retail Sales\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t10:00 BST &#8211; Euro Zone CPI\n\t\t<\/p>\n<\/li>\n<li>\n<p>\n\t\t\t15:00 BST &#8211; US Pending Home Sales\n\t\t<\/p>\n<\/li>\n<\/ul>\n<h4>\n\t<strong>The Week Ahead:<\/strong><br \/>\n<\/h4>\n<p>\n\t<u>Tuesday, August 1st<\/u>\n<\/p>\n<ul>\n<li>\n\t\t00:30 BST &#8211; Australia AIG Manufacturing Index\n\t<\/li>\n<li>\n\t\t02:45 BST &#8211; China Caixin Manufacturing Index\n\t<\/li>\n<li>\n\t\t05:30 BST &#8211; RBA Rate Decision\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<\/ul>\n<p>\n\t10:00 BST &#8211; Euro Zone GDP\n<\/p>\n<p>\n\t15:00 BST &#8211; US ISM Manufacturing PMI\n<\/p>\n<p>\n\t<u>Wednesday, August 2nd<\/u>\n<\/p>\n<ul>\n<li>\n\t\t09:30 BST &#8211; UK Construction PMI\n\t<\/li>\n<li>\n\t\t13:15 BST &#8211; US ADP Nonfarm Employment Change\n\t<\/li>\n<li>\n\t\t15:30 BST &#8211; US Crude Oil Inventories\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Thursday, August 3rd<\/u>\n<\/p>\n<ul>\n<li>\n\t\t08:45 BST &#8211; Italian Services PMI\n\t<\/li>\n<li>\n\t\t08:50 BST &#8211; French\n\t<\/li>\n<li>\n\t\t08:55 BST &#8211; German\n\t<\/li>\n<li>\n\t\t09:00 BST &#8211; Euro Zone\n\t<\/li>\n<li>\n\t\t09:30 BST &#8211; UK\n\t<\/li>\n<li>\n\t\t10:00 BST &#8211; Euro Zone Retail Sales\n\t<\/li>\n<li>\n\t\t12:00 BST &#8211; Bank of England Rate Decision\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; US ISM\n\t<\/li>\n<\/ul>\n<p>\n\t<u>Friday, August 4th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t02:30 BST &#8211; Australian Retail Sales\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; Canadian Unemployment Rate\n\t<\/li>\n<li>\n\t\t13:30 BST &#8211; Canadian Employment Change\n\t<\/li>\n<li>\n\t\t15:00 BST &#8211; Canadian Ivey PMI\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.10 %, Shanghai Composite gained 0.45 %, Hang Seng rallied 0.60 %, ASX 200 rose 0.40 % Commodities: Gold at $1267 (-0.05 %), Silver at $16.70 (+0.05 %), WTI Oil at $49.90 (+0.40 %), Brent Oil at $52.40 (+0.35 %) Rates: US 10 year yield at 2.28, UK &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/monday-31st-july-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 31st July: 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-22160","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\/22160","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=22160"}],"version-history":[{"count":2,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/22160\/revisions"}],"predecessor-version":[{"id":22162,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/22160\/revisions\/22162"}],"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=22160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=22160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=22160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}