{"id":22175,"date":"2017-08-01T08:57:36","date_gmt":"2017-08-01T03:27:36","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=22175"},"modified":"2017-08-01T08:57:36","modified_gmt":"2017-08-01T03:27:36","slug":"tuesday-1st-august-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/tuesday-1st-august-european-open-briefing\/","title":{"rendered":"Tuesday 1st August: 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 up 0.20%, Shanghai Composite gained 0.65%, Hang Seng rose 0.55%, ASX 200 rallied 0.75%\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1269 (+0.20%), Silver at $16.83 (+0.30%), WTI Oil at $50.30 (+0.20%), Brent Oil at $52.80 (+0.15%)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.30, UK 10 year at 1.23, German 10 year yield at 0.55\n\t<\/li>\n<\/ul>\n<h2>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h2>\n<ul>\n<li>\n\t\tChina Caixin Manufacturing PMI Ju: 51.1 (Est 50.4, Prev 50.4)\n\t<\/li>\n<li>\n\t\tJapan Nikkei Manufacturing PMI Jul F: 52.1 (Prev 52.2)\n\t<\/li>\n<li>\n\t\tSouth Korea Nikkei Manufacturing PMI Jul: 49.1(Prev 50.1)\n\t<\/li>\n<li>\n\t\tAustralia AIG Perf of MFG Index Jul: 56 (Prev 55)\n\t<\/li>\n<li>\n\t\tPBoC Fixes USDCNY Reference Rate At 6.7148 (Prev 6.7283)\n\t<\/li>\n<\/ul>\n<p>\n\t&nbsp;\n<\/p>\n<h2>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h2>\n<p>\n\tThe US Dollar came under renewed pressure overnight as concerns about the political situation in Washington weighed on the currency. EURUSD broke above 1.18 and there is little resistance now until 1.20.&nbsp;\n<\/p>\n<p>\n\tGBPUSD cleared resistance at 1.32, which suggests the rally could extend to 1.35 in the near-term. While the outlook for GBP is mixed, the broad USD weakness could keep the pair supported for a while.&nbsp;\n<\/p>\n<p>\n\tUSDJPY has bounced off 110 on the first test, but the support level looks very fragile. A break below is likely to trigger more momentum selling and eventually push the pair in the direction of 108 &#8211; the next major support level.&nbsp;\n<\/p>\n<p>\n\tAUDUSD is well bid ahead of the RBA rate decision. The market is not expecting any changes, so the highlight will be the RBA statement. The tone in the recent minutes were slightly more hawkish, so the market has hopes that this will be confirmed in today&#39;s release.&nbsp;\n<\/p>\n<p>\n\t&nbsp;\n<\/p>\n<h2>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h2>\n<ul>\n<li>\n\t\t<span data-term=\"goog_1749840102\" tabindex=\"0\">08:45 BST<\/span>&nbsp;&#8211; Italian Manufacturing PMI\n\t<\/li>\n<li>\n\t\t<span data-term=\"goog_1749840103\" tabindex=\"0\">08:50 BST<\/span>&nbsp;&#8211; French Manufacturing PMI\n\t<\/li>\n<li>\n\t\t<span data-term=\"goog_1749840104\" tabindex=\"0\">08:55 BST<\/span>&nbsp;&#8211; German Manufacturing PMI\n\t<\/li>\n<li>\n\t\t<span data-term=\"goog_1749840105\" tabindex=\"0\">08:55 BST<\/span>&nbsp;&#8211; German Unemployment Rate\n\t<\/li>\n<li>\n\t\t<span data-term=\"goog_1749840106\" tabindex=\"0\">09:00 BST<\/span>&nbsp;&#8211; Euro Zone Manufacturing PMI\n\t<\/li>\n<li>\n\t\t<span data-term=\"goog_1749840107\" tabindex=\"0\">09:30 BST<\/span>&nbsp;&#8211; UK Manufacturing PMI\n\t<\/li>\n<li>\n\t\t<span data-term=\"goog_1749840108\" tabindex=\"0\">10:00 BST<\/span>&nbsp;&#8211; Euro Zone GDP\n\t<\/li>\n<li>\n\t\t<span data-term=\"goog_1749840109\" tabindex=\"0\">13:30 BST<\/span>&nbsp;&#8211; US Personal Spending\n\t<\/li>\n<li>\n\t\t<span data-term=\"goog_1749840110\" tabindex=\"0\">15:00 BST<\/span>&nbsp;&#8211; US Manufacturing PMI\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.20%, Shanghai Composite gained 0.65%, Hang Seng rose 0.55%, ASX 200 rallied 0.75% Commodities: Gold at $1269 (+0.20%), Silver at $16.83 (+0.30%), WTI Oil at $50.30 (+0.20%), Brent Oil at $52.80 (+0.15%) Rates: US 10 year yield at 2.30, UK 10 year at 1.23, German 10 year yield &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/tuesday-1st-august-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 1st August: 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-22175","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\/22175","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=22175"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/22175\/revisions"}],"predecessor-version":[{"id":22176,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/22175\/revisions\/22176"}],"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=22175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=22175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=22175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}