{"id":22239,"date":"2017-08-04T10:19:31","date_gmt":"2017-08-04T04:49:31","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=22239"},"modified":"2017-08-04T10:19:31","modified_gmt":"2017-08-04T04:49:31","slug":"friday-4th-august-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/friday-4th-august-european-open-briefing\/","title":{"rendered":"Friday 4th August: 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 0.35 %, Shanghai Composite gained 0.25 %, Hang Seng rose 0.15 %, ASX 200 lost 0.20 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1267 (-0.35 %), Silver at $16.65 (+0.15 %), WTI Oil at $48.94 (-0.20 %), Brent Oil at $51.90 (-0.20 %)\n\t<\/li>\n<li>\n\t\tRates: US 10-year yield at 2.23, UK 10-year yield at 1.15, German 10-year yield\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAustralia Retail Sales m\/m 0.3 % vs 0.2 % expected\n\t<\/li>\n<li>\n\t\tAustralia Retail Sales y\/y 1.5 % vs 1.2 % expected\n\t<\/li>\n<li>\n\t\tJapan Average Cash Earnings -0.4 % vs 0.6 % expected\n\t<\/li>\n<li>\n\t\tStrong U.S. jobs report seen in July; wages likely rose &#8211; RTRS\n\t<\/li>\n<li>\n\t\tOil prices dip on high OPEC supplies, rising U.S. production &#8211; RTRS\n\t<\/li>\n<li>\n\t\tAustralia&#39;s central bank upbeat on economy as consumers splurge &#8211; RTRS\n\t<\/li>\n<li>\n\t\tAsia stocks edge higher, dollar languishes on U.S. politics, mixed data &ndash; RTRS\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tThe US Dollar remains weak ahead of today&#39;s NFP release. EUR\/USD is consolidating around the 1.19 level, while USD\/JPY is struggling to keep itself above 110. It is likely that volatility will remain relatively low ahead of the important data release at 13:30 London time.\n<\/p>\n<p>\n\tThe market is expecting a 183k NFP figure and a 0.1 % decline of the unemployment rate to 4.3 %. Should the data exceed expectations, the Dollar should be able to recover a bit. EUR\/USD is likely to fall below 1.18 and GBP\/USD back to 1.30 in such a scenario. Disappointing data would put the weak Dollar under additional pressure. EUR\/USD would likely break above 1.20 in that case, while USD\/JPY would decline below 110.\n<\/p>\n<p>\n\tAUD\/USD consolidated in a 0.7935-75 range overnight. While the Aussie Dollar has lost some momentum, it still remains well bid and should test 0.80 resistance soon. NZD\/USD was able to bounce off 0.7390 support and recovered to 0.7450 in Asia.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\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 0.35 %, Shanghai Composite gained 0.25 %, Hang Seng rose 0.15 %, ASX 200 lost 0.20 % Commodities: Gold at $1267 (-0.35 %), Silver at $16.65 (+0.15 %), WTI Oil at $48.94 (-0.20 %), Brent Oil at $51.90 (-0.20 %) Rates: US 10-year yield at 2.23, UK 10-year &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/friday-4th-august-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Friday 4th 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-22239","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\/22239","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=22239"}],"version-history":[{"count":2,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/22239\/revisions"}],"predecessor-version":[{"id":22242,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/22239\/revisions\/22242"}],"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=22239"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=22239"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=22239"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}