{"id":23100,"date":"2017-10-02T10:38:46","date_gmt":"2017-10-02T05:08:46","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=23100"},"modified":"2017-10-02T10:41:09","modified_gmt":"2017-10-02T05:11:09","slug":"monday-2nd-october-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/monday-2nd-october-european-open-briefing\/","title":{"rendered":"Monday 2nd October: European Open Briefing"},"content":{"rendered":"<h3>\n\t<strong>Global Markets:<\/strong><br \/>\n<\/h3>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">Asian stock markets: Nikkei up 0.15 %, Shanghai Composite rose 0.28 %, Hang Seng gained 0.48 %, ASX 200 rose 0.1 %<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities: Gold at $1277.85 (-0.54 %), Silver at $16.62 (-0.33 %), WTI Oil at $51.52 (-0.27 %), Brent Oil at $56.56 (-0.41 %)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates: US 10-year yield at 2.35, UK 10-year yield at 1.36, German 10-year yield at 0.46<\/span>\n\t<\/li>\n<\/ul>\n<h3>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h3>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">(JPY) Tankan Manufacturing Index <strong>22 vs 18<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(JPY) Tankan Non-Manufacturing Index <strong>23 vs 24<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CNY) Manufacturing PMI <strong>52.4 vs 51.5<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CNY) Non- Manufacturing PMI <strong>55.5 vs 53.4<\/strong> previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CNY) Caixin Manufacturing PMI <strong>51.0 vs 51.5<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) German Retail Sales m\/m <strong>-0.4 % vs 0.5%<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Current Account <strong>-23.2 B vs -15.8 B <\/strong>expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Final GDP q\/q <strong>0.3 % vs 0.3 %<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) CPI Flash Estimate y\/y <strong>1.5 % vs 1.6 %<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) Core CPI Flash Estimate y\/y <strong>1.1 % vs 1.2 % <\/strong>expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) GDP m\/m <strong>0.0 % vs 0.1 %<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Chicago PMI <strong>65.2 vs 58.6<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Revised UoM Consumer Sentiment <strong>95.1 vs 95.3<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Oil prices lower after strong third quarter as Sept. OPEC output rises- RTRS<\/span>\n\t<\/li>\n<\/ul>\n<h3>\n\t<strong>CFTC Positioning Data:<\/strong><br \/>\n<\/h3>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">EUR long 88K vs 62K long last week. Longs increased by 26K<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">GBP long 5K vs 10K short last week.&nbsp; Position moves to long from short.&nbsp; Last time it was positve was October 2015<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">JPY short 71K vs 51K short last week. Shorts increased by 20K.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">CHF short 1.8K vs 1.5K short last week. Shorts increased by 0.3K<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">CAD long 75K vs 59K long. Longs increased by 16K.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">AUD long 77k vs 72k last week.&nbsp; &nbsp;Longs increase by 5K.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">NZD long 8K vs 7K long last week. Longs increased by 1K.<\/span>\n\t<\/li>\n<\/ul>\n<h3>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h3>\n<p>\n\t<span style=\"font-size:14px;\">Asia-Pacific equity markets opened higher on Monday in spite of few major markets in the region being shut for holidays, the optimism was backed by surprisingly strong economic news out of China and Japan in addition to the broadly upbeat sentiment and gains in the U.S. dollar.&nbsp; However, the euro took a knock in Asia on Monday as investors kept an anxious eye on an independence vote in Spain&rsquo;s Catalonia<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">USDJPY is currently seen Trading at 112.83 as the Yen was marginally weak against the US Dollar earlier on Monday. Propelled by the weaker Yen, Japan&rsquo;s Nikkei Stock Average&nbsp;<span data-bgformat=\"\" data-channel=\"\/quotes\/zigman\/5986735\/delayed\">Nikkei<\/span> 225 was up 0.15%. The gains in Asian Markets were in line with analysts&rsquo; bullish expectations for the fourth quarter amid ample market liquidity.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">EURUSD had a very active session early on Monday with Euro dropping to lows around 1.1780 against the USD in the NZ session before retracing to around 1.1815 only to drop again over 50 pips in value once Asian liquidity came in, currently the pair is seen trading around 1.1775. The dollar index, which tracks the greenback against a basket of six major currencies, added 0.3 percent and is currently valued at 93.33.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">AUDUSD is currently seen Trading at 0.7824 down from its session highs of around 0.7850.&nbsp; Notably, Australia&rsquo;s main index&nbsp;S&amp;P\/ASX 200&nbsp;was up earlier jumping 1.1% percent helping support export stocks as the Australian Dollar was weak against the US Dollar. Likewise, The New Zealand Dollar dropped from its session highs of 0.7225 and is currently seen trading closer to it&rsquo;s opening price of around 0.7200 against the US Dollar.<\/span>\n<\/p>\n<h3>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h3>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">07:15 GMT &ndash; (EUR) Retail Sales y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">07:15 GMT &ndash; (EUR) Spanish Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 GMT &ndash; (GBP) Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 GMT &ndash; (EUR) Unemployment Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">14:00 GMT &ndash; (USD) ISM Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">18:00 GMT &ndash; (USD) FOMC Member Kaplan Speaks<\/span>\n\t<\/li>\n<\/ul>\n<h3>\n\t<strong>The Week Ahead:<\/strong><br \/>\n<\/h3>\n<p>\n\t<span style=\"font-size:14px;\"><u>Tuesday, October 3rd<\/u><\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">All Day &ndash; (EUR) German Bank Holiday<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Tentative &ndash; (NZD) GDT Price Index<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">00:30 GMT &ndash; (AUD) Building Approvals m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:30 GMT &ndash; (AUD) Cash Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:30 GMT &ndash; (AUD) RBA Rate Statement<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">07:00 GMT &ndash; (EUR) Spanish Unemployment Change<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 GMT &ndash; (GBP) Construction PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (USD) FOMC Member Powell Speaks<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<u style=\"font-size: 14px;\">Wednesday, October 4<sup>th<\/sup><\/u>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">All Day &ndash; (CNY) Chinese Bank Holiday<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 GMT &ndash; (GBP) Services PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:15 GMT &ndash; (USD) ADP Non-Farm Employment Change<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">14:00 GMT &ndash; (USD) ISM Non-Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">14:30 GMT &ndash; (USD) Crude Oil Inventories<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">17:15 GMT &ndash; (EUR) ECB President Draghi Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">19:15 GMT &ndash; (USD) Fed Chair Yellen Speaks<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<u style=\"font-size: 14px;\">Thursday, October 5th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">All Day &ndash; (CNY) Chinese Bank Holiday<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">00:30 GMT &ndash; (AUD) Retail Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">00:30 GMT &ndash; (AUD) Trade Balance<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:30 GMT &ndash; (EUR) ECB Monetary Policy Meeting Accounts<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (CAD) Trade Balance<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (USD) Unemployment Claims<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (USD) Trade Balance<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">13:10 GMT &ndash; (USD) FOMC Member Powell Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">14:00 GMT &ndash; (USD) FOMC Member Harker Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">14:00 GMT &ndash; (USD) Factory Orders m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">16:00 GMT &ndash; (GBP) MPC Member McCafferty Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">17:30 GMT &ndash; (GBP) MPC Member Haldane Speaks<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\"><u>Friday, October 6th<\/u><\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">All Day &ndash; (CNY) Chinese Bank Holiday<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">07:30 GMT &ndash; (GBP) Halifax HPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:00 GMT &ndash; (GBP) MPC Member Haldane Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (CAD) Employment Change<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (CAD) Unemployment Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (USD) Average Hourly Earnings m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (USD) Non-Farm Employment Change<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (USD) Unemployment Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">14:00 GMT &ndash; (CAD) Ivey PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">16:15 GMT &ndash; (USD) FOMC Member Dudley Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">16:45 GMT &ndash; (USD) FOMC Member Kaplan Speaks<\/span>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.15 %, Shanghai Composite rose 0.28 %, Hang Seng gained 0.48 %, ASX 200 rose 0.1 % Commodities: Gold at $1277.85 (-0.54 %), Silver at $16.62 (-0.33 %), WTI Oil at $51.52 (-0.27 %), Brent Oil at $56.56 (-0.41 %) Rates: US 10-year yield at 2.35, UK 10-year &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/monday-2nd-october-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 2nd October: 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-23100","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\/23100","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=23100"}],"version-history":[{"count":2,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/23100\/revisions"}],"predecessor-version":[{"id":23102,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/23100\/revisions\/23102"}],"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=23100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=23100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=23100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}