{"id":23180,"date":"2017-10-09T10:38:56","date_gmt":"2017-10-09T05:08:56","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=23180"},"modified":"2017-10-09T22:24:26","modified_gmt":"2017-10-09T16:54:26","slug":"monday-9th-october-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/monday-9th-october-european-open-briefing\/","title":{"rendered":"Monday 9th 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 0.30 %, Shanghai Composite rose 1.14 %, Hang Seng lost 0.34 %, ASX 200 rose 0.61 %<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities: Gold at $1285.26 (0.81 %), Silver at $16.96 (1.06 %), WTI Oil at $49.47 (0.37 %), Brent Oil at $55.76 (0.25 %)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates: US 10-year yield at 2.36, 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;\">(CNY) Caixin Services PMI 50.6<strong> vs 53.1 <\/strong>expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">&nbsp;(USD) Average Hourly Earnings m\/m <strong>0.5 % vs 0.3 %<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Non-Farm Employment Change <strong>-33 K vs 82 K <\/strong>expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Unemployment Rate <strong>4.2 % vs 4.4 %<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Ivey PMI <strong>59.6 vs 56.0<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Halifax HPI m\/m <strong>0.8 % vs 0.0 %<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Employment Change <strong>10.0 K vs 13.9 K <\/strong>expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Unemployment Rate <strong>6.2 % vs 6.3 %<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">China services sector growth falls to 21-month low in September: Caixin PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Oil up on expectation of Saudi production restraint, lower U.S. rig count- 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 91K vs 88K long last week.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">GBP long 20K vs 5K long last week.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">JPY short 85K vs 71K short last week.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">CHF short 3.2K vs 1.8K short last week.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">CAD long 75K vs 75K long last week<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">AUD long 72k vs 77k last week.&nbsp;<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">NZD long 8K vs 8K long last week.<\/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 mostly Opened higher on Monday, led by buying in China hitting a 21 month high after a weeklong holiday there. Hong Kong stocks, however, fell modestly after hitting 10-year highs Friday.&nbsp;Turkey&rsquo;s lira also tumbled as relations with the U.S.&nbsp;deteriorated. Liquidity was lacking with Japan and South Korea on holiday and a partial holiday in the United States where stocks will be open but bonds will be closed.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">USDJPY is currently seen Trading near today&rsquo;s opening level at 112.60, The USD had dropped close to 30 pips earlier in the session against the Yen reaching lows of 112.32 before recovering to current levels. Overall the Dollar is a shade softer across the currency markets today. Notably the Dollar was seen trading as high as 113.43 on Friday against the Yen.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">EURUSD opened the week around the lows of 1.1725 and reached as highs as 1.1747 in the session before settling around current levels of 1.1735. Overall the Euro gained 0.1 percent against the US Dollar. Likewise, GBPUSD is seen trading around 1.3095 as the Pound added over 0.1 percent against the US Dollar. The&nbsp;dollar index, which tracks the dollar against a basket of currencies was flat is currently valued at 93.75<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">AUDUSD has maintained a little lower than its late Friday level and is currently seen Trading at 0.7760 down from its session highs of 0.7782. The Kiwi opened creating fresh lows of 0.7058 earlier in the session before retracing partially against the USD. NZDUSD is currently seen trading at 0.7073 overall down by 0.2 percent.<\/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;\">All Day &ndash; (JPY) German Bank Holiday<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">All Day &ndash; (CAD) German Industrial Production m\/m<\/span>\n\t<\/li>\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;\">06:00 GMT &ndash; (EUR) <\/span>German Industrial Production m\/m\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 GMT &ndash; (EUR) Sentix Investor Confidence<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">23:01 GMT &ndash; (GBP) BRC Retail Sales Monitor y\/y\\<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">23:50 GMT &ndash; (JPY) Current Account<\/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 10th<\/u><\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">00:30 GMT &ndash; (AUD) NAB Business Confidence<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:20 GMT &ndash; (AUD) RBA Assist Gov Debelle Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 GMT &ndash; (AUD) Manufacturing Production m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 GMT &ndash; (GBP) Goods Trade Balance<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (CAD) Building Permits m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">14:00 GMT &ndash; (USD) FOMC Member Kashkari Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">18:00 GMT &ndash; (CAD) Gov Council Member Wilkins Speaks<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\"><u>Wednesday, October 11<sup>th<\/sup><\/u><\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">00:00 GMT &ndash; (USD) FOMC Member Kaplan Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">14:00 GMT &ndash; (USD) JOLTS Job Openings<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">18:00 GMT &ndash; (USD) FOMC Meeting Minutes<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">21:45 GMT &ndash; (NZD) FPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">23:01 GMT &ndash; (GBP) RICS House Price Balance<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">23:50 GMT &ndash; (JPY) Bank Lending y\/y<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<u style=\"font-size: 14px;\">Thursday, October 12th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 GMT &ndash; (GBP) BOE Credit Conditions Survey<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 GMT &ndash; (EUR) Industrial Production m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (CAD) NHPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (USD) PPI m\/m<\/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) Core PPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">14:30 GMT &ndash; (EUR) ECB President Draghi Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">14:30 GMT &ndash; (USD) FOMC Member Brainard Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">14:30 GMT &ndash; (USD) FOMC Member Powell Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">15:00 GMT &ndash; (USD) Crude Oil Inventories<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">19:10 GMT &ndash; (CAD) Gov Council Member Wilkins Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">21:30 GMT &ndash; (NZD) Business NZ Manufacturing Index<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<u style=\"font-size: 14px;\">Friday, October 13th<\/u>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">Tentative &ndash; (CNY) Trade Balance<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">00:30 GMT &ndash; (AUD) RBA Financial Stability Review<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">07:15 GMT &ndash; (CHF) PPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (USD) CPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (USD) Core CPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (USD) Core Retail Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (USD) Retail Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">14:00 GMT &ndash; (USD) Prelim UoM Consumer Sentiment<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">14:25 GMT &ndash; (USD) FOMC Member Evans Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">15:30 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 0.30 %, Shanghai Composite rose 1.14 %, Hang Seng lost 0.34 %, ASX 200 rose 0.61 % Commodities: Gold at $1285.26 (0.81 %), Silver at $16.96 (1.06 %), WTI Oil at $49.47 (0.37 %), Brent Oil at $55.76 (0.25 %) Rates: US 10-year yield at 2.36, UK 10-year &hellip; 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