{"id":23336,"date":"2017-10-16T10:23:16","date_gmt":"2017-10-16T04:53:16","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=23336"},"modified":"2017-10-16T10:24:53","modified_gmt":"2017-10-16T04:54:53","slug":"monday-16th-october-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/monday-16th-october-european-open-briefing\/","title":{"rendered":"Monday 16th October: European Open Briefing"},"content":{"rendered":"<h4>\n\t<strong>Global Markets:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">Asian stock markets: Nikkei up 0.70 %, Shanghai Composite lower by 0.10 %, Hang Seng gained 0.88 %, ASX 200 rose 0.55 %<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities: Gold at $1304.66 (0.01 %), Silver at $17.38 (-0.16 %), WTI Oil at $51.88 (0.82 %), Brent Oil at $7.80 (1.10 %)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates: US 10-year yield at 2.28, UK 10-year yield at 1.36, German 10-year yield at 0.40<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">(CNY) CPI y\/y <strong>1.6 % vs 1.6 %<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">&nbsp;(CNY) PPI y\/y <strong>6.9 % vs 6.3 %<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Prelim UoM Consumer Sentiment <strong>101.1 vs 95.1<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) CPI 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) Core CPI m\/m <strong>0.1 % vs 0.2 %<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Core Retail Sales m\/m <strong>1.0 % vs 0.9 %<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Retail Sales m\/m <strong>1.6 % vs 1.7 %<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CHF) PPI m\/m <strong>0.5 % vs 0.3 %<\/strong> expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Oil jumps on fears of new Iran sanctions, Iraq conflict<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Euro on defensive on political worries, tame inflation dents dollar- RTRS<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\tCFTC Positioning Data:<br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">EUR long 98K vs 91K long last week.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">GBP long 15K vs 20K long last week.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">JPY short 101K vs 85K short last week.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">CHF short 4.3K vs 3.2K short last week.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">CAD long 76K vs 75K long last week<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">AUD long 69k vs 72k last week.&nbsp;<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">NZD long 6K vs 8K long last week.<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\t<span style=\"font-size:14px;\">Asia-Pacific equity markets advanced to decade highs on Monday. Last week&rsquo;s inflation data in the U.S. added to evidence that global growth is continuing steadily with limited price pressures in the American economy. Japan&rsquo;s benchmark index was leading gains thanks to a weaker yen, as global risk appetite continued to improve.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">USDJPY after a slightly lower open in very early NZ\/Australia recovered partially and is currently seen trading higher at 111.95. Noticeably, The Yen had climbed 0.4 percent against the US Dollar on Friday. The Nikkei Stock Average&nbsp;<span data-bgformat=\"\" data-channel=\"\/quotes\/zigman\/5986735\/delayed\">NIKKEI 225 was up 0.8% earlier today&nbsp;on track to close at another 21-year high as the weaker Yen lifted export and finance stocks.<\/span><\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">EURUSD is little changed with no major movements and is currently seen trading at 1.1804. Overall the Euro slipped 0.2 percent against the US Dollar mainly because of lingering concerns about the Eurozone after a conservative Austrian leader secured a victory in parliamentary elections at the weekend. The&nbsp;dollar index, which tracks the dollar against a basket of currencies was flat and is currently valued at 93.15<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">AUDUSD was mostly consolidating within a 20 pips range in the session maintaining a little lower than its late Friday level and is currently seen Trading at 0.7871. No major movements in the Kiwi Too as the NZ government formation negotiation and jostling continues, The NZDUSD is currently seen trading at 0.7173 down from Friday&rsquo;s highs of 0.7196.<\/span>\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">06:00 GMT &ndash; (EUR) German WPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 GMT &ndash; (EUR) Trade Balance<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (CAD) Foreign Securities Purchases<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (USD) Empire State Manufacturing Index<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">14:30 GMT &ndash; (CAD) BOC Business Outlook Survey<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">21:45 GMT &ndash; (NZD) CPI q\/q<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>The Week Ahead:<\/strong><br \/>\n<\/h4>\n<p>\n\t<span style=\"font-size:14px;\"><u>Tuesday, October 17th<\/u><\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">00:30 GMT &ndash; (AUD) Monetary Policy Meeting Minutes<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">00:30 GMT &ndash; (AUD) RBA Assist Gov Ellis Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:15 GMT &ndash; (GBP) MPC Member Ramsden Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 GMT &ndash; (GBP) CPI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 GMT &ndash; (GBP) PPI Input m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 GMT &ndash; (GBP) RPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 GMT &ndash; (EUR) German ZEW Economic Sentiment<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:15 GMT &ndash; (GBP) MPC Member Tenreyro Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">10:00 GMT &ndash; (EUR) Final CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">10:15 GMT &ndash; (GBP) BOE Gov Carney Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (USD) Import Prices m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">13:15 GMT &ndash; (USD) Capacity Utilization Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">13:15 GMT &ndash; (USD) Industrial Production m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">17:00 GMT &ndash; (USD) FOMC Member Harker Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">19:30 GMT &ndash; (CAD) Gov Council Member Wilkins Speaks<\/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<\/ul>\n<p>\n\t<span style=\"font-size:14px;\"><u>Wednesday, October 18<sup>th<\/sup><\/u><\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">08:10 GMT &ndash; (EUR) ECB President Draghi Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 GMT &ndash; (GBP) Average Earnings Index 3m\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 GMT &ndash; (GBP) Claimant Count Change<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 GMT &ndash; (GBP) Unemployment Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:00 GMT &ndash; (USD) FOMC Member Dudley Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:00 GMT &ndash; (USD) FOMC Member Kaplan Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (CAD) Manufacturing Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (USD) Building Permits<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (USD) Housing Starts<\/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<\/ul>\n<p>\n\t<span style=\"font-size:14px;\"><u>Thursday, October 19th<\/u><\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">00:30 GMT &ndash; (AUD) Employment Change<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">00:30 GMT &ndash; (AUD) Unemployment Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">00:30 GMT &ndash; (AUD) NAB Quarterly Business Confidence<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:10 GMT &ndash; (AUD) RBA Assist Gov Bullock Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:00 GMT &ndash; (CNY) GDP q\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:00 GMT &ndash; (CNY) Industrial Production y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:00 GMT &ndash; (CNY) Fixed Asset Investment ytd\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:00 GMT &ndash; (CNY) NBS Press Conference<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 GMT &ndash; (GBP) Retail Sales 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) Philly Fed Manufacturing Index<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\"><u>Friday, October 20th<\/u><\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 GMT &ndash; (GBP) Public Sector Net Borrowing<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (CAD) CPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (CAD) Core Retail Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (CAD) Common CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (CAD) Median CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (CAD) Retail Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 GMT &ndash; (CAD) Trimmed CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">14:00 GMT &ndash; (USD) Existing Home Sales<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">23:30 GMT &ndash; (USD) Fed Chair Yellen Speaks<\/span>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.70 %, Shanghai Composite lower by 0.10 %, Hang Seng gained 0.88 %, ASX 200 rose 0.55 % Commodities: Gold at $1304.66 (0.01 %), Silver at $17.38 (-0.16 %), WTI Oil at $51.88 (0.82 %), Brent Oil at $7.80 (1.10 %) Rates: US 10-year yield at 2.28, UK &hellip; 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