{"id":24749,"date":"2018-01-22T11:20:32","date_gmt":"2018-01-22T05:50:32","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=24749"},"modified":"2018-01-22T11:34:28","modified_gmt":"2018-01-22T06:04:28","slug":"monday-22nd-january-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/monday-22nd-january-european-open-briefing\/","title":{"rendered":"Monday 22nd January: European Open Briefing"},"content":{"rendered":"<h4>\n\t<span style=\"font-size:14px;\"><strong>Global Markets:<\/strong><\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">Asian stock markets: Nikkei down 0.21%, Shanghai Composite up 0.16 %, Hang Seng gained 0.16 %, ASX down 0.23%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities: Gold at $1330.90 (-0.17%), Silver at $17.00 (-0.21%), WTI Oil at $63.41 (+0.16 %), Brent Oil at $68.78 (+0.25 %)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates: US 10-year yield at 2.650, UK 10-year yield at 1.342, German 10-year yield at 0.576<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>News &amp; Data:<\/strong>&nbsp;&nbsp;<\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t(EUR) German PPI m\/m <strong>0.2% vs 0.2% <\/strong>expected\n\t<\/li>\n<li>\n\t\t(CHF) PPI m\/m <strong>0.2% vs 0.4% <\/strong>expected\n\t<\/li>\n<li>\n\t\t(EUR) Current Account <strong>32.5B vs 31.3B<\/strong> expected\n\t<\/li>\n<li>\n\t\t(GBP) Retail Sales m\/m <strong>-1.5% vs -0.8%<\/strong> expected\n\t<\/li>\n<li>\n\t\t(CAD) Foreign Securities Purchases <strong>19.56B vs 15.76B<\/strong> expected\n\t<\/li>\n<li>\n\t\t(CAD) Manufacturing Sales m\/m <strong>3.4% vs 1.9%<\/strong> expected\n\t<\/li>\n<li>\n\t\t&nbsp;(USD) Prelim UoM Consumer Sentiment <strong>94.4 vs 97 <\/strong>expected\n\t<\/li>\n<li>\n\t\t(USD) Prelim UoM Inflation Expectations <strong>2.8% vs 2.7%<\/strong> previous\n\t<\/li>\n<li>\n\t\tShutdown to enter a third day as Senate plans to vote Monday after failing to reach deal\n\t<\/li>\n<li>\n\t\tDollar sags on U.S. government shutdown, losses limited for now\n\t<\/li>\n<li>\n\t\tRussia and OPEC agree to output cuts till end of the year\n\t<\/li>\n<\/ul>\n<h4 style=\"margin: 0px 0px 14px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; font-size: 18px; line-height: 30px; font-family: Roboto, Helvetica, sans-serif; vertical-align: baseline; outline: none; -webkit-font-smoothing: antialiased !important;\">\n\t<span style=\"margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: 14px; line-height: inherit; font-family: inherit; vertical-align: baseline;\"><strong style=\"margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-stretch: inherit; font-size: inherit; line-height: inherit; font-family: inherit; vertical-align: baseline;\">CFTC Positioning Data (Week ending Jan 16, 2017)<\/strong><\/span><br \/>\n<\/h4>\n<ul style=\"margin: 0px; padding-right: 30px; padding-left: 30px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; font-family: Helvetica, Arial, sans-serif; vertical-align: baseline; list-style: circle outside; color: rgb(84, 84, 84);\">\n<\/ul>\n<ul style=\"box-sizing: border-box; margin-top: 0px; margin-bottom: 10px; font-family: &quot;Segoe UI&quot;, OpenS, Tahoma, Geneva, Verdana, sans-serif; font-size: 14px;\">\n<li>\n\t\t<span style=\"font-size:14px;\">EUR long 139K vs 145K last week.&nbsp; Longs decreased by 6K<\/span>\n\t<\/li>\n<li style=\"box-sizing: border-box;\">\n\t\tGBP long 26K vs 26K long last week.&nbsp; No change.\n\t<\/li>\n<li style=\"box-sizing: border-box;\">\n\t\tJPY short 119K vs 126K short last week. Shorts decreased by 7K\n\t<\/li>\n<li style=\"box-sizing: border-box;\">\n\t\tCHF short 21K vs 22K short last week. Shorts decreased by 1K\n\t<\/li>\n<li style=\"box-sizing: border-box;\">\n\t\tCAD long 18K vs 17K long last week. Longs increased by 1K.\n\t<\/li>\n<li style=\"box-sizing: border-box;\">\n\t\tAUD long 10K vs 5K short last week.&nbsp; Longs increase by 5K\n\t<\/li>\n<li style=\"box-sizing: border-box;\">\n\t\tNZD short 8K vs 11K&nbsp;short last week. Shorts decreased by 3K\n\t<\/li>\n<\/ul>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>Markets Update:<\/strong><\/span><br \/>\n<\/h4>\n<p>\n\t<span style=\"font-size:14px;\">The momentum seen last week in Asian markets was missing in today&rsquo;s trading, as investors tried to assess the impact of the US shutdown. Asian markets exhibited a mixed sentiment, while S&amp;P 500 futures were downwards. However, analysts opine that the effect should be limited as the rally has been driven by &lsquo;broadening economic growth and profit expansion&rsquo;. Also, the fiscal debt ceiling which is more relevant to equity markets, is not in the picture this time around.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The Yen and USD have both strengthened over the weekend. The USD has been driven by anticipation of possible hawkish remarks from the Fed. The US yields also exhibited a similar upward move, as near term inflation expectations are significantly higher.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">While the Euro had gained on SDP&rsquo;s willingness to create an alliance in Germany, thereby securing Merkel her fourth term, bringing to an end uncertainty of months, it pared its gains later on. Chinese yuan rose today on solid economic data, and is now trading at the significant 6.4 level against the USD.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">While yields across Europe were driving by the news of ECB planning to end its asset purchase program in September, recent reports that it may not, have led to a decline in Bund yields. The central bank decisions later this week will provide clarity on the situation.<\/span>\n<\/p>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>Upcoming Events:<\/strong><\/span><br \/>\n<\/h4>\n<p>\n\t<u><span style=\"font-size:14px;\">Monday, January 22<\/span><\/u>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">All Day GMT &#8211; (EUR) Eurogroup Meetings<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:00 AM GMT &#8211; (EUR) German Buba Monthly Report<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Wholesale Sales m\/m<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<u><span style=\"font-size:14px;\">Tuesday, January 23<\/span><\/u>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">Tentative &#8211; (JPY) Monetary Policy Statement; BOJ Outlook Report; BOJ Policy Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">04:30 AM GMT &#8211; (JPY) All Industries Activity m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">06:30 AM GMT &#8211; (JPY) BOJ Press Conference<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Public Sector Net Borrowing<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">10:00 AM GMT &#8211; (EUR) German ZEW Economic Sentiment<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">10:00 AM GMT &#8211; (EUR) ZEW Economic Sentiment<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">All Day &#8211; (EUR) ECOFIN Meetings<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:00 AM GMT &#8211; (GBP) CBI Industrial Order Expectations<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (EUR) Consumer Confidence<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (USD) Richmond Manufacturing Index<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:30 PM GMT &#8211; (AUD) MI Leading Index m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:50 PM GMT &#8211; (JPY) Trade Balance<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<u><span style=\"font-size:14px;\">Wednesday, January 24<\/span><\/u>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 AM GMT &#8211; (JPY) Flash Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:00 AM GMT &#8211; (NZD) Credit Card Spending y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:00 AM GMT &#8211; (EUR) French Flash Manufacturing PMI ; French Flash Services PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 AM GMT &#8211; (EUR) German Flash Manufacturing PMI; German Flash Services PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 AM GMT &#8211; (EUR) Flash Manufacturing PMI; Flash Services PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Average Earnings Index 3m\/y; Claimant Count Change; Unemployment Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:00 PM GMT &#8211; (USD) HPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:45 PM GMT &#8211; (USD) Flash Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:45 PM GMT &#8211; (USD) Flash Services PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (USD) Existing Home Sales<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:30 PM GMT &#8211; (AUD) CB Leading Index m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:30 PM GMT &#8211; (USD) Crude Oil Inventories<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:45 PM GMT &#8211; (NZD) CPI q\/q<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<u><span style=\"font-size:14px;\">Thursday, January 25<\/span><\/u>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">07:00 AM GMT &#8211; (EUR) German GfK Consumer Climate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:00 AM GMT &#8211; (EUR) Spanish Unemployment Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 AM GMT &#8211; (EUR) German Ifo Business Climate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) High Street Lending<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:00 AM GMT &#8211; (GBP) CBI Realized Sales<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:45 PM GMT &#8211; (EUR) Minimum Bid Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Core Retail Sales m\/m; Retail Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (EUR) ECB Press Conference<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Unemployment Claims<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Goods Trade Balance<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Prelim Wholesale Inventories m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:00 PM GMT &#8211; (EUR) Belgian NBB Business Climate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (USD) New Home Sales<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (USD) CB Leading Index m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:30 PM GMT &#8211; (USD) Natural Gas Storage<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:30 PM GMT &#8211; (JPY) National Core CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:30 PM GMT &#8211; (JPY) Tokyo Core CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:50 PM GMT &#8211; (JPY) Monetary Policy Meeting Minutes<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:50 PM GMT &#8211; (JPY) SPPI y\/y<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<u><span style=\"font-size: 14px;\">Friday, January 26<\/span><\/u>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 AM GMT &#8211; (EUR) M3 Money Supply y\/y; Private Loans y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Prelim GDP q\/q<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Index of Services 3m\/3m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) CPI m\/m; Common CPI y\/y; Median CPI y\/y; Trimmed CPI y\/y; Core CPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Advance GDP q\/q; Advance GDP Price Index q\/q<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Core Durable Goods Orders m\/m; Durable Goods Orders m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:00 PM GMT &#8211; (CNY) CB Leading Index m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:00 PM GMT &#8211; (GBP) BOE Gov Carney Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:00 PM GMT &#8211; (JPY) BOJ Gov Kuroda Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\"><a href=\"https:\/\/www.icmarkets.com\/education\/forex-news-and-calendar\/\">&amp;more&hellip;<\/a><\/span>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 0.21%, Shanghai Composite up 0.16 %, Hang Seng gained 0.16 %, ASX down 0.23% Commodities: Gold at $1330.90 (-0.17%), Silver at $17.00 (-0.21%), WTI Oil at $63.41 (+0.16 %), Brent Oil at $68.78 (+0.25 %) Rates: US 10-year yield at 2.650, UK 10-year yield at 1.342, German 10-year &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/monday-22nd-january-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 22nd January: 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-24749","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\/24749","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=24749"}],"version-history":[{"count":2,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/24749\/revisions"}],"predecessor-version":[{"id":24751,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/24749\/revisions\/24751"}],"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=24749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=24749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=24749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}