{"id":24947,"date":"2018-02-05T12:05:46","date_gmt":"2018-02-05T06:35:46","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=24947"},"modified":"2018-02-05T12:20:07","modified_gmt":"2018-02-05T06:50:07","slug":"monday-5th-february-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/monday-5th-february-european-open-briefing\/","title":{"rendered":"Monday 5th February: 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 2.53%, Shanghai Composite up 0.40%, Hang Seng down 1.19%, ASX down 1.56%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities: Gold at $1334.40 (-0.22%), Silver at $16.66 (-0.29%), WTI Oil at $64.89 (-0.86%), Brent Oil at $67.94 (-0.94%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates: US 10-year yield at 2.866, UK 10-year yield at 1.563, German 10-year yield at 0.763<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong style=\"font-size: 14px;\">News &amp; Data:<\/strong><span style=\"font-size:14px;\">&nbsp;&nbsp;<\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">(CNY) Caixin Services PMI 54.7 vs 53.6 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Revised UoM Consumer Sentiment 95.7 vs 95 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Unemployment Rate 4.10% vs 4.10% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Non-Farm Employment Change 200K vs 181K expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Average Hourly Earnings m\/m 0.30% vs 0.20% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Construction PMI 50.2 vs 52 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) Spanish Unemployment Change 63.7K vs 50.3K expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Global Equity Slump Deepens as Rate Fears Grow<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">A decade after recession, a jump in U.S. states with wage gains- RTRS<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong style=\"font-size: 14px;\">CFTC Positioning Data (Week Ending January 30, 2018)<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">EUR long 149K vs 145K long last week.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">GBP long 32K vs 33K long last week.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">JPY short 114K vs 123K short last week.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">CHF short 20K vs 22K short last week.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">CAD long 33K vs 23K long last week<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">AUD long 13k vs 17K long last week.&nbsp;<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">NZD long 3K vs 1K short last week.<\/span>\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;\">Asian markets witnessed steep declines today. Bond yields at an all-time high, and the rout in US markets on Friday reflected in the Asian markets today, which have now wiped off most of their 2018 gains. Strong NFP data, along with rising wage growth has fuelled higher inflation expectations, leading to speculation that the Fed will tighten at a pace (with a rate hike coming in as early as March) faster than assumed earlier.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">While the Nikkei fell, the yen strengthened. US futures were also trading lower during the US session, suggesting that the decline will continue when US markets open today. Chinese markets have fared better than peers in the region, although they have been under the selling pressure too. On the other hand, services activity from China, Japan and Australia have shown improvements month on month.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">The US Dollar has weakened against most major currencies, but at the same time, oil and gold prices have also fallen. In her outgoing remarks, Janet Yellen stopped shy of calling equities and real estate a bubble, but emphasized the position of precious metals in their portfolio.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Bitcoin is trading above 8000, following sell-offs last week. It is to be seen if current levels can be sustained.<\/span>\n<\/p>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>Upcoming Events:<\/strong><\/span><span style=\"font-size:14px;\">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/span><br \/>\n<\/h4>\n<p>\n\t<span style=\"font-size:14px;\">Monday, 5<sup>th<\/sup> February<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Services PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (USD) ISM Non-Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">04:00 PM GMT &#8211; (EUR) ECB President Draghi Speaks<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size: 14px;\">Tuesday, 6<\/span><sup>th<\/sup><span style=\"font-size: 14px;\"> February<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 AM GMT &#8211; (AUD) Retail Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 AM GMT &#8211; (AUD) Trade Balance<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:30 AM GMT &#8211; (AUD) Cash Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:30 AM GMT &#8211; (AUD) RBA Rate Statement<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 AM GMT &#8211; (EUR) German Buba President Weidmann Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Trade Balance<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Tentative &#8211; (NZD) GDT Price Index<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (CAD) Ivey PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:45 PM GMT &#8211; (NZD) Employment Change q\/q<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:45 PM GMT &#8211; (NZD) Unemployment Rate<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size: 14px;\">Wednesday, 7<\/span><sup>th<\/sup><span style=\"font-size: 14px;\"> February<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 AM GMT &#8211; (GBP) Halifax HPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Building Permits m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) FOMC Member Dudley Speaks<\/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;\">08:00 PM GMT &#8211; (NZD) Official Cash Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:00 PM GMT &#8211; (NZD) RBNZ Monetary Policy Statement<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:00 PM GMT &#8211; (NZD) RBNZ Rate Statement<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 PM GMT &#8211; (NZD) RBNZ Press Conference<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">10:20 PM GMT &#8211; (USD) FOMC Member Williams Speaks<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size: 14px;\">Thursday, 8<\/span><sup>th<\/sup><span style=\"font-size: 14px;\"> February<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">12:00 AM GMT &#8211; (NZD) RBNZ Gov Spencer Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 AM GMT &#8211; (AUD) NAB Quarterly Business Confidence<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:45 AM GMT &#8211; (EUR) German Buba President Weidmann Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 AM GMT &#8211; (AUD) RBA Gov Lowe Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:00 PM GMT &#8211; (GBP) BOE Inflation Report<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:00 PM GMT &#8211; (GBP) MPC Official Bank Rate Votes<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:00 PM GMT &#8211; (GBP) Monetary Policy Summary<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:00 PM GMT &#8211; (GBP) Official Bank Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:00 PM GMT &#8211; (GBP) Asset Purchase Facility<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:00 PM GMT &#8211; (GBP) BOE Inflation Letter<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:00 PM GMT &#8211; (GBP) MPC Asset Purchase Facility Votes<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) NHPI m\/m<\/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;\">05:45 PM GMT &#8211; (CAD) Gov Council Member Wilkins Speaks<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Friday, 9<sup>th<\/sup> February<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 AM GMT &#8211; (AUD) RBA Monetary Policy Statement<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 AM GMT &#8211; (CNY) CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 AM GMT &#8211; (CNY) PPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Manufacturing Production m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Goods Trade Balance<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Employment Change<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Unemployment Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">04:45 PM GMT &#8211; (GBP) MPC Member Cunliffe 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 2.53%, Shanghai Composite up 0.40%, Hang Seng down 1.19%, ASX down 1.56% Commodities: Gold at $1334.40 (-0.22%), Silver at $16.66 (-0.29%), WTI Oil at $64.89 (-0.86%), Brent Oil at $67.94 (-0.94%) Rates: US 10-year yield at 2.866, UK 10-year yield at 1.563, German 10-year yield at 0.763 News &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/monday-5th-february-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 5th February: 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-24947","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\/24947","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=24947"}],"version-history":[{"count":3,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/24947\/revisions"}],"predecessor-version":[{"id":24950,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/24947\/revisions\/24950"}],"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=24947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=24947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=24947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}