{"id":24981,"date":"2018-02-07T12:01:07","date_gmt":"2018-02-07T06:31:07","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=24981"},"modified":"2018-02-07T12:09:06","modified_gmt":"2018-02-07T06:39:06","slug":"wednesday-7th-february-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/wednesday-7th-february-european-open-briefing\/","title":{"rendered":"Wednesday 7th 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 up 0.15%, Shanghai Composite down 1.73%, Hang Seng down 0.45%, ASX up 0.75%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities: Gold at $1332.10 (+0.20%), Silver at $16.685 (+0.63%), WTI Oil at $63.80 (+0.65%), Brent Oil at $67.36 (+0.75%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates: US 10-year yield at 2.773, UK 10-year yield at 1.522, German 10-year yield at 0.696<\/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<span style=\"font-size:14px;\">(NZD) Unemployment Rate 4.50% vs 4.70% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(NZD) Employment Change q\/q 0.50% vs 0.40% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Ivey PMI 55.2 vs 60.7 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(NZD) GDT Price Index 5.90% vs 4.90% previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Trade Balance -3.2B vs -2.3B expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Link between employment and wages broken: Bullard<\/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 rebounded after the Wall Street&rsquo;s rebound yesterday. While trading was quite volatile yesterday, US equities have gained the most in a day since Jan-16, after record sell-offs for two days that brought the Dow crashing by more than 1000 points on Monday.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Global growth, earnings growth and tax reform helped shore up sentiment and accentuate the buying of the dip. Nikkei was outperforming today, after having the worst trading day in a decade. However, PBoC skipped OMOs again, adding to the Chinese markets&rsquo; duress by draining liquidity. Hang Seng bounced earlier in the session with energy producers leading the charge amid oil price strength, but has since given away its profits.&nbsp;Gains in mining, energy and financial stocks all lead the Australian stock market higher.&nbsp;<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">However, the increased volatility killed most volatility traders &ndash; the short volatility trade was a popular theme through 2016. Inverse VIX products were under duress, and Credit Suisse decided to shut down its Inverse VIX ETF, after it lost more than 80% in value.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Dollar has been steady against the majors, JPY is off of highs. Gold has been largely flat, while Industrial metals have been weaker. Dollar Index touched resistance level on the 3 day candles near 90 yesterday as had been expected. It is currently below that resistance but could well test it again in this week.<\/span>\n<\/p>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>Upcoming Events:<\/strong><\/span><br \/>\n<\/h4>\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) 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;\">08:00 PM GMT &#8211; (NZD) Official Cash Rate<\/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","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.15%, Shanghai Composite down 1.73%, Hang Seng down 0.45%, ASX up 0.75% Commodities: Gold at $1332.10 (+0.20%), Silver at $16.685 (+0.63%), WTI Oil at $63.80 (+0.65%), Brent Oil at $67.36 (+0.75%) Rates: US 10-year yield at 2.773, UK 10-year yield at 1.522, German 10-year yield at 0.696 News &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/wednesday-7th-february-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 7th 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-24981","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\/24981","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=24981"}],"version-history":[{"count":4,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/24981\/revisions"}],"predecessor-version":[{"id":24985,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/24981\/revisions\/24985"}],"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=24981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=24981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=24981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}