{"id":24996,"date":"2018-02-08T12:15:32","date_gmt":"2018-02-08T06:45:32","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=24996"},"modified":"2018-02-08T12:15:32","modified_gmt":"2018-02-08T06:45:32","slug":"thursday-8th-february-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/thursday-8th-february-european-open-briefing\/","title":{"rendered":"Thursday 8th 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 1.17%, Shanghai Composite down 1.55%, Hang Seng up 0.63%, ASX up 0.24%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities: Gold at $1313.30 (-0.10%), Silver at $16.255 (+0.10%), WTI Oil at $61.64 (-0.24%), Brent Oil at $65.45 (-0.09%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates: US 10-year yield at 2.837, UK 10-year yield at 1.549, German 10-year yield at 0.745<\/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) Trade Balance 136B vs 328B expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(AUD) NAB Quarterly Business Confidence 6 vs 8 previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(NZD) Official Cash Rate 1.75% vs 1.75% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Halifax HPI m\/m -0.60% vs 0.20% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Building Permits m\/m 4.80% vs 2.10% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Crude Oil Inventories 1.9M vs 3.2M expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Senate leaders strike 2 year budget deal ahead of government shutdown deadline<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Trump calls Wall Street slide a &#39;big mistake&#39; given overall economic growth<\/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 have been recovering from the savage earlier this week, and traded higher today. Chinese economic data out late morning showed the country&#39;s trade surplus narrowed sharply in January as imports surged leading to a mixed reaction in Chinese equities.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">The weaker yen, and buying on the dips are helping accelerate Nikkei&rsquo;s recovery. Australian materials traded lower, however, banks helped hold the ASX steady.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">Dollar slightly strengthened against major currencies, including a weaker yen. Yuan moved by as much as 1%, as trade data came in. While the Australian dollar was mixed, Kiwi dollar took a hit after the central bank&rsquo;s dovish policy statement.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">From the US Fed&rsquo;s side, Williams said gradual tightening to continue and will not overreact to good news<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">Oil has been lower, as was yesterday, with US crude output at a high. While the safe yellow metal was expected to gain from the equity rout, response has been muted.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">Meanwhile, the yield on 10-year Treasury fell to 2.81% from 2.84% after congressional leaders said they had reached an agreement on a two-year budget deal.&nbsp;<\/span>\n<\/p>\n<h4>\n\t<strong style=\"font-size: 14px;\">Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\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) 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<li>\n\t\t<span style=\"font-size:14px;\">Tentative &#8211; (USD) Mortgage Delinquencies<\/span>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 1.17%, Shanghai Composite down 1.55%, Hang Seng up 0.63%, ASX up 0.24% Commodities: Gold at $1313.30 (-0.10%), Silver at $16.255 (+0.10%), WTI Oil at $61.64 (-0.24%), Brent Oil at $65.45 (-0.09%) Rates: US 10-year yield at 2.837, UK 10-year yield at 1.549, German 10-year yield at 0.745 News &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/thursday-8th-february-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Thursday 8th 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-24996","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\/24996","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=24996"}],"version-history":[{"count":2,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/24996\/revisions"}],"predecessor-version":[{"id":24998,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/24996\/revisions\/24998"}],"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=24996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=24996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=24996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}