{"id":25014,"date":"2018-02-09T12:31:34","date_gmt":"2018-02-09T07:01:34","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=25014"},"modified":"2018-02-09T12:31:34","modified_gmt":"2018-02-09T07:01:34","slug":"friday-9th-february-european-open-briefing","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/friday-9th-february-european-open-briefing\/","title":{"rendered":"Friday 9th February: 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 down 2.27%, Shanghai Composite down 4.27%, Hang Seng down 3.29%, ASX down 0.89%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities: Gold at $1321.90 (+0.24%), Silver at $16.365 (+0.15%), WTI Oil at $60.52 (-1.03%), Brent Oil at $64.38 (-0.66%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates: US 10-year yield at 2.829, UK 10-year yield at 1.624, German 10-year yield at 0.759<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong>&nbsp;&nbsp;<br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Mortgage Delinquencies 5.17% vs 4.88% previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Unemployment Claims 221K vs 232K expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) NHPI m\/m 0.00% vs 0.10% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) MPC Asset Purchase Facility Votes 0-0-9 vs 0-0-9 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Official Bank Rate 0.50% vs 0.50% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) MPC Official Bank Rate Votes 0-0-9 vs 0-0-9 expected<\/span>\n\t<\/li>\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;\">Senate Passes Budget Bill to Raise Spending and Reopen Government<\/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;\">Asian markets declined significantly, echoing the sentiment in Wall Street. Equity sell off has been rampant, with volatility continuing to play the villain. The S&amp;P is now officially in correction territory. Chinese equities have been under heavy pressure, with the sell-off most evident in large-cap stocks which have outperformed over the past year. PBoC continues to skip OMOs, thereby draining liquidity. Nikkei has been rangebound, after declining at the open. <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">On the brighter side, ASX has relatively outperformed with financials and iron producers declining mildly. The RBA Statement of Monetary Policy, which kept inflation and GDP forecasts unchanged, does not seem to have affected the markets.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Thursday was a volatile day for US Treasuries as well &ndash; however regional yields do not reflect the same; JGB steady, Aussie bonds have strengthened. The US Dollar has been mixed against the majors; the yen is off record highs against the dollar. Crude has declined, while precious metals have been largely flat<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Rate hike prospects continue to play spoilsport to equity markets. Central Bank policy shifts, and clarity on the same will dictate markets in the coming sessions<\/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;\">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<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 2.27%, Shanghai Composite down 4.27%, Hang Seng down 3.29%, ASX down 0.89% Commodities: Gold at $1321.90 (+0.24%), Silver at $16.365 (+0.15%), WTI Oil at $60.52 (-1.03%), Brent Oil at $64.38 (-0.66%) Rates: US 10-year yield at 2.829, UK 10-year yield at 1.624, German 10-year yield at 0.759 News &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/friday-9th-february-european-open-briefing\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Friday 9th 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-25014","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\/25014","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=25014"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25014\/revisions"}],"predecessor-version":[{"id":25015,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25014\/revisions\/25015"}],"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=25014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=25014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=25014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}