{"id":11951,"date":"2015-03-13T06:15:19","date_gmt":"2015-03-13T06:15:19","guid":{"rendered":"http:\/\/www.icmarkets.com\/?p=11951"},"modified":"2015-03-19T03:42:26","modified_gmt":"2015-03-19T03:42:26","slug":"friday-13th-march-european-open-briefing","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/friday-13th-march-european-open-briefing\/","title":{"rendered":"Friday 13th March: European Open Briefing"},"content":{"rendered":"<p>\n\t<strong>Global Markets:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\tAsian stock markets: Nikkei up 1.80 %, Shanghai Composite gained 0.70 %, Hang Seng rose 02.0 %, ASX declined 0.60 %\n\t<\/li>\n<li>\n\t\tCommodities: Gold at $1159 (+0.65 %), Silver at $15.62 (+0.70 %), WTI Oil at $47.20 (+0.30 %), Brent Oil at $57.25 (+0.30 %)\n\t<\/li>\n<li>\n\t\tRates: US 10 year yield at 2.125, UK 10 year yield at 1.764, German 10 year yield at 0.251\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>News &amp; Data:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\tJapan Industrial Production 3.7 %, Expected: 4.0 %, Previous: 4.0 %\n\t<\/li>\n<li>\n\t\tJapan Capacity Utilization 3.6 %, Previous: 2.0 %\n\t<\/li>\n<li>\n\t\tNew Zealand Business PMI 55.9, Previous: 50.7\n\t<\/li>\n<li>\n\t\tNikkei 225 hits a fresh 15 year high\n\t<\/li>\n<\/ul>\n<p>\n\t<strong>Markets Update:<\/strong>\n<\/p>\n<p>\n\tEUR\/USD had a bit of a bounce yesterday after worse than expected US retail sales. However, the pair failed to sustain momentum above 1.0680 and is now back sub-1.06. Dealers report that decent selling interest lies between 1.07 and 1.0730. While there is a good chance of some position covering ahead of the weekend, we will need to see a clear break &amp; daily close above that area to trigger a larger short squeeze. Meanwhile, GBP\/USD is under increased pressure and is now trading within the key support area at 1.4800-40. A test of the 2013 low at 1.48 is just a matter of time. EUR\/GBP benefited from the GBP weakness and extended gains towards 0.7145 overnight.\n<\/p>\n<p>\n\tUSD\/JPY is still surprisingly quiet. The pair fell to a low of 120.80 after the bad US econ data, but demand from leveraged funds led to a quick rebound. In the APAC session, USD\/JPY traded within a 121.25-55 range. Techs suggest further gains are ahead and 121.90\/122.00 are the next bull targets. NZD\/USD had an impressive rally in the past 36 hours, but ran into decent resistance in the 0.7415-30 area. Offers pre-0.7450 capped the topside for now and the pivotal short-term support level now lies at 0.7320.\n<\/p>\n<p>\n\tLooking ahead, we don&rsquo;t have many data releases in the EU session, but it should get more volatile in the NY session, with US PPI data and Canadian employment numbers.\n<\/p>\n<p>\n\t<strong>Upcoming Events:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\t07:00 GMT &#8211; German WPI (-0.2 % m\/m)\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; Italian CPI (0.3 % m\/m, -0.2 % y\/y)\n\t<\/li>\n<li>\n\t\t09:00 GMT &#8211; Italian HICP (0.3 % m\/m, 0.1 % y\/y)\n\t<\/li>\n<li>\n\t\t12:30 GMT &#8211; US PPI (0.3 % m\/m, 0.0 % y\/y)\n\t<\/li>\n<li>\n\t\t12:30 GMT &#8211; US Core PPI (0.1 % m\/m, 1.6 % y\/y)\n\t<\/li>\n<li>\n\t\t12:30 GMT &#8211; Canadian Employment Change (-5.0k)\n\t<\/li>\n<li>\n\t\t12:30 GMT &#8211; Canadian Unemployment Rate (7.0 %)\n\t<\/li>\n<li>\n\t\t14:00 GMT &#8211; US Michigan Consumer Sentiment (95.5)\n\t<\/li>\n<li>\n\t\t14:00 GMT &#8211; US Michigan Consumer Expectations (87.5)\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 1.80 %, Shanghai Composite [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":12469,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[216,215],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/11951"}],"collection":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/comments?post=11951"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/11951\/revisions"}],"predecessor-version":[{"id":12985,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/11951\/revisions\/12985"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media\/12469"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=11951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=11951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=11951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}