Thursday 5th February: European Open Briefing

Posted On 05 Feb 2015

By : IC Markets

Comment: 0

Tag: EURUSD, GBP, GBPUSD, Gold

Global Markets:

Asian stock markets: Nikkei down 0.75 %, Shanghai Composite gained 1.20 %, Hang Seng rose 0.50 %, ASX up 0.60 %
Commodities: Gold at $1272 (+0.60 %), Silver at $17.44 (+0.30 %), WTI Oil at $48.42 (-0.05 %), Brent Oil at $54.45 (-0.20 %)
Rates: US 10 year yield at 1.742, UK 10 year yield at 1.521, German 10 year yield 0.367

News & Data:

Australia Retail Sales 0.2 % m/m, Expected: 0.4 %, Previous: 0.1 %
Australia Retail Sales 1.5 % y/y, Expected: 1.0 %, Previous: 0.9 %
Australia HIA New Home Sales -1.9 %, Previous: 2.2 %
Asia Stocks Fall on Euro Concern; China Futures Jump amid Easing (BBG)

Markets Update:

EUR/USD fell to a low of 1.13 overnight as the ECB announced last night that the waiver that allowed Greece to swap its junk-rated debt for money would expire on February 11, well ahead of the previous deadline of February 28th. This happened despite a meeting between ECB President Draghi and the Greek Finance Minister. Dealers reported that leveraged funds resumed EUR-selling, but EUR/JPY demand from Japanese names helped the pair recover to 1.1360. USD/JPY continues to consolidate, with many waiting for the NFP release. 116.85 and 118.00 are now the key levels to watch for.

Upcoming Events:

07:00 GMT – German Factory Orders (1.5 % m/m)
12:00 GMT – Bank of England Interest Rate Decision (0.50 %)
13:30 GMT – US Initial Jobless Claims (290k)
13:30 GMT – US Trade Balance (-$38bln)
13:30 GMT – Canadian Trade Balance (-C$1bln)

The post Thursday 5th February: European Open Briefing appeared first on .

Source:: Thursday 5th February: European Open Briefing

About the Author

IC Markets is one of the world’s only True ECN forex brokers providing trading solutions for active day traders and scalpers as well as traders that are new to the forex market. IC Markets offers its clients cutting edge trading platforms, low latency connectivity and superior liquidity. IC Markets is revolutionizing on-line forex trading, on-line traders are now able to gain access to pricing and liquidity previously only available to investment banks and high net worth individuals. Visit IC Markets Website [space height="20"] [social type="facebook"]https://www.facebook.com/icmarkets[/social] [social type="twitter"]https://twitter.com/IC_Markets[/social] [social type="google-plus"]https://plus.google.com/+Icmarketsforex/posts[/social] [social type="youtube"]http://www.youtube.com/user/ICMarkets/[/social]