European Market Preview

okay good afternoon Traders and happy New Year uh from me here Nick Twi out in the Sydney office uh well uncharacteristically it has been raining cats and dogs here in Sydney so the cricket didn't go very far um but we're just settling into the the New Year here in the office um and quite predicted predicted predictably rather um markets have been pretty quiet now there was a lot of anticipation um on what's going on with China there's been uh a bit of volatility out there both with the currency and with the stock markets now um the Shanghai composite actually opened about 3% down um and people were looking for that to continue on um but fortunately um it's actually rallied quite nicely it's recovered it's now up uh 0.5% so I just whip over to my stock market and that's led to a bit of a recovery across the board um everyone thought Poss and Shan here ASX uh is still down 1.5% but looking across rest of the board um there's the Nick ey that's pretty much flat um and here's the Composites there 8% up um and 0 41% up on the Chinese now just whipping across I suppose the main currency we were looking at really was Dolly Yen for some uh pretty volatile movements it's sort of settled down a bit really um so low down here around about 119 but it's recovered all the way back up to 11970 we're staying away from it in the middle of these ranges it really is getting dragged about by uh some fairly um hard moves don't forget liquidity is still not quite back in the market I would say probably that we'll just be coming in as we move into the end of this week the Market's certainly looking to get going and levels are becoming prevalent um so Dolen um obviously he's had a nice move back from the uh from the start of the Year highs up near 12040 been down to 11870 so um probably if guys looking to get shorten it maybe around uh around the cloud coming here or certainly I'll be waiting for probably through it to get nearer to 120 um looking across the rest of the currencies it's actually been fairly quiet there's that recovery in the Aussie a lot of selling on the anticipation of uh of more collapsing through China or or more negative stuff out of China but a bit of recovery back above 72 the figure having been all the way down to 7150 um looking ahead into tonight's European session um there's a couple of fundamental data releases to get stuck into um I suppose the biggest one being um Construction PMI in the UK we've got some unemployment numbers as well in Europe both the Spanish and the German they come out at 700 p.m. and 7:55 um Sydney time respectively 8:30 p.m. Sydney time really is the big one construction PMI um expected to come out 56.1 so have a little look around there previous was 55.3 so um certainly Cable's looking a little bit offered um not really in any decent levels for my own at the moment um but it might give you a decent trading opportunity lat later on the evening um you move in you've got Cad and for the Kiwi lovers out there the uh Global dairy prices come out once again there's no direct time for that but it will have an effect on the Kiwi kiwi's been uh not untradeable but certainly uh had its usual sort of ups and downs over the holiday period I've personally stayed away from it um but certainly we'll be looking for maybe a clue from this this might be the first bit of fundamental date we're getting out of New Zealand um for the next move in the Kiwi dollar so keep eye out for those things um but certainly I'm not looking to throw the kitchening sink at the market yet just get back in the sort of vibe have a feel of how the markets are doing obviously there's a little bit of uh movement after the Chinese stock markets the Nick eye keep an eye on the stock markets they still are dictating some of the moves in the currencies as well um but uh look for your levels get your charts drawn up and uh and I wouldn't go diving in with both feet just yet I think the liquidity is still coming back after the whole holiday season okay guys have a fantastic day uh good luck to you and uh and personally from me good luck in 2016 I've got a funny feelings be a much much better trading year than 2015 was certainly with some of the signs we've seen already cheers guys and uh speak soon any queries come straight to us in the Trading Zone thanks