The United States saw losses on the expectation of weak data coming from the Chinese PMI announcement. On Wall Street stocks fell last night with the tech heavy Nasdaq losing 1.50%, the Dow Jones down 1.09% and the S&P finished 1.23% lower.
Dollar YEN is currently around 120.12 and is flat on the day. EUR/USD is also flat on the day trading in the region of 1.1238. The Aussie Dollar, which is seen as a liquid proxy for China fell 0.9% earlier this morning to 0.7026, it is currently trading around 0.70433.
Overnight Asian markets Chinese PMI data shrank to a new 6 ½ year low of 47.0, the worst reading since March 2009 and its 7th straight month of declines. The Shanghai Composite Index was down 1.84% whilst the Hang Seng index lost 3.24%. The Japanese Nikkei fell 1.96%.
Oil today was punished by the PMI figures. West Texas Intermediate crude is at $46.18 per barrel, down on the day 18 cents. Brent Crude is trading around $48.82 barrel down 26 cents. Benchmark copper closed down 3.6%, the largest loss in one day since July 7th.
Today at 1:30 UK time Canada is announcing its Core retail sales. At 2pm ECB President Draghi is due to testify on monetary policy. At 3:30 the US crude oil inventory results are given. At 5:30 FOMC member Lockhart is speaking and at 11:45 this evening the New Zealand trade balance is declared.
The United States saw losses on the expectation of weak data coming from the Chinese PMI announcement. On Wall Street stocks fell last night with the tech heavy Nasdaq losing 1.50%, the Dow Jones down 1.09% and the S&P finished 1.23% lower.
Dollar YEN is currently around 120.12 and is flat on the day. EUR/USD is also flat on the day trading in the region of 1.1238. The Aussie Dollar, which is seen as a liquid proxy for China fell 0.9% earlier this morning to 0.7026, it is currently trading around 0.70433.
Overnight Asian markets Chinese PMI data shrank to a new 6 ½ year low of 47.0, the worst reading since March 2009 and its 7th straight month of declines. The Shanghai Composite Index was down 1.84% whilst the Hang Seng index lost 3.24%. The Japanese Nikkei fell 1.96%.
Oil today was punished by the PMI figures. West Texas Intermediate crude is at $46.18 per barrel, down on the day 18 cents. Brent Crude is trading around $48.82 barrel down 26 cents. Benchmark copper closed down 3.6%, the largest loss in one day since July 7th.
Today at 1:30 UK time Canada is announcing its Core retail sales. At 2pm ECB President Draghi is due to testify on monetary policy. At 3:30 the US crude oil inventory results are given. At 5:30 FOMC member Lockhart is speaking and at 11:45 this evening the New Zealand trade balance is declared.
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