Observations + Charts
Europe & US futures are seeing mixed price action so far.
Asia ended lower weighted by new set of negative data in China, high $. Even Japan snap 8d of winning streak.
China exports and imports shrunk at a slower pace in August. New export orders contracting for a 6th straight month in August.
Chinese property names gave back some of the recent gains.
Japan cracking an 8 day winning streak to end lower. NKY making lower highs.
JPYUSD neared 10 month low and prompted Japan to step up verbal intervention.
EU Investors digesting some hawkish leaning ECB remarks ahead of next week's ECB meeting.
EU macro shows further weakness in German industrial prod after big drop in factory orders.
OECD also warns a wave of bankruptcies threatens EZ eco. singled out Spanish firms as particularly vulnerable..
European gas rebounding a bit after yesterday weakness on weather, storage and lower risk of strikes.
EU cyclicals -60bps, 2nd d of losses, with Basic Resources and Tech lagging the region.
Semis leading Tech to the downside so far on the back of the AAPL/China headline.. ASML weighting the most.
DXY is flat-to-up small. Brent is taking a small breather following the recent spike while copper -70bp. US nat gas flat and up 325bp in Europe. Bitcoin +30bp while gold +15bp.
US futures mixed so far w/ESU3 -10.00, HIWU3 +28.00, RTYU3 -1.50 and NQU3 -88.00.