1. The Financial Times writes that “China’s government has decided to abandon attempts to boost the stock market through large-scale share purchases, and will instead intensify efforts to find and punish those suspected of “destabilising the market”, according to senior officials”
I think this is actually very sensible: the Chinese should refocus their main efforts on economic reform. Make that transition from a manufacturing to a services economy successfully...
2. European inflation numbers come in a touch above hopes but still pretty weak...
...although in reality what they needed to also show was the sheer split of the underlying factors:
3. The more and more I look at the US Q2 GDP revision late last week the more odd it looks...
Certainly the Chicago PMI number was not that hot...
...and best not to even look at the Dallas one:
US Dallas Fed Manufacturing Activity (Aug) -15.8 (est. -3.8, prev. -4.6)
4. Oil - as Fast FT notes is still pushing up:
Monday's rally has taken Brent crude's gain to about 25 per cent over the past three days. US crude prices are up nearly 27 per cent in the same period.
5. Meanwhile via @PredictedMkts an interesting foreign exchange fact:
August's 1.5% rally in EUR/USD reverses July's fall. It is 21 months since EUR/USD last rallied for 2 months in a row #forex #trading #euro
Bit of a different end to August than much of the month's trends and directional shifts...looking forward to seeing the final August monthly 'scores on the doors' charts in due course.