Morning Markets: ECB steals the limelight from Fed and BoJ
- European Central Bank Announcement & Press Conference (1145 GMT & 1230 GMT)
- US: Initial Jobless Claims (1230 GMT)
- US: Bloomberg Consumer Comfort Index (1345 GMT)
- Asian markets opened mixed ahead of China data
- The ASX was off 1% early, the Nikkei down 0.18%, while the Kospi was up 0.41%
- Chinese imports unexpectedly rose in August for the first time in nearly two years
- Australia's trade gap narrowed more than expected due to volatile gold exports
- It remains in the red with a deficit of $A2.4bn in July; $A2.7bn was expected
- Japan’s current account rose to a seasonally adjusted ¥1.45T
- Its quarter-on-quarter growth was revised higher to 0.2% in the three months to June 30
- The US dollar was fetching 101.78 yen in early Asian trade
- The AUD continues to fall against the NZD. In early trade it was fetching $NZ1.0289
From the Floor
Launch squib. ”What Apple came out with yesterday is not going to change the short to mid-term,” says Garnry.
Oil fillip. “China import data hit a four-month high to send oil markets higher,” says Hansen.
Get all the latest from Saxo Bank's trading floors in From the Floor, within the hour.
What can the ECB do when the economic indicators show little but slowing growth? It can do nothing, says James Picerno.
It didn't seem to matter that leads from overseas were buoyant – the ASX went on its own slide for no particular good reason, says Saxo Capital Markets in Sydney.
Waiting for the ECB
Stocks are flat ahead of the rates decision on Thursday, with markets pricing in only a 10.6% probability of a cut, writes the Saxo APAC Sales Trading team.
Morning Markets goes out on the TradingFloor platform at 0700 GMT, Monday to Friday.
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