Good morning! Here’s what you need to know:
The Euro Is At Its Lowest Against The Dollar Since 2012. The euro has now broken well below $US1.28, and with the ECB expected to keep easing while the Fed starts to consider a rate hike, we probably haven’t seen the last of this decline.
Commodity Prices Are Slumping, Too. A lot of commodities are hovering at a four-year low, and market-watcher Mark Dow provides one theory why that’s happening.
Lufthansa Pilots Are Threatening To Strike. The German airline’s pilots say talks over retirement rights have broken down, and they may follow Air France’s pilots and go on strike.
China Might Boot Its Central Bank Chief. There’s no end to the rumours that Zhou Xiaochuan may be replaced as the head of the People’s Bank of China.
Glaxo Just Appointed A New Chairman. GlaxoSmithKline has hired Philip Hampton, the chairman of Royal Bank of Scotland. He doesn’t take up the role until September next year.
The US Is Bombing ISIS Oil Fields. The strikes have now spread to ISIS’ attempts to refine and sell oil. The Netherlands is the latest country to join the fight against the group in Syria and northern Iraq.
The Nikkei Got A Big Boost. The Japanese index closed up 1.28% overnight, after some speculation that a new boss at the People’s Bank of China would mean more easing. European stocks were mixed Thursday morning, with the FTSE 100 down 0.18%, the CAC 40 up 0.22%, and the DAX up 0.32%.
Rosneft May Back Out Of A Deal With Morgan Stanley. The massive Russian crude oil producer may back out of an agreement to buy Morgan Stanley’s oil trading unit because sanctions now make it hard to finance.
Initial Jobless Numbers Are Out At 8:30 AM ET. Claims for the week of Sept. 19 will be released, while Markit’s services PMI is out at 8:45 a.m. The Kansas Fed’s manufacturing survey follows at 11 a.m.
Ukraine May Temporarily Close Border With Russia. Ukrainian President Petro Poroshenko says he’s considering closing the border with Russia to stem Moscow’s military intervention in his country.