The First Look: Your 10-Second Guide To What Happened Overnight

CME Trader

The MSCI all-country world index has just hit a 2-year high.

ASIA: Soared, with even Japan taking part. Japan has criticised Korea for currency market intervention today, yet Singapore seems happy to step back from the currency war, at least momentarily, as they surprised the market and tightened monetary policy slightly. The nation’s central bank said it would guide its currency slightly higher, as it aims to fight inflation.

Meanwhile, China’s currency reserves have hit an all-time high, just giving yet another reason for Western politicians to howl.



EUROPE: Rising slightly. Eurozone industrial production has beaten expectations, rising 1% in August. German stocks have hit a 2010 high. However, Greece police are clashing with protestors near the Acropolis.



MACRO: Once again, everything is up except the dollar. The euro is above $1.40.



U.S. FUTURES: Are rising. Watch for U.S. international trade data, the producer price index, and jobless claims at 8:30 AM ET.


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