Photo: MShades via Flickr
ASIA: Hong Kong lead Asian gains, mainland China fell. Thailand, South Korea, and Singapore are suspected to have intervened in the currency markets today, weakening the U.S. dollar against their respective currencies.Chinese manufacturing activity expanded in September, according to HSBC’s China PMI, which rose to 52.9 in September, from 51.9 in August. This continues a growth trend from the 49.4 level hit in July.
Japan’s business sentiment rose in September based on the central bank’s Tankan survey, a cautious outlook from companies could mean that Japanese monetary easing is now more likely. On the political front, Japan is pushing China to reach some kind of resolution in regards to its own nationals who were recently arrested in China for allegedly trying to video tape military facilities.
EUROPE: Falling so far. The Irish government announced that it will inject 5 billion euros into the troubled bank Anglo Irish. In Spain, Moody’s is most likely about to cut the country’s Aaa credit rating according to money managers. Spanish unions are also engaging in their first general strike in 8 years, against government spending cuts. Also, thousands of anti-austerity protesters have hit Brussels today and the crowd is expected to reach 100,000 people.
MACRO: The euro is a touch below $1.36. The dollar index fell, note the likely currency intervention from Asia. Gold is at $1,311.
U.S. FUTURES: Slipping slightly. Watch for EIA petroleum data at 10:30 AM ET.