ASIA: Japan slumped, while China soared 3.7%. China had been closed for many days, thus it had to catch up with other markets in the region. Moody’s is considering upgrading the nation’s credit rating according to the Wall Street Journal. Also, China’s Wen Jiabao has come out and said that China won’t use its monopoly over rare earths production as a political bargaining chip.
Japan’s finance minister has reiterated that his nation will intervene in the currency markets when it wants to. The yen remains below 83 per U.S. dollar.
EUROPE: Is falling. The largest challenge for Europe right now is the euro, which is just shy of $1.40 and a growing concern for European export competitiveness. German August exports fell for the second month in a row, dropping 0.4%.
MACRO: The euro continues to brush up against $1.40. Gold has eased back slightly to $1,335.
U.S. FUTURES: Are falling. Watch for the U.S. employment situation report a 8:30 AM ET.
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