Good Morning Traders! This Friday we get French HICP and Eurozone Trade Balance data.
Here is what to expect.
Sentiment
Amid a summer travel boom and in the wake of a stimulus drive, China's economic activity picked up in August, adding to cautious confidence that the worst of the crisis is over.
A day after announcing another reduction in lenders' reserve requirements to help a faltering economy, China's central bank injected cash into markets for the tenth straight month through a significant policy loan.
Oil was on track to increase for a third consecutive week as the market grew tighter as a result of Saudi Arabian and Russian production restraints.
The real estate market in China is in trouble. The skyrocketing real estate prices of recent decades have started to level off. The current risk is that falling property values will likewise negatively impact the world's second-largest economy.
According to the Financial Times, the US believes that Chinese Defence Minister Li Shangfu is being investigated and has been removed of his duties, a harbinger of probable future turmoil in President Xi Jinping's administration less than a year into his third term.
Docket
02:45 AM ET
French HICP YoY Final
Median Forecast 5.7% | Prior 5.7%
05:00 AM ET
Eurozone Trade Balance
Prior 13B
Speakers
02:45 AM ET
ECB's Villeroy Speaks
05:45 AM ET
ECB's Pres. Lagarde Speaks
Good Luck Today Traders!