Good Morning Traders! It's the middle of the week now, with this Wednesday bringing us a very quiet EU session.
Here is what to be aware of.
Sentiment
Fitch Ratings, which criticised the US's soaring fiscal deficits and a "erosion of governance" that has often resulted in debt ceiling disputes over the past 20 years, stripped the US of its top-tier sovereign credit grade.
After Fitch Ratings stripped the US of its top-tier sovereign rating, US Treasuries increased, stimulating a moderate demand for haven assets, including, counterintuitively, debt issued by the largest economy in the world.
According to minutes from the June policy meeting, Bank of Japan board members engaged in contentious debates over the possibility of adjusting the yield curve control settings in a policy meeting a month before they actually made a change.
According to analysts cited in China Securities Journal on Wednesday, China would likely soon announce a flurry of actions to stabilise the economy, including increased financing provided by policy banks for infrastructure construction.
After an industry estimate indicated a significant decrease in US stockpiles, the price of oil started to rise again, adding to signs the market is tightening.
Docket
03:30 AM ET
Swiss Manufacturing PMI
Median Forecast 44 | Prior 44.9
Good Luck Today Traders!
