Apple reveals products, US updates CPI and ECB decides [Video]
|Last week ended on an ugly note, really, as the jobs data from the US revealed throughout the week was weak, but maybe not weak enough to tilt the Federal Reserve (Fed) expectations toward a clear direction. US yields fell and the equities fell, the USDJPY fell to the lowest levels since August meltdown.
And if it’s not enough, the data released in the earliest hours of this week pointed that the Japanese economy recovered slower-than-expected but that the price pressures remained higher than expected in Q2, and that inflation in China came in below estimates as well, not helping to relieve the growing tensions about China and its sputtering economy. The Nikkei index is down by more than 0.60% at the time of writing and China’s CSI 300 is down by more than 1%.
US crude fell 1.75% on the back of the mixed US jobs data on Friday, closed last week below the $70pb psychological level, copper futures remain below the 200-DMA. Good news is, US futures are in the positive, hinting that we could see a small rebound after last week’s heavy selloff as attention shifts to Apple’s product reveal, US CPI update and the European Central Bank (ECB) decision.
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