Forex – Commodities – Stocks: Headlines of September 1st

BinaryOptionsNow | Published on September 1, 2011 at 9:26 am

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  • US Equities extended their rebound on Wednesday, rising for a fourth consecutive session led by financials. This morning, Asian shares trade mixed.
  • The International Monetary Fund has estimated European banks could face a capital shortfall of €200 billion, a source said yesterday. According to the FT, the figure has prompted fierce response from European officials who said the analysis was misleading.
  • US President Barack Obama agreed yesterday to unveil new jobs proposals in an address to Congress on September 8, bowing to pressure from Republicans, who objected to original date set for his high-profile speech.
  • Germany’s cabinet approved yesterday draft legislation to widen the scope and volume of the euro zone’s rescue fund but indicated that approval of future bailouts will have to meet tougher conditions.
  • The Brazilian central bank surprised markets by slashing its key interest rate to 12% from 12.5% saying it reflects a mounting global slowdown as well as weaker growth in Latin America’s largest economy.
  • Domestic demand helped Chinese manufacturing growth post a marginal increase in August, despite a significant fall in export demand. The official manufacturing PMI index rose 0.2 points to 50.9 after falling for four consecutive months.

Today, the eco calendar contains the euro zone (final) and UK manufacturing PMI, the US manufacturing ISM and US weekly jobless claims. Spain and France will tap the market.

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Source: KBC

 

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