Morning Ramble
Hi!
Here's your daily market update from PiQ Suite:
Top Stories
China car sales fall for fifth consecutive month
Passenger vehicle sales in China fell in August for the fifth consecutive month, industry data showed on Monday.
Sales were down 1.1% from the same month last year to 1.92 million vehicles, China Passenger Car Association data showed. Sales had fallen by 3.1% in July.
European shares rebound after worst weekly performance in over a year
European shares began the week on a positive note after the benchmark index saw its worst day in over a year on Friday, while investors await a slew of economic data and expect the European Central Bank to cut interest rates later in the week.
Oil prices jump on Gulf Coast storm, post selloff recovery
Oil futures jumped in Asian trading on Monday as a potential hurricane system approached the U.S. Gulf Coast, and as markets recovered from a selloff following weaker-than-expected U.S. jobs data on Friday.
Hedge funds flock to Japan as market heats up
Japan has emerged as a standout in Asia's subdued $400 billion hedge fund sector, drawing fund launches while other regions suffer closures in an indicator that wild volatility in August has not derailed a revival in Japanese capital markets.
Dollar steadies, yen slips as traders grapple with Fed rate-cut outlook
-The dollar recovered some lost ground on Monday while the yen pared its safe-haven gains, as investors who were undecided on the scale of a Federal Reserve rate cut expected later this month looked to this week's U.S. inflation data for more clues.
Tweet of the Day
Quote of the Day
“Your portfolio should be like a good cocktail - well-balanced and strong enough to get you through tough times.”
Anon
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That's all for today's digest. Happy trading!
The PiQ Suite Team