- Euro inflation reaches new height to 10-year level in August with chances of further increasing:
Accumulated inflation in 19 countries surged to 3% which is way above the target label of 2% and is mainly accounted to energy prices. It is also likely that excessive money printing is fueling inflation as well. EU’s biggest member Germany’s 10-year yield ticked up to -0.38.
- Asian markets show sign of worry and trading on the bear side as sluggish global growth looms over the region:
Investors are pricing in rising delta cases globally slowing down global economic growth. The dollar inched down to three weeks low and MSCI Asia Ex- Japan fell 0.40%.
- Oil prices finds ground ahead of OPEC+ meeting:
Investors are closely watching the meeting as members are to decide on supply increase as COVID soars and casualties caused by Hurricane Ida.
- The market closely waits for U.S. payroll data come out on Friday as it being one of the key indicators for FED tapering
Investors predict if payroll numbers turn out not as expected could turn risk mode on. Market sentiment is reflected on the VIX index inching up by 1.79%
- Local market indicator: Thai manufacturing PMI by 0.4 points to 48.3 in August and COVID cased dropped below 15,000 for second day further paving path towards economic reopening