Morning Update – 01/09/2016 – by Arjun Lakhanpal

Morning all..  Wall St closed quietly into month-end falling 0.24% and Asia was looking soft until stronger data from China saw a rebound in sentiment with the Nikkei closing up 0.22%. USDJPY holding recent gains helping support the Nikkei.. Markets clearly on hold waiting for US Unemployment data on Friday. China released manufacturing data for August, with the official purchasing managers’ index coming in at 50.4, versus 49.9 in July, the highest in 22 months and indicating a slight expansion in the economy. However, the Caixin China manufacturing purchasing managers’ index, a private gauge of nationwide factory activity, fell to 50.0 in August from 50.6 in July but still showed an expansion. This saw AUD rise but a rather muted move. Oil bounced after a few days of weakness with WTI up 0.5%. This saw USDCAD drift marginally lower in a very quiet FX session. This morning we get PMI data from across the EU and UK. So far a very quiet start to the month.. Good luck