The Traderszone Network

Oil supply is the big weight on oil prices, and Iran’s return to the market is one of the most difficult supply sources to forecast, a survey finds.

Minutes of the RBA August monetary policy Board meeting
– Economy adjusting to shift in activity in the resources sector, lower AUD assisting
– Economic activity had generally been more positive over recent months
Quick headlines via Reuters

Australia – New Motor Vehicle Sales for July
For the y/y, +3.7%
– prior was +4.0%
I’ll fill in the blanks in a monment

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Shanghai Composite set to open up 0.1%
– CSI300 set to open +0.2%

Offshore Yuan continues to trade at a discount to onshore against the USD (imply a modest further devaluation is due) but the spread is narrowing and today’s practically unch Yuan fix is dragging USDCNH lower (stronger Yuan). Yesterday’s afternoon session ramp in stocks managed to extend its gains as margin debt rises for the 7th straight day.

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I’ve posted up a couple of previews of the RBA Minutes due today already:
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More, this time from RBS (bolding mine):
– The Reserve Bank of Australia (RBA) …. August decision … left rates unchanged but altered its language on the currency

USD/CNY mid-point reference rate
– Yesterday’s mid point reference rate was set at 6.3969
– Yesterday’s close for USD/CNY was 6.3947
after a relatively subdued trading session           
PBOC to inject 120bn yuan via 7-day reverse repos today … quite a big one, a substantial easing in conditions