The Traderszone Network

Currently 121.15 after being pulled lower to 120.73 on risk aversion/lower Nikkei
Offers 121.25-30 121.50 121.65 121.85 122.00 122.20 122.50
Bids  120.70-75 (stops below) 120.50 120.40 (stops below) 120.20 120.00 119.85 119.50

Currently 1.5660 with 1.5700 still providing res/offers helped by EURGBP demand. Sharp rally from 1.5630 shows demand in the dips
Offers  1.5685
1.5700
Bids 

As expected after Chinese/Asian market losses
– FTSE -2.6%
– DAX -3%, Below 10,000 for first time since Jan
– CAC40 -3.5%
– FTMIB -3.5%
– IBEX -3.3%
– Swiss SSMI -3.4%
China’s Shanghai Comp Index closes down -8.5%, biggest one-day % fall since Feb 2007

Chinese stocks dived more than 8 percent on Monday morning, with the Shanghai index giving up all its gains for the year on investor disappointment that Beijing held back expected policy support at the weekend after markets shed 11 percent last week. The Hang Seng index (.HSI) dropped 4.6 percent to 21,378.40 points, which analysts blamed both on weak onshore performance and to investors moving money out of yuan-denominated assets after a surprise devaluation in the Chinese currency earlier in August.

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It’s Monday, a new week and the world is yours to conquer
So what’s hot and what’s not ?
Global meltdown or much needed correction? Euro to stay wanted or are we near the tops ?

Squawk Box Live in Europe has all the market developments, with China’s Shanghai Composite plunging over 8 percent.

Concerns about China’s growth as the country’s stock selloff extended into Monday’s session led investor to buy the yen as a haven.
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