Asian stocks were firmly gaining traction yesterday and firmly into today, as Beijing announced some key measures to support Chinese stocks. Whilst there are still jitters about the underlying economic strength, many hope that this last minute summer rally could give a much needed boost to sluggish markets.
Multiple countries are set to release data later today that reveals how confident consumers are feeling about the state of the economy. Notably, the US will release their CB consumer confidence, as well as the figures provided by JOLTs job openings, which shows how many new jobs have been created. France and Germany are also set to release individual consumer confidence figures, alongside broader European figures.
Ongoing disputes with workers at two natural gas mines in Australia have reached a peak, as unions announced their intentions to commence the strike as soon as 7th September if agreements over pay and working conditions cannot be reached with operators Chevron. Natural gas prices have gone haywire on the back of the strike announcements and many fear that a fall in supply could lead to bidding wars and an escalation in prices.
Sources: Financial Times, IG, AJ Bell, Nasdaq, FX Empire, Wall Street Journal, Bloomberg