Themes To Watch – Upcoming Session Recommended by Finexo.com

Key Risk Events (All times in GMT)

• Sweden Aug. Industrial Production and Orders (0730)
• UK Sep. BRC Shop Price Index (0930)
• Germany Aug. Industrial Production (1000)
• US Fed's Plosser to Speak (1145)
• Canada Sep. Housing Starts (1215)
• US Aug. Pending Home Sales (1400)
• US Weekly Crude Oil and Product Inventories (1435)
• Japan Aug. Machine Orders (2350)
• Australia Sep. Unemployment Rate (0030)

Finexo Market Analysis

• UK getting ready to put tax payers' money into banks (aka nationalization), according to Chancellor of the Exchequer, Alistair Darling.
  
  
• US Fed/Treasury considering to get into the unsecured lending market (i.e.commercial paper). This has never happened in the history of the Fed and the legal basis and ramifications are unclear.
  
  
• The RBA cut interest rates to 6.00% (i.e. -100 bps.). The expectation was 6.50%. ASX200 saw some support after the move (only stock index, which ended higher yesterday). AUD plummeting.
  
  
• Iceland's Prime Minister says that it cannot be ruled out that they will go bankrupt.
  
  
• Commodities are plummeting. Several of them were limit down in Shanghai trading. Only exception is precious metals, which are still holding the ground.
  
  
• DOW dropped to (and closed) below 10,000 for the first time since 2004.