Asian Session

China reported an unexpected slump in exports (in July) and the biggest decline in producer-price index in almost 6 years. MSCI Asia Pacific Index declined around -0.4%.


However later in the session, the majority of emerging-market stocks surged as investors speculated that China will soon start putting additional pressure on stat-owned enterprises to accelerate mergers in order to boost economic growth. The Shanghai Composite Index jumped almost 5%.After signs that producers will keep adding oil to the global glut, oil prices extended 4-day decline and Russia's ruble fell toward a six-month low.The world's biggest natural gas  producer - Gazprom suffered -1.8% loss.

Marketsforu


Today dollar erases gains after reaching a four-month high post reading from the labour market on Friday. SEK and NOK remain under pressure after weak publications.


TRY remains steady despite terror attacks in Istanbul. US consulate building in Istanbul was attacked. Two attackers opened fire on the US diplomatic mission, fleeing when police shot back however Turkish police claims to detain female suspect. Lira stays steady in early morning trading. The second attack targeted a police station, and seven police officers are wounded.

 Some news about the Greek bailout arrived, Greece claims that the agreement may be produced as soon as tomorrow.