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☆ Asian shares drop as investors brace for central bank-packed week
▼ + stars: | 2023-09-18 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

U.S. West Texas Intermediate crude futures gained 0.8% to $91.52, their highest level since November, while Brent crude futures rose 0.7% to $94.55 per barrel. In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.7%. This week, global central banks will take centre stage, with five of those overseeing the 10 most heavily traded currencies holding rate-setting meetings. Last Friday, Wall Street ended sharply lower as U.S. industrial labour action weighed on auto shares. The euro gained 0.1% to $1.0667, after slumping to a 3-1/2 month low of $1.0632 last week as the European Central Bank signalled its rate hikes could be over.

Persons: BOE, BOJ, Taiwan's TSMC, Hong, Tommy Xie, Chris Weston, Weston, Kazuo Ueda, Cash Treasuries, Stella Qiu, Shri Navaratnam, Edwina Gibbs Organizations: Federal Reserve, Bank of Japan, Nasdaq, . West Texas, Brent, Japan's Nikkei, Technology, Reuters, Trust, Greater, Greater China Research, OCBC Bank, China Evergrande, Fed, U.S ., Bank of England, Treasury, Amazon, European Central Bank, Thomson Locations: China, SYDNEY, Europe, Asia, Pacific, Japan, Zhongrong, Greater China, HK, Pepperstone, Tokyo

☆ Asian shares stumble as investors brace for central bank packed week
▼ + stars: | 2023-09-18 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

S&P 500 futures advanced 0.2% while Nasdaq futures edged 0.1% higher. Also, Chinese trust firm Zhongrong International Trust Co, with exposure to Chinese property developers, said over the weekend it was unable to make payments on some trust products on time. The euro recovered 0.1% to $1.0673 in early Asia trade, after slumping to a 3-1/2 month low of $1.0629 last week as the European Central Bank signalled its rate hikes could be over. Brent crude futures rose 0.3% at $94.20 per barrel and U.S. West Texas Intermediate crude futures were up 0.4% at $91.14. Reporting by Stella Qiu; Editing by Lincoln Feast and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: BOE, BOJ, Tommy Xie, Jerome Powell, Chris Weston, Weston, Kazuo Ueda, Cash Treasuries, Stella Qiu, Lincoln Organizations: SYDNEY, Federal Reserve, Bank of Japan, Nasdaq, Japan's Nikkei, China Evergrande, HK, International Trust Co, Greater, Greater China Research, OCBC Bank, U.S . Federal, Fed, U.S ., Bank of England, Treasury, Amazon, European Central Bank, Brent, . West Texas, Thomson Locations: China, Asia, Pacific, Japan, Hong Kong, Beijing, Greater China, Tokyo

☆ Gold steadies as investors brace for key cenbank verdicts
▼ + stars: | 2023-09-18 | by ( Brijesh Patel | ) www.reuters.com time to read: +2 min

Spot gold was flat at $1,923.40 per ounce by 09:59 a.m. EDT (1359 GMT). Non-yielding gold tends to fall out of favour among investors when interest rates rise. [USD/Chinese gold prices hit record highs last week, extending a months-long rally as consumers snap up the safe-haven asset to offset a depreciating yuan. "While the developments in China are worth watching, we currently do not believe that this will change the outlook for the gold market," said Julius Baer analyst Carsten Menke. Reporting by Brijesh Patel and Anjana Anil in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Edward Moya, CME's, Kazuo Ueda, Julius Baer, Carsten Menke, Brijesh Patel, Anjana Anil, Krishna Chandra Organizations: Wednesday, U.S . Federal Reserve, The Bank of, U.S, Treasury, Thomson Locations: requisitions, The Bank of England, China, Bengaluru

☆ Cramer's week ahead: Pay attention to the Federal Reserve's meeting
▼ + stars: | 2023-09-15 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Friday gave investors tips for what to focus on during the coming week, highlighting the Federal Reserve's Wednesday decision on interest rate hikes for the rest of the year. Grocery-delivery company Instacart may also release initial public offering pricing Monday night, Cramer said, and Tuesday will bring an earnings report from AutoZone. "When there's a Fed meeting coming up in less than a week and nobody seems worried about it, maybe you want to brace yourself for a little turbulence," he said. On Thursday, Cramer will be looking at Olive Garden owner Darden 's earnings report, which may provide some clarity on whether consumers are spending money dining out. And Friday will mark a week since the United Auto Workers union went on strike against the country's primary automakers.

Persons: CNBC's Jim Cramer, We've, there's, Jay Powell, Cramer, Jerome Powell, I'm, Powell, General Mills, Darden, Shawn Fain Organizations: Disney, ESPN, ABC, Nexstar, AutoZone, FedEx, KB, Fed, Olive Garden, United Auto Workers Locations: Orlando , Florida, General

☆ Instant View: US retail sales, produces prices rise; jobless claims lower than forecast
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +5 min

U.S. retail sales also climbed 0.6% last month, against estimates of a 0.2% rise, while initial jobless claims for the latest week fell to 220.000. "We've been waiting to see exactly which of these inflation data trends would kind of knock the market off its axis. "It's likely that while the Federal Reserve won't love the August inflation data, it also is soft enough that they likely won't react to it either. ROBERT PAVLIK, SENIOR PORTFOLIO MANAGER, DAKOTA WEALTH, CONNECTICUT"Most of the rise in prices is coming from energy. "I still believe we have seen the last of the rate hikes, but there is a possibility small that November still has the potential to bring another rate hike.

Persons: Robert Graham, King, King of Prussia, Mark Makela, SAMEER SAMANA, WELLS, We've, haven't, GREG BASSUK, PETER ANDERSEN, ANDERSEN, ROBERT PAVLIK, BRIAN JACOBSEN, MENOMONEE Organizations: REUTERS, Federal Reserve, Reuters, CHARLOTTE, Federal, Global Finance, Markets, Thomson Locations: Prussia, United States, King, King of Prussia , Pennsylvania, U.S, WELLS FARGO, NORTH CAROLINA, BOSTON, DAKOTA, CONNECTICUT, WISCONSIN

☆ Devastation in Derna
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +7 min

Swathes of Derna, a city of 125,000 residents, were obliterated by the flood on Sunday night, bringing down multi-storey buildings while families were asleep. Map showing the footprint of buildings in Derna, highlighting those which appear to be completely washed away. Drone shots of Derna, Libya. REUTERS Drone shots of Derna, Libya. A view shows the damaged cars, after a powerful storm and heavy rainfall hit Libya, in Derna, Libya.

Persons: Abdulmenam, Ghaithi, Hichem Abu Chkiouat, Mustafa Salem, “, hydrologist, Omar Al, Mukhtar, Storm Daniel, ”, Suzanne Gray, Muammar Gaddafi, Omran Organizations: Planet Labs PBC, Reuters, REUTERS, Plant Labs, Mukhtar University, Britain's University of Reading, Al, National Meteorological Centre, NATO, of National Unity, Fetori Locations: Libya, Derna, Greece, Tripoli

☆ EU to investigate 'flood' of Chinese electric cars, weighing tariffs
▼ + stars: | 2023-09-13 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +6 min

"Global markets are now flooded with cheaper electric cars. It is also unusual in that it is brought by the European Commission itself, rather than in response to an industry complaint. GRINDING GEARSThe influx of cheaper Chinese electric vehicles has already prompted some European carmakers to take action. At the same time Von der Leyen stressed the importance of electric vehicles to the EU's ambitious environmental objectives. The founder of Nio warned in April that Chinese EV makers should brace for the possibility that foreign governments would impose protectionist policies.

Persons: Ursula von der Leyen, BYD, EVs, Nio, Mercedes Benz, Stellantis, France's, Tesla, VDA, Von der Leyen, Simone Tagliapietra, Kingsmill Bond, Foo Yun Chee, Philip Blenkinsop, Kim Miyoung, Brenda Goh, Anne Marie Roantree, Nick Carey, Kate Abnett, Gabriela Baczynska, Louise Heavens Organizations: EU, Investigation, European EV, European Commission, European Union, Renault, BMW, HK, China Passenger Car Association, Dynamics, Volvo, EV, VW, France's Renault, Japan, Rocky Mountain Institute, Thomson Locations: BRUSSELS, Brussels, China, Moscow, Ukraine, Germany, France, Europe, U.S

☆ Should We Really Be Texting for Work?
▼ + stars: | 2023-09-12 | by ( Callie Holtermann | More About Callie Holtermann | ) www.nytimes.com time to read: +1 min

Jake Dunlap texts his wife. Mr. Dunlap, 43, the chief executive of a consulting company in Austin, Texas, has asked colleagues not to overdo it on the work texts. But he is concerned that each buzz erodes the digital boundary between work and everything else. Brace your thumbs for the era of the work text: The blue bubble has put on its best business-casual and joined email and Slack in the sprawling digital workplace. Fans of the work text consider it productive, even collegial; to detractors, it’s outright invasive.

Persons: Jake Dunlap, . Dunlap, ”, Brace, Slack Locations: Austin , Texas

☆ Gas markets are becoming 'extremely difficult' to predict. It's a big problem for Europe this winter
▼ + stars: | 2023-09-12 | by ( Sam Meredith | ) www.cnbc.com time to read: +5 min

Aerial view of the LNG storage and vaporization vessel "Höegh Esperanza" at the Wilhelmshaven LNG terminal. European gas markets have been constantly fluctuating in recent months, owing to extreme heat, maintenance at gas plants and, most recently, industrial action at major liquefied natural gas (LNG) facilities in Australia. "Gas markets are becoming riskier — gas and LNG prices are increasingly volatile and greatly affected by global factors," Jaller-Makarewicz said. The EU reached its target of filling gas storage facilities to a 90% capacity roughly 2 1/2 months ahead of its Nov. 1 deadline. It means that we've got a pretty good buffer," Malek said, referring to Europe's filling of its gas storage facilities.

Persons: Ana Maria Jaller, seesaw, Makarewicz, Christyan Malek, Malek, CNBC's, we've, Filippo Monteforte Organizations: Getty Images Energy, Workers, LNG, Makarewicz Energy, Institute for Energy Economics, Gas, EU, Gas Infrastructure, International Energy Agency, European Union, Eurasia Group, JPMorgan, Afp, Getty Locations: Wilhelmshaven, Australia, Western Australia, Japan, China, South Korea, Asia, Europe, U.S, skyrocketing, Gas Infrastructure Europe, wean, Ukraine, Eurasia, Tuscany

☆ Podcast: Deadly floods rip through Libyan city of Derna
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +1 min

Thousands are feared dead after devastating floods in Libya. North Korea’s leader arrives in Russia with Washington warning Kim Jong Un and Putin against an arms deal. Apple prepares to unveil its latest iPhone as problems brew for the company in China. Plus, auto workers brace for strike action in Detroit and Morocco’s desperate search for survivors. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices.

Persons: Kim Jong Un, Putin, Kim Jong Organizations: Apple, Google, Reuters, Thomson Locations: Libya, North, Russia, Washington, China, Detroit, Korea, Morocco

Giant cranes are seen at the Hanjin Shipping container terminal at Incheon New Port in Incheon, South Korea, September 7, 2016. REUTERS/Kim Hong-Ji Acquire Licensing RightsSept 13 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The real fireworks will come after Asian markets close, with the release of U.S. CPI for August. Annual core inflation is expected to ease to 4.3% from 4.7%, but headline inflation is predicted to rise to 3.6% from 3.2%. Year-on-year oil prices are now turning positive for the first time this year, something investors and policymakers could do without.

Persons: Kim Hong, Jamie McGeever, Brent, Kazuo Ueda, Josie Kao Organizations: Hanjin Shipping, Incheon New, REUTERS, U.S, CPI, Bank of Japan, Nikkei, Bank of America's, Thomson, Reuters Locations: Incheon, Incheon New Port, South Korea, Japan, China, Korea

General view of flood water covering the area as a powerful storm and heavy rainfall hit Al-Mukhaili, Libya September 11, 2023, in this handout picture. As the storm moved along the North African coast, Egypt's authorities sought to calm its worried citizens by telling them Daniel had finally lost its strength. For Greece, the storm that formed on Sept. 4 followed a period of blazing heat and wildfires. Before Storm Daniel struck, hydrologist Abdelwanees A. R. Ashoor of Libya's Omar Al-Mukhtar University had warned that repeated flooding of the wadi posed a threat to Derna. Yet even better-resourced Greece struggled to deal with the power of Storm Daniel.

Persons: Daniel, Storm Daniel, Suzanne Gray, Christos Zerefos, Leslie Mabon, hydrologist, Omar Al, Mukhtar University, Edmund Blair, Mark Heinrich Our Organizations: REUTERS Acquire, Ahram, Britain's University of Reading, International Federation of, Red Crescent Societies, Academy of Athens, The Open University, Homes, Thomson Locations: Mukhaili, Libya, Handout, Greece, Derna, ATHENS, LONDON, Thessaly, Britain

An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. REUTERS/Aly Song/File Photo Acquire Licensing RightsSept 11 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. According to Goldman Sachs's real-time indexes, financial conditions in China, emerging markets and globally are now the tightest since last November. The economic data spotlight this week will shine on China. Money supply, loan growth, social financing (a broad measure of credit and liquidity in the economy), retail sales, industrial production, unemployment, house prices and fixed asset investment are all due for release by September 15.

Persons: Aly, Jamie McGeever, Goldman Sachs's, Diane Craft Organizations: REUTERS, U.S, Nasdaq, Thomson, Reuters Locations: Shanghai, Shenzhen, China, India, Beijing, Asia, Japan, Philippine, Indonesia, Malaysia

☆ Donaldson shines as Australia down Georgia to snap losing streak
▼ + stars: | 2023-09-09 | by ( Nick Mulvenney | Thomson Reuters | Leads Coverage Of Sport Across The Asia-Pacific. Still Reports On The Full Panoply Of Sport. Many Olympics World Cups World Championships Grand Slams Grands Prix | ) www.reuters.com time to read: +3 min

Donaldson, a surprise selection brought into the side primarily for his place-kicking, added 15 points from the tee with three penalties and three conversions. "There is a real feeling this team could do something," Eddie Jones said after the first victory of his second reign as Australia coach. "We've got a young team, it's a great learning experience for them. Georgia never looked like adding another top tier victim to their tally after wins over Italy and Wales in the last 13 months but battled to the bitter end and scored tries through Luka Ivanishvili and Beka Gigashvili. Australia head south for their second Pool C match in St Etienne on Sunday against a dangerous Fiji side who recently beat England.

Persons: Australia's Ben Donaldson, Livewire, Mark Nawaqanitawase, Jordan Petaia, Donaldson, Eddie Jones, We've, it's, Luka, Nawaqanitawase, Mirian Modebadze, flyhalf Luka Matkava, Davit Niniashvili, Taniela Tupou, flyhalf Carter Gordon, Akaki Tabutsadze, Gigashvili, Levan Maisashvili, Nick Mulvenney, Hugh Lawson, Ed Osmond Organizations: Georgia, Wallabies, Stade de France, Luka Ivanishvili, Blacks, Australia, Petaia, Georgians, flyhalf, Australians, Portugal, Sunday, England, Thomson Locations: Australia, Georgia, Italy, Wales, St Etienne, Fiji

Elsewhere in Asian FX markets, China's yuan slid to a 10-month low on Wednesday through 7.32 per dollar and is a whisker from plumbing depths not recorded since late 2007. Investors could get further reminders on the currency's vulnerability from Chinese trade and FX reserves figures on Thursday. Chinese trade has been one of the biggest economic red flags this year. Beijing's nominal FX reserves have risen this year, even as the nominal value of Beijing's holdings of U.S. Treasuries has fallen to a 14-year low. Here are key developments that could provide more direction to markets on Thursday:- China trade (August)- Malaysia interest rate decision- Australia trade (August)By Jamie McGeever; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Jamie McGeever, Treasuries, Josie Kao Organizations: REUTERS, FX, Asian FX, Reuters, Thomson Locations: Shanghai, China, India, Japan, Asian, Beijing, U.S, Malaysia, Australia

☆ 'We are ready to engage': Europe's biggest carmakers brace for China's EV challenge
▼ + stars: | 2023-09-04 | by ( Elliot Smith | ) www.cnbc.com time to read: +5 min

BMW CEO Oliver Zipse speaks during the presentation of the new BMW "New Class" during an event ahead of the IAA motor show in Munich. Europe's dominant position in the automotive sector was established over many decades through its capacity to build superior combustion engines. The German behemoth has already created automotive software company CARIAD, as well as partnering with Chinese EV startup Xpeng, joint venture partner SAIC and autonomous driving company Horizon Robotics. watch nowHe added that Volkswagen has established "huge cost initiatives" and sees big opportunities to scale up its EV production while reducing battery production costs by 50%. Our electricity costs compared to China or North America are too high," Skoda CEO Klaus Zellmer told CNBC on Monday.

Persons: Oliver Zipse, Christophe Périllat, Luca De Meo, Ampere, De Meo, CNBC's Annette Weisbach, Oliver Blume, " Blume, Blume, Klaus Zellmer, Joe Biden's, BEV, Zellmer Organizations: BMW, IAA, Getty, CNBC, Volkswagen, Renault, IAA Mobility, SAIC, Horizon Robotics, Volkswagen Group, CRU Group, Skoda Locations: Munich, China, Europe, North America, U.S, Canada, Spain, Germany

☆ What’s Next for Hurricane Season
▼ + stars: | 2023-09-04 | by ( Judson Jones | More About Judson Jones | ) www.nytimes.com time to read: +1 min

In a typical Atlantic Ocean hurricane season, August is the ramp-up to September’s peak. This season came to life almost overnight in mid-August, producing a record four named storms in less than 48 hours. This season’s third hurricane, Idalia, formed on Aug. 29, 10 days earlier than average. It struck the southeastern U.S. last week as a Category 3 hurricane and caused a dangerous storm surge, wind damage and flooding. Only eight other hurricane seasons in more than 100 years of record-keeping have matched that pace, according to Phil Klotzbach, a hurricane expert at Colorado State University.

Persons: Idalia, Phil Klotzbach, Hurricane Katrina, Ida, Eric Blake, ” Organizations: Colorado State University, They, Hurricane, National Hurricane Center

☆ Kevin O'Leary warns of economic chaos, with the Fed's aggressive rate hikes set to crush small businesses
▼ + stars: | 2023-09-04 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Kevin O'Leary once again warned that the Federal Reserve's sharp interest-rate hikes could cause economic chaos. The “Shark Tank” investor is worried about the impact that tightening campaign could have on small businesses. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. You can't say that about small business anymore," he added. "But 60% of America is small business.

Persons: Kevin O'Leary, " O'Leary, O'Leary, Biden, We've, Fox Organizations: Service, Fox Business, Canada's Conservative Party Locations: Wall, Silicon, America, That's

☆ Climate Change Is Killing the Sun-Seeking Summer Vacation - The New York Times
▼ + stars: | 2023-09-03 | by ( Henry Wismayer | ) www.nytimes.com time to read: +2 min

As a general rule, the response of tourists to upheaval is a barometer of a destination’s perceived stability. The future of the climate crisis portends the far grimmer prospect of disruption without end. Placed alongside the more mortal implications of catastrophic shifts in our climate, the upending of vacation plans might seem trivial. However, it reveals something about climate change’s totalizing potential and the extent to which persistently violent and volatile weather might compromise our quality of life. But in every case, it will become harder to see our best-laid plans through to fruition, and that threatens the foundations of hope.

Persons: ”, John Urry Locations: “

Thousands of attendees of the Burning Man festival in the Nevada desert faced the prospect of more rain on Sunday after a stretch of heavy precipitation that has tested the resolve of its free-spirited participants as most have been stuck at the site and forced to conserve food and water. The police on Sunday were investigating the death of one person at the event, although it was unclear what the cause was. The Pershing County Sheriff’s Office said in a statement that the family of the victim had been notified, but that no further information was available. Burning Man, a weeklong festival that has been around since the 1980s, is a self-described “community and global cultural movement” that is premised on countercultural principles, such as radical self-expression. It features art installations and culminates with the burning of a giant sculpture of a man, giving it its name.

Organizations: Sunday, Sheriff’s, Black Rock City Locations: Pershing, Black Rock, Nevada, ”

☆ Stocks will try to keep momentum, but September seasonality and other headwinds await
▼ + stars: | 2023-09-01 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Stocks are looking to maintain momentum in the holiday-shortened week ahead even as Wall Street contends with a seasonally weak period for markets ahead of the Federal Reserve's September rate decision. Some technical indicators have investors hopeful the bullish momentum could continue in the week ahead. For example, the major indexes broke above their respective 50-day moving averages this past week — a sign of improving short-term momentum. Central bank policymakers convene for a two-day meeting starting Sept. 19 and announce their interest rate decision Sept. 20. Week ahead calendar All times are ET.

Persons: Sam Stovall, We've, Ryan Detrick, Quincy Krosby, CFRA, —, HSBC's Max Kettner, Savita Subramanian, John Luke Tyner, Carson Group's Detrick, Detrick, FactSet, Kroger Organizations: Dow Jones Industrial, Nasdaq, Wall, Dow, Carson Group, Fed, LPL, Bank of America, Aptus Capital Advisors, Labor, PMI, PMI Services, Consumer Credit Locations: U.S, CFRA, China

A vehicle drives on a flooded road after the arrival of Hurricane Idalia, in Cedar Key, Florida, U.S., August 30, 2023. Hurricane Idalia plowed into Florida's Gulf Coast with fierce winds, torrential rains and pounding surf before weakening but turning its fury on southeastern Georgia, where floodwaters trapped some residents in their homes. At about $10 billion, Idalia would cost insurers less than 10 of the costliest hurricanes to hit the United States. Higher reinsurance rates can affect the premiums that insurers charge their customers. FLORIDA PAINFlorida has a large number of very small, thinly capitalized insurers, insurance experts have said.

Persons: Hurricane Idalia, Julio Cesar Chavez, Thomas Hayes, Gallagher Re, Michael Peltier, Berkshire Hathaway, Ajit Jain, Noor Zainab Hussain, Manya, Chibuike Oguh, Jon Stempel, Devika Syamnath, Megan Davies, Cynthia Osterman Organizations: REUTERS, Hurricane, UBS, Global, Great, Great Hill Capital, Farmers Insurance, Bankers Insurance, Lexington Insurance, AIG, Farmers, Florida Office, Insurance, Bankers, Property Insurance Corp, Property Insurance, Berkshire, Manya Saini, Thomson Locations: Cedar Key , Florida, U.S, Florida, Coast, Georgia, United States, Ukraine, California, Great Hill, New York, FLORIDA, USA, Lexington, Berkshire, Bengaluru, Chibuike

☆ Asia markets set for mixed open ahead of China's factory activity data
▼ + stars: | 2023-08-31 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

CFOTO | Future Publishing | Getty ImagesAsia-Pacific markets are set for a mixed open as investors brace for China's August factory activity data. Economists polled are expecting the purchasing managers index to come in at 49.4, representing a softer rate of contraction compared with June's 49.3. Futures for Hong Kong's Hang Seng index stood at 18,544, pointing to a stronger open compared with the HSI's close of 18,482.86. Japan will release its retail sales data, as well as its preliminary industrial output figures for July on Thursday. However, futures for the Australian S&P/ASX 200 point to a lower open, at 7,263 compared with the last close of 7,297.7.

Organizations: Getty, China's, Nikkei Locations: South Korea, Chongqing, China, Asia, Pacific, Chicago, Osaka, Japan

☆ Morning Bid: Markets brace for EU, US inflation data blitz
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +3 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 30, 2023. REUTERS/Staff/File Photo Acquire Licensing RightsA look at the day ahead in European and global markets from Brigid RileyA slew of economic data is set to roll out on Thursday, including preliminary euro zone CPI numbers and U.S. personal consumption data, with markets hankering for further inflation relief as central bank policy meetings march closer into view. The pan-European STOXX 600 index (.STOXX) closed lower and the euro jumped in the aftermath of the data, with markets now bracing for the last day of a gloomy August. Expectations are still hovering around a 50-50 chance of another ECB hike, with the focus on preliminary euro zone CPI data due later in the day. Meanwhile, Chinese stocks were looking glum again in the Asian morning after an official factory survey showed manufacturing activity slowed for a fifth month straight.

Persons: Brigid Riley, Collins, Lululemon, Pernod Richard, Edmund Klamann Organizations: REUTERS, Staff, European Central Bank, Reuters Graphics, Federal Reserve, UBS, Credit Suisse, Credit Suisse AG, PCE, Dollar, Corp, Broadcom Inc, Thomson Locations: Frankfurt, Germany, Spain, France, U.S, Italy, Switzerland, Central

Retail pasta prices rose about 12% this year in Europe and 8% in the United States, according to market research firm Nielsen. CANADA DRYWhen the Prairies turned dry this summer, Canadian farmer Darold Niwa saw hopes of a bumper durum harvest dashed. Durum, the hardest wheat, produces pasta with the prized "al dente" firm texture, unlike soft wheat. In the meantime, Vincenzo Martinelli, president of the durum section of Italian millers association Italmopa, nervously awaits the outcome of the Canadian harvest. "Without Canada, prices will only go up," he said.

Persons: De, Continental Noodles, Vincent Liberatore, Liberatore, Darold Niwa, Jerry Klassen, Philip Werle, There's, Severine, Maisons, Vincenzo Martinelli, Gus Trompiz, Rod Nickel, Emilio Parodi, Ceyda, Julie Ingwersen, Michael Hogan, Caroline Stauffer, David Gregorio Our Organizations: Foods, Nielsen, Grains, CANADA, Prairies, Statistics, Traders, Northstar, European Union, Thomson Locations: Fara San Martino, Italy, PARIS, WINNIPEG , Manitoba, Canada, Turkey, Toronto, Continental, Spain, India, Europe, United States, Oyen , Alberta, durum, Statistics Canada, France, Algeria, TURKEY, Turkish, American, Russia, North Africa, Milan, Ceyda Caglayan, Istanbul, Chicago, Hamburg

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