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Sep 7 - China: Economic Situation 'The New Normal'

 

EMOTION MOVING MARKETS NOW: 9/100 EXTREME FEAR

PREVIOUS CLOSE: 11/100 EXTREME FEAR

ONE WEEK AGO: 14/100 EXTREME FEAR

ONE MONTH AGO: 28/100 EXTREME FEAR

ONE YEAR AGO: 47/100 NEUTRAL

Put and Call Options: EXTREME FEAR During the last five trading days, volume in put options has lagged volume in call options by 24.35% as investors make bullish bets in their portfolios. However, this is still among the highest levels of put buying seen during the last two years, indicating extreme fear on the part of investors.

Market Volatility:  NEUTRAL The CBOE Volatility Index (VIX) is at 26.09. This is a neutral reading and indicates that market risks appear low.

Stock Price Strength: EXTREME FEAR The number of stocks hitting 52-week lows is slightly greater than the number hitting highs and is at the lower end of its range, indicating extreme fear.

PIVOT POINTS

EURUSD | GBPUSD | USDJPY | USDCAD | AUDUSD | EURJPY | EURCHF | EURGBPGBPJPY | NZDUSD | USDCHF | EURAUD | AUDJPY 
 

S&P 500 (ES) | NASDAQ 100 (NQ) | DOW 30 (YM) | RUSSELL 2000 (TF) Euro (6E) |Pound (6B) 

EUROSTOXX 50 (FESX) | DAX 30 (FDAX) | BOBL (FGBM) | SCHATZ (FGBS) | BUND (FGBL) 

CRUDE OIL (CL) | GOLD (GC) 

 

MEME OF THE DAY – DUBAI GOLD DEALER OLYMPICS 

 

UNUSUAL ACTIVITY

SH NOV 25 CALL Activity PRO SHARES SHORT 800 @$.60 on OFFER

NBL SEP 30 CALL Activity @1.60 by offer 6000+ Contracts

VIPS NOV 22 CALLS 3200 Block right by the BID side @$.575

LANC Director Purchase 500 @$96.6

CDE President and CEO Purchase 25,000 @$2.8984

BBT Director Purchase 1800 @$35.797 Purchase 1800 @$35.779

More Unusual Activity…

 

HEADLINES

 

China Said to have called the economic situation 'the new normal'

China Revises 2014 GDP Growth To 7.3% (prev 7.4%) - WSJ

G-20 Seals Currency Peace Pact As China Sets Out Bubble Cleanup -- BBG

US Change in Nonfarm Payrolls Aug: 173K (est 217K; rev prev 245K)

Fed's Lacker: It's Time for Fed to End Era of Zero Rates

Fed Fischer details gradual tightening approach to G-20

7 of 17 Primary dealers see rate hike in September --Rtrs Survey

Tsy Sec Lew: China should avoid persistent FX rate misalignments

G20 promises transparency on rate moves

Japanese FinMin Aso: China's Zhou referred to the 'Bubble Bursting'

Tsipras Vows Battle To Improve Bailout After Greek Election - RTRS

Syriza's Popularity Wanes As Key Poll Approaches - FT

EU's Dijsselbloem: Greece Still Needs To Build Trust -- CNBC

UK PM Cameron Braced For Commons Revolt Over EU Referendum - BT

Italian PM Renzi's Reforms Urge Businesses To Speed Italy's Upturn - RTRS

Italian FinMin: Time For Scrutiny If China Storm Lasts - CNBC

German Industrial Prod. SA (Mom) Jul: 0.7% (Est. 1.1%, Prev. -1.4%, Rev. -0.9%)

PBoC Governor Zhou: China Stock Market Correction 'Mostly Over' - WSJ

China FinMin Lou: Growth Of About 7% Is The New Normal -- CNBC

Australian Foreign Reserves (AUD) Aug: 71.2b (Prev 68.9b)

Saudi Arabia To Cut Spending Amid Record Budget Shortfalls - Telegraph

Pilots' Union VC Says To Strike At Lufthansa On Tuesday - RTRS

Glencore Swings $10Bln Axe To Cut Debt -- FT

North Sea Loses 5,500 Jobs In Oil Market Downturn - RTRS

Tesco to Sell Korean Unit to MBK-Led Group for $6.1Bln-- BBG

Apple To Launch Apple TV With Gaming Focus - RTRS

 

HEADLINES

China Revises 2014 GDP Growth To 7.3% (prev 7.4%) -- WSJ

G-20 Seals Currency Peace Pact As China Sets Out Bubble Cleanup -- BBG

Tsipras Vows Battle To Improve Bailout After Greek Election-- RTRS

Syriza's Popularity Wanes As Key Poll Approaches-- FT

EU's Dijsselbloem: Greece Still Needs To Build Trust -- CNBC

David Cameron Braced For Commons Revolt Over EU Referendum-- BT

Italian PM Renzi's Reforms Urge Businesses To Speed Italy's Upturn-- RTRS

Italian FinMin: Time For Scrutiny If China Storm Lasts-- CNBC

German Industrial Production SA (Mom) Jul: 0.7% (Est. 1.1%, Prev. -1.4%, Rev. -0.9%)

PBoC Governor Zhou: China Stock Market Correction 'Mostly Over' -- WSJ

China FinMin Lou: Growth Of About 7% Is The New Normal -- CNBC

Australian Foreign Reserves (AUD) Aug: 71.2b (Prev 68.9b)

Saudi Arabia To Cut Spending Amid Record Budget Shortfalls-- Telegraph

Pilots' Union VC Says To Strike At Lufthansa On Tuesday-- RTRS

Glencore Swings $10Bln Axe To Cut Debt -- FT

North Sea Loses 5,500 Jobs In Oil Market Downturn-- RTRS

Tesco to Sell Korean Unit to MBK-Led Group for $6.1Bln-- BBG

Apple To Launch Apple TV With Gaming Focus-- RTRS

MARKET DATA

EUR/USD Turns Negative Near 1.1150-- FXStreet

EUR/GBP Drops To Lows Near 0.7320-- FXStreet

GBP/USD Sidelined Below 1.5200-- FXStreet

USD/JPY: Yen Slides As Risk Sentiment Improves On China-- WBP

NZD/USD: Kiwi Squeezed By Stronger USD-- WBP

AUD/USD: Aussie Jumps After Building Data-- WBP

DAX To Recover From Steep Weekly Falls, Shanghai Down-- WBP

Asia Subdued As China Stocks See-Saw After Trading Resumes-- RTRS

Oil Prices Fall On Global Oil Glut Fears, Weaker U.S. Jobs Data-- RTRS

WTI Dips Below $46 Mark On Weak Projections- WBP

Gold Struggles Near 2-1/2-Week Low On US Jobs Data-- Economic Times

GOVERNMENTS/CENTRAL BANKS

Fed's Lacker: It's Time for Fed to End Era of Zero Rates --BBG

Fed Fischer details gradual tightening approach to G-20 --BBG

7 of 17 Primary dealers see rate hike in September --Rtrs Survey

OECD's Gurria: Fed 'Normalization' a Good Thing --BBG

Tsy Sec Lew: China should avoid persistent FX rate misalignments --ForexLive

G20 promises transparency on rate moves as global economy disappoints --Rtrs

Japanese FinMin Aso: China's Zhou referred to the 'Bubble Bursting' At G20 --BBG

China Said to have called the economic situation 'the new normal'

ECB's Nowotny: ABS purchases not as successful as hoped

EU's Moscovici: Europe well prepared to cope with economic storms --ForexLive

Eurogroup's Dijsselbloem: Elections Will Not Solve Greece's Problems

Another Greek Poll Shows New Democracy Leading SYRIZA --Greek Reporter

Canada FinMin Oliver Shrugs Off Canadian Recession Talk Citing Job Gains --BBG

IMF's Lagarde: Credit flow for growth still curbed by NPLs in Europe --Rtrs

IMF: No BOJ easing needed in October if inflation expectations anchored --Rtrs

IMF executive says increasing likelihood of interim quota --Rtrs

S&P Affirm Sweden At AAA; Outlook Stable

GEOPOLITICS

Saudi King to visit US, Obama says is evidence of strong relationship --USAToday

FIXED INCOME

Short-dated note prices slip, long-dated bonds rally on U.S. jobs data --Rtrs

Bunds rise after U.S. jobs data --Rtrs

FX

USD: Dollar mixed as Fed moves still uncertain after U.S. jobs data --RTRS

JPY: Yen Remains Higher After NFP Report --WBP

CAD: USD/CAD rises after U.S. data, Lacker comments --Investing

AUD: Aussie Extends Losses at 6.5-Yr Low --WBP

EUR: Monetary Policy Divergence to Dominate Again --WBP

ENERGY/COMMODITIES

Oil futures gain 1.8% for the week --MktWatch

Gold ends week 1.1% lower after jobs report --MktWatch

Copper drops on caution over U.S. rates and China --Rtrs

Baker Hughes: Weekly oil drilling rigs down 13 to 662

Russia Bows to Cheap Oil as Putin Aide Sees $50 Price for Budget --BBG

Norway oil fund could sell coal-related shares worth $6.6 billion --Rtrs

EQUITIES

INDEX: US Stocks retreat in wake of US jobs report --FT

INDEX: European stocks drop as investors wrestle with U.S. rate outlook --MktWatch

INDEX: FTSE falls, U.S. jobs data suggests Sept rate hike possible --Rtrs

M&A: BlackBerry to buy rival Good Technology for $425 million --Rtrs

M&A: GVC trumps 888 to clinch deal for Bwin --Rtrs

MATERIALS: Glencore Set for Worst Week Ever as Mining Shares Extend Losses --BBG

MATERIALS: S&P Cut Rio Tinto Outlook to Negative from Stable

INDUSTRIALS: Japanese banks among bidders for GE's local finance unit --Rtrs

TECH: Twitter board won't decide on new CEO until after Labor Day --CNBC

AUTOS: Fitch Affirms Daimler at A-; outlook stable

BANKS: Moody's downgrades Greek banks' senior unsecured debt ratings

EMERGING MARKETS

Time to buy EM stocks, history suggests --FT

Fitch: China's Policy Responses to Market Corrections Favour Stability

Ruble Swinging Most in Four Months Triggers Putin Budget Switch --BBG

India to tax collectors: give foreign companies a break --Rtrs

 

Venezuela's Maduro Names New Ministers on Twitter From Qatar --BBG