Overnight Price Action
All Asian equity markets have fallen following the 1.4% fall in the S&P 500 overnight and a weaker than expected HSBC China flash PMI. The Nikkei is down 1.0%, the HSI 2.7%, and Shanghai 1.4%. S&P futures are down 0.5%. The USD has strengthened further in Asian trading across the board. EURUSD has fallen to 1.3257, AUDUSD to 0.9250, and USDJPY has risen to 97.0, pushing EURJPY to a five day high.
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Credit Suisse