Key Points:
Eurozone July Unemployment Rate holds steady at 6.6% in July
Chinese Manufacturing dives into contraction to 49.5 in August after 50.2 expected
Singaporean Oil tanker Affinity run aground in the Suez Canal but was refloated fast not disrupting the flow of ships into the north
The ECB meet next week and should hike rates 75 points, this predates expectations of another hike of 50 points in October and 25 in December
Australian Manufacturing PMI drops into contraction – 49.3 for August
The Euro (EUR) has been the strongest currency this week while the British Pound (GBP) earns the spot of the weakest on the main board of currencies
Toyota Motor Company Japan will increase its price of steel it sells by $289 per tonne in October- Toyota is the largest Japanese steel buyer