- At over 5% down in four sessions the Dow Jones has suffered its worst start to the year since its inception.
- European Indices followed the US lead, seeing DAX below 10k and currently at a 3-month low whilst CAC eyes up the Aug '15 swing lows.
- Gold was the only hard commodity to benefit from the rout, currently up 4.6% on the week whilst Palladium has shed over 12% since Monday.
- WTI did manage to find support above the GFC lows and USDCAD sold off from the highs as expected. However yet more weak manufacturing data, this time for Canada, helped provide support for USDCAD above 1.404.
- The Australian Dollar accelerated to the downside and saw an intraday spike below 70c, but has since found support. AUDJPY is threatening to break below 82 which, if successful, will send its lowest level since Nov '12.
- VIX currently trades at 24.99, its highest level since Sep '15 and VVIX (volatility of volatility) has risen to 116.55.
- Australian Retail sales
- German Industrial Production
- Nonfarm Payroll
- Canadian employment
- Chinese PPI and CPI
Nylon Handover: On the fourth day of carnage...
This year just keeps on giving. Overnight was a fourth session of commodity currencies, commodities and stocks continuing tumbling whilst bonds and volatility increased in light of geopolotical tensions and global grwoth concerns.