China turmoil sends oil and stocks lower…

China turmoil sends oil and stocks lower…

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Pre-market price action and scheduled economic data that may have an impact on the global financial markets:

STOCKS – Global shares tumbled for a sixth day on Thursday and oil prices slid to levels not seen since the early 2000s, after China guided the yuan lower and Shanghai shares tumbled by 7 percent, igniting fears of competitive devaluations across Asia.

BONDS –  German bonds, which are considered a safe haven, benefited with the ten-year yields dropping below 0.50 percent for the first time in over a month.

COMMODITIES – The Bloomberg Commodity Index fell 0.8 percent, headed for its lowest close since 1999. Copper dropped 2.7 percent in London.

CURRENCIES –  The yen, which has been the best-performing major currency so far this year amid the demand for safe-haven assets, rose as much as 1 percent to its strongest level since August versus the dollar.

ECONOMIC DATA – BOC Gov Poloz Speaks at 8:25, US Unemployment Claims at 8:30, Natural Gas Storage at10:30, Retail Sales m/m at 19:30 ET.

      – Trading Team, Rios Quantitative LLC

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