 Okay, good morning and it's Monday the 13th September. I hope you're doing well and had a great weekend as per usual Monday morning going to get you up to speed and some of the major news from the weekend and then have a look at the calendar of events for the week ahead and things that I'll talk about are going to be the US budget prospects of that passing a few things to be aware of for mansion and also some source reports about potential corporate tax rates in the US What's it going to talk about the breakup command from the state in China of Alipay on the latest crack down on the tech space Which saw that underperform in the Far East talk about Iran and North Korea on the geopolitical front and then weather watch as there's Another tropical storm that could form into a hurricane in the Gulf of Mexico in the coming days For the week ahead. We'll have a look at some of the highlights being namely US CPI Tuesday retail sales on Thursday We've also got the new release of the highly anticipated iPhone 13 lineup and the new series 7 Apple Watch as well coming out on Tuesday is what's expected from that that event But let me get straight into an overview of the charts first to have a look at how things are performing And the most notable thing probably is the dollar index a little bit of a blip high as we've gone into the European Open the Dixie's now trading up just shy of two tenths of one percent So a little bit of weight felt in both major currency pairs in the top left Euro dollar and cable both down around 25 pips each respectively pretty flat though overall overall in gold and T note futures We have seen a marginal uptick in WCI crude Just as Europe have come in and just keeping an eye there This is on now daily bar chart and you can see here We've got that kind of double-topper price action that we had at the beginning of the month on the second and third of September Which is around these levels at 70 53 Which has also been a prior inflection point in WCI crude over the period of the last four months or so So some upside resistance of note just coming in in WTI In equity index futures Obviously after a bit of downside that was seen to finish off last week That did continue in the overnight Asia pack session as you can see here as evident in the S&P 500 However, just finding some support at that kind of Wall Street close on Friday low And we've just seen a bit of an about turn coming back up here and Looking at resistance here identified from that previous low that we saw on Friday and the overnight recommencement of trade high and which would be about four Points above the current price with pivot residing just above in the S&P 500 future for the moment All right. Well, look, let's get straight into it and talk about a couple of the news stories As I mentioned overnight in Asia The Hangsang tech index was down quite heavy again about three percent After reports as you can see here in the FT talking about officials seeking to break up and group companies Ali pay The plan would also see and turn over its user data that underpins its lending decisions to a new credit scoring joint venture With you guessed who? Yes, the state So they will do that joint venture on credit scoring which would be partly state owned According to two people familiar with the process Ali Baobai shares were down about six percent Actually in Hong Kong trade overnight so the latest in that episode of government looking to break up some of these tech giants over in China otherwise in the US the latest on the the budget is that Manchin Has told the CNN State of Union that he would not vote for three and a half trillion Budget bill adding that there's no way they're going to meet this September 27th deadline Which is obviously looming at the end of the month Separately on the back of this we've also had comments from the House Democrats Who are believed to be set to propose raising the top corporate tax rate to 26.5% According to people familiar with the matter which is below what Biden was pushing for which was 28% Democrats on the House and Ways and Means Committee are seeking To implement new taxes for crypto currency Tobacco all of this looking to help to pay for that trillion dollar economic plan that's been proposed by Biden Elsewhere some other things on the geopolitical front Neither of which I must up front say is particularly market moving and certainly It's not a rationale of why crude oil is moving this morning But there are things to be aware of because these are hotly contested geographic areas On namely Iran and North Korea and Peninsula So if with Iran the reason why they're in the news over the weekend is they've agreed to allow UN Nuclear watchdog access to surveillance cameras inside its atomic facilities In what's seen as largely symbolic move The positive step raises the likelihood that Tehran will escape formal punishment Therefore by the IAA at this week's meeting hence the timing Where they are expected to be censored for failing to cooperate with investigation to traces of uranium found at undeclared Nuclear sites. So that's the reasons there Separately North Korea, you might have seen some fairly what sound quite sensational headlines They successfully test fired a new type of long-range cruise and missile over the weekend Which technically speaking means then it could cover the entirety of of Japan Which obviously is the most contested within that region and the news comes just days after North Korea held its first military parade Since Joe Biden became US president So almost feels like we've been here before with Biden and G having that first phone call the end of last week in seven months And then we start to see the ante Just ratchet up a little bit on the peninsula, which is normally a show of kind of subtle force within that region Between the bigger top-level discussions happening on a broader context between China and the US. So the Korean news as Quite punchy as it sounds. It's really not that big a deal for markets because it's fairly common place And then on the weather watch something for any oil traders to be aware of Just coming on the coattails of Ida We've now got periods of heavy rainfall expected to impact portions of the Texas and Louisiana coasts Through the middle of the week Nicholas is forecast to approach the middle Texan coast as you can see here as a strong tropical storm today And could be near hurricane intensity if it moves to the right of the forecast track And remains over water longer. And so definitely worth just keeping that in mind as well if you're an energy trader As far as the Calendar is concerned for this week I'm just going to focus on a couple of key things rather than going to full details of which you can read From my morning note. It's available on my Twitter handle. I've already sent out this morning So starting with the US which will be the main focus, of course And the main things to look out for here is not so much today You can see today is actually being emitted from this calendar completely because of a lack of real big things happening So Tuesday then we get US CPI coming out And that's going to be quite key giving policy makers investors fresh insight into how persistent any concerns are around US inflation The year-on-year for August expected at 5.3 percent on a month-on-month basis Price increases have moderated somewhat But now the focus is shifting as to whether sectors beyond those most sensitive to the pandemic related disruptions They in themselves starting to remain a little bit more persistent in that sense so Exing out these Pandemic in the osyncrasies is underlying inflation actually proving to be a little bit more sticky And we talked about this last week the fact that PPI prices in China are becoming a 13-year high That means then that US import prices from China are going up and that's that game passed through then ultimately to the US Consumer and this of course is very key for that that whole idea about the timing and kind of process behind Tapering which we're expected from the Fed in the coming months Otherwise from the US sticking with that first and we get industrial production from US on Wednesday But then we get US retail sales on Thursday now the expectation is there for another fall If the headline is realized it would represent the third successive monthly fall in retail sales Downside in August like to come from auto sales Which has been driven by chip shortages according to analysts on the street and then Friday You get the September University of Michigan sentiment figure This is the preliminary ones interesting to get a bit of a gauge on where consumer sentiment is at last month in that reading We saw the weakest print in more than a decade mainly due to a slump in Expectations as personal financial prospects continue to worsen due to smaller income gains and higher inflationary trends Impacting the consumer psyche overall so that would be quite closely watched from the UK We've got jobs data on Tuesday You've then got UK CPI on Wednesday and UK retail sales comes out on Friday So quite a lot of focus on the UK as well from a data perspective But none of that of which will be probably impactful too much on the timeline for the Bank of England and perception over The tightening of policy in the future other interesting things happening this week called Drupal witching on Friday So refers to the date of which derivatives of stock index futures stock index options stock options and single stock futures all expire Simultaneously that normally just generates a bit of buzz around the potential larger volume coming through the market And obviously comes at the end of the week So something to be aware of and if an equity perspective You also have Apple California streaming is what the event is being dubbed by the company themselves and a new iPhone 13 lineup set to be announced by the company alongside a redesigned Apple watch series 7 In terms of the iPhone 13 smaller notch faster refresh rate displays a faster a 15 processor the biggest improvements We're expected to see this time round Smaller tweaks Apple expected to include range from a portrait mode for video Support for improved pro res video recording as well But as per with all these Apple events if you just go on to Apple Mac 9 to 5 wired CNET Apple insider you can already get pretty much Exactly to the tea everything that's going to be announced by the company and hence the reason often you see a bit of a buy The rumor sell the fact in Apple shares going into these events because hardly anything comes of a surprise because it all gets leaked By a very active blog sites going into the actual event, but it's nice to just be aware of for this week And so that is it as I said for a bit more of a breakdown some of those data points. I just mentioned You can access it here Also, of course, we've got the launch of our new platform amplify me happening on Wednesday The website is already now up and running So feel free to check it out in the in the meantime before I go into more details later in the week It's just amplify me comm. All right guys have a fantastic week ahead and I'll see you same time tomorrow. Take care