US and European stocks have been trading flat to slightly lower today while traders await some of the preview data to Thursday’s FOMC decision like US retail sales and Empire Manufacturing. There’s lots happening in Asia Pacific countries to keep local markets hopping even without much momentum coming from the US today. Overnight, Malcolm Turnbull won a vote among Liberal MP’s and takes over from Tony Abbott in a bid to turn around the fortunes of the ruling coalition with the National party. AUD and the S&P/ASX rallied on the news but have been giving back some of their early gains more recently. Japan could also attract attention today with a Bank of Japan meeting scheduled. JPY has been rising overnight suggesting that traders are not expecting any changes. Despite one ongoing hawkish dissenter for the last several months, recent chatter has been speculating on the potential for an expansion of QQE perhaps as soon as the next meeting to be held in late October. Any hints on future monetary direction from Governor Kuroda could have a significant impact on trading in JPY and Japanese stocks. We’ll also see today if yesterday’s data driven softness sparks any additional government intervention or if the situation there continues to generally stabilize with indices climbing up out of double bottoms. Crude oil remains under pressure with Brent down 3.4% and WTI down 1.7% on increasing concerns about weakening China in the wake of yesterday’s soft industrial production report. Corporate News There have been no major corporate announcements after the US close today. Economic News Significant announcements released overnight include: Australia PM vote Malcolm Turnbull defeated Tony Abbott 54-44 in a Liberal leadership challenge to take over the party and top job. Upcoming significant announcements include: 11:30 am AEST Australia RBA meeting minutes 2:00 pm AESTish Bank of Japan decision no change to interest rates or QQE expected 3:00 pm AEST Singapore retail sales street 5.0% 9:30 am BST UK consumer prices street 0.0$ 9:30 am BST UK core CPI street 1.0% 9:30 am BST UK retail prices street 0.9% 9:30 am BST UK producer input prices street (13.6%) 9:30 am BST UK producer output prices street (1.7%) 9:30 am BST UK ONS house prices previous 5.7% 7:45 am BST France consumer prices street 0.1% 9:00 am BST Norway trade balance previous NOK 23.8B 10:00 am BST Eurozone trade balance street €28.0B 10:00 am BST Germany ZEW current street 64.0 10:00 am BST Germany ZEW expectations street 18.3 8:30 am EDT US retail sales street 0.2% 8:30 am EDT US retail ex auto and fuel street 0.3% 8:30 am EDT US Empire manufacturing street (0.5) 9:00 am EDT Canada existing home sales previous (0.4%) 9:15 am EDT US industrial production street (0.2%) CMC Markets is an execution only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.