The British construction PMI in August was 50.8, compared with the expected 50.5 and the previous value of 51.7.

Market news: Abu Dhabi Export Office signed a US$100 million credit line agreement with the National Bank of Egypt to boost exports from the UAE.

According to Indian media ET NOW: The Reserve Bank of India may meet on Wednesday to discuss the incremental cash reserve ratio.

Apple (AAPL.O) fell 0.71% before the market opened.

Pakistani Minister: Expect IMF response on tariff relief within 1-2 days.

Pakistan Minister: Pakistan is negotiating with the International Monetary Fund on electricity tariffs.

London Metal Exchange (LME) zinc stocks fell the most in four weeks.

London Metal Exchange (LME): Aluminum inventories decreased by 4,475 tons, copper inventories increased by 3,000 tons, nickel inventories increased by 252 tons, lead inventories increased by 300 tons, tin inventories increased by 25 tons, and zinc inventories decreased by 3,175 tons.

USD/INR rose to 83.16, reaching a 10-month high.

Norwegian natural gas transportation management company Gassco: Extended the suspension of natural gas production at the Troll oil field by 2 days to September 10.

S&P Global: German business expectations fell to 9-month low. Input costs are nearing record declines as supply chain pressures ease.

Relevant documents show that the German government plans to simplify the rules for tax credits for residential construction in an effort to revive the industry. There are also plans to streamline, online approvals for construction and expansion of wind farms, transport and data networks, and speed up the immigration approval process for foreign skilled workers.

German Chancellor Scholz: It is clear that we will need an additional defense budget of approximately 25 billion euros starting in 2028.

German Chancellor Scholz: States must also implement skilled immigration laws.

German Chancellor Scholz: The government will continue to promote large-scale investment in the chip and battery industries.

German Chancellor Scholz: The key is to speed up the process and ensure sufficient investment funds.

German Chancellor Scholz: He is not in favor of an economic stimulus plan financed by debt, which would conflict with the policies of the European Central Bank.

German Chancellor Scholz: Germany will implement EU nature protection regulations on a one-to-one basis, and there will no longer be special German regulations.

German Chancellor Scholz asked the whole country to work together to deal with the economic crisis.

WTI crude oil fell back below $86/barrel, down 0.35% on the day.