Samurai Summary: Top Tweets 01/09/2015

Oil has staged an impressive 3 day rally which has brought the bulls back in business with the mother of all short squeezes. This follows data full days of tipping sentiment pointing to a possible bottoming to oil. The commodity which has had a tough time over the last year began to plunge as OPEC set out increasing production in an attempt to bump the US shale producers out the market. It was reported last week that the Energy Information Agency had used a different measure this time around to calculate the amount of barrels being brought to the surface which saw a dramatic drop to what was thought which has lead the price surge. Yesterday it was announced that OPEC was willing to get "fair prices" for its member nations which many interpreted as a cut in production.

Three days of oil gains wipe out a month of losses http://t.co/UbuBuvlIuc pic.twitter.com/n5d3PaLXRF

— Bloomberg Business (@business) September 1, 2015

Another month gone by another disappointing PMI number from China that's somewhat taken the sting out of the tail of the global rebound in world stock markets. Analysts are pointing to factors such as the constant turmoil being met by Chinese equities troubling the manufacturing sector by affecting exports with uncertainty around valuations of the Yuan. If there's a lesson to be learnt here for the Chinese government it's in the art of communication and transparency, the closer you get to the surface the more better the market can read the situation.

Caixin China manufacturing PMI falls to 47.3 in August, hitting more than 6-year low http://t.co/NAnYS8K54s pic.twitter.com/QPT9AWaMPB

— China Xinhua News (@XHNews) September 1, 2015

And the arrests begin with Chinese authorities following through with threats made last month that any person who is found guilty of disseminating information that has a negative effect of market valuation will be arrested and charged. If the government believes it can curb the rout by doing this it is very mistaken. It only serves to make it worse as markets need to degree of transparency to function properly.

China announces legal actions for "securities violations" http://t.co/6r1E9ceRlF pic.twitter.com/xsIfda3TCa

— Wall Street Journal (@WSJ) September 1, 2015

The Reserve Bank of Australia held interest rates steady as a weaker Aussie Dollar helped cushion the Australian economy from the commodity rout. The land Down Under has seen contracted economic blues as it's reliance on Chinese exports has led it to be drag down with the Chinese downturn.

RBA holds rates as Aussie cushions China-led commodity drop http://t.co/t2byRN5lDp via @business pic.twitter.com/C3vgunZvlW

— Bloomberg Markets (@markets) September 1, 2015