U.S. Stock Futures Edge Higher as Tech Rout Deepens on AI Concerns and Earnings 
China and Uruguay Strengthen Strategic Partnership Amid Shifting Global Order 
Japan Services Sector Records Fastest Growth in Nearly a Year as Private Activity Accelerates 
Bank of England Expected to Hold Interest Rates at 3.75% as Inflation Remains Elevated 
Oil Prices Slip as U.S.–Iran Talks Ease Supply Disruption Fears 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
Asian Markets Slip as AI Spending Fears Shake Tech, Wall Street Futures Rebound 
Bank of Japan Signals Cautious Path Toward Further Rate Hikes Amid Yen Weakness 
This week is relatively less risk heavy compared to last week. Nevertheless, a fresh batch of data from the United Kingdom should keep the drums beating.
What to watch for over the coming days:
- U.S. economic data:
After a disappointing August so far, in terms of economic dockets, traders would focus on the next batch to determine how broad-based the weakness has been. Focus will remain on retail sales data on Thursday and CPI inflation data on Friday.
- UK economic data:
While data have been disappointing for the U.S., they have been quite upbeat for the United Kingdom. All the PMIs have surprised to the upside. So, the focus is clearly on the next batch. Inflation data on Tuesday, unemployment report on Wednesday, and retail sales on Thursday.
- Central banks:
Swiss National Bank and the Bank of England (BoE) will announce policy decisions on Thursday. No moves are expected from either of them but commentaries would be noteworthy. Two prominent Fed speakers are scheduled to speak on Monday and it is a must watch before next week’s FOMC rate decision. Atlanta Fed president Dennis Lockhart and Lael Brainard from Federal Reserve board of Governors.
In addition to the above, unscheduled Brexit commentaries would keep weighing on the market.
