Daily digest market movers: Soft opening
- At 14:00 GMT, the US Census Bureau will release the US Wholesale Inventories for July, expected to come in at 0.3%.
- The US Treasury will auction some short-term paper at 15:30 GMT, with a 3-month and a 6-month bill auction.
- At 19:00 GMT, the Consumer Credit Change for July is expected to jump to $12.2 billion from $8.93 billion prior.
- Equities in Asia have closed down again by on average 1%. European and US equities are rather chosing positive numbers with nearly all major European indices and US futures up by 1%.
- The CME Fedwatch Tool shows a 73.0% chance of a 25 basis points (bps) interest rate cut by the Fed on September 18 against a 27.0% chance for a 50 bps cut. For the meeting on November 7, another 25 bps cut (if September is a 25 bps cut) is expected in November by 32.6%, while there is a 52.5% chance that rates will be 75 bps (25 bps 50 bps) and a 14.9% probability of rates being 100 (25 bps 75 bps) basis points lower.
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