foreign thanks for joining us at xm.com you're watching today's market common by RAF wayajian I'm Christina marujas markets remained in a cautiously risk-gon mood on Tuesday as hopes that China's economic meltdown is stabilizing and that central banks are nearing the end of their tightening cycle short up sentiment ahead of some key events lined up this week Traders are anxiously anticipating the August inflation report tomorrow and retail sales on Thursday for Clues on what the FED will decide at its policy meeting next week the European Central Bank will have the honors of kicking off the 10-day Central Bank Bonanza on Thursday markets are split as to whether the European Central Bank will raise rates this week and should they press ahead with a 25 basis points hike investors would likely ratchet up their bets of further tightening by the FED also either way the FED is not seen as having a lot of Firepower left and this has put a halt on the rally and treasury yields at least for the time being giving Wall Street some breathing space both the S P 500 and NASDAQ have rebounded from August two month lows with a ladder being boosted from a jump and sub big Tech names the latest being Tesla the spotlight today will fall on Apple as the company is set to launch its latest products including the next generation iPhone but equities were somewhat mixed today in Europe and Asia as U.S Futures turned red in FX markets the US dollar clawed back some of the prior day's losses and this was slightly firmer against the Japanese Yen Japan's 10-year government bond yield spiked to the highest since January 2014 on Tuesday following Commons from Bank of Japan Governor Kazu awara who alluded to the possibility of ending negative interest rates by year end if there is enough data to indicate that inflation in wages are rising sustainably even 2023 star performer the pound hasn't been able to put much of a plight against the Greenback in this latest round as the bank of England has hinted that UK rates are close to peaking yet job numbers released earlier in the session highlight the Dilemma facing the bank of England as employment of the UK fell more than expected in the three months to July but average earnings accelerated Sterling has fallen back below 125 today while the Euro slipped to 107.15 thank you for watching today's market comment here at xm.com foreign
