- The dollar rose to a six-month high as investors increased their bets on further Federal Reserve policy tightening, while US stock futures fell.
- Contracts for the Nasdaq 100 fell 0.7%, with premarket losses at Apple and Nvidia of around 2% each. The US technology equities, which have led this year's gain, received a chill from China's plans to prohibit iPhones in some government organisations.
- This week, investors have focused on a number of economic reports that highlight the US's steady growth while Europe and China see a decline, emphasising the dollar's lasting strength. The Chinese yuan fell to a 16-year low in onshore trading, while the euro fell on data showing a decrease in German industrial output.
- Since early 2023, traders have reduced their wagers on the amount of Fed easing they expect to occur in 2019 to approximately 100 basis points from well over 150 basis points.
- China seeks to broaden iPhone ban to state firms and agencies.
- BoJ's Nakagawa: The 2% inflation target isn't within sight.
- BoE DMP Survey: UK businesses see August year-ahead CPI at 4.8% vs July 5.4%.
