China Services PMI Hits Three-Month High as New Orders and Hiring Improve 
BOJ Rate Decision in Focus as Yen Weakness and Inflation Shape Market Outlook 
Oil Prices Climb as Middle East Tensions and U.S. Inventory Data Boost Market Sentiment 
Japan Services Sector Records Fastest Growth in Nearly a Year as Private Activity Accelerates 
Federal Reserve Faces Subpoena Delay Amid Investigation Into Chair Jerome Powell 
Dollar Steady as Fed Nomination and Japanese Election Shape Currency Markets 
MAS Holds Monetary Policy Steady as Strong Growth Raises Inflation Risks 
U.S. Urges Japan on Monetary Policy as Yen Volatility Raises Market Concerns 
Japan Declines Comment on BOJ’s Absence From Global Support Statement for Fed Chair Powell. Source: Asturio Cantabrio, CC BY-SA 4.0, via Wikimedia Commons 
Trump Administration Sued Over Suspension of Critical Hudson River Tunnel Funding 
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.
