European stock futures edged higher as traders awaited jobs data from the UK that will help determine Bank of England’s policy rate path. Key data from Germany is also due.
Investors will also keep a close eye on Apple as it’s set to unveil new iPhone 15 lineup later Tuesday. The tech titan is looking to snap several straight quarters of sluggish sales — its longest slump in two decades — and get consumers excited about upgrading again with new features. In currencies, the yen fell and the greenback steadied after falling by the most in two months. The yuan was little changed after China’s central bank set its daily fixing rate at below 7.20 versus the dollar, another sign that it won’t tolerate excessive yuan weakness.
The consumer-price index report Wednesday will provide the latest insight into how much further the Fed may need to go to pull inflation back toward its target. Monthly inflation is expected to accelerate to 0.6% in August, while core is seen stable at 0.2%, according to economists’ estimates. ADVERTISEMENT CONTINUE READING BELOW “If we do see potentially a more sticky inflation number than the 0.6% expected by economists or 0.
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