Wall Street is set for a big jump at the opening bell on Wednesday as investors wait to see whether the market can snap a six-day losing streak that has shaved almost 2,000 points off the Dow Jones industrial average.
Faced with falling exports and deflation risks, it suited much of Asia to let their currencies drift lower, until China's abrupt devaluation triggered a tide of volatility that is upsetting not just their currency management but also their growth strategies.
Concerns over the health of the Chinese economy may be causing jitters in Europe over the direction of the global economy but at a consumer level in the UK, there is still a lot of optimism about.
Tomorrow's Important Events
- USDJPY: 119,75
- EURUSD: 1,1384
- S&P 500: 1,867.62
- NASDAQ : 4,506.5