Company Interview / the open: RBA in focus & ASX to fall

The global equity market sell-off has continued while bond yields have weakened further as fears of a US recession grip investors.

The selling has been fueled by weak US economic data as well as disappointing earnings results, the unwinding of yen-funded trades and rising Middle East tensions.

CBOE's volatility index has pared gains after having jumped to its highest level since March 2020.

The ISM's nonmanufacturing purchasing managers index moved into expansion last month having in June to its lowest level since the height of the pandemic 4 years ago.

U.S. services sector activity rebounded from a four-year low in July as which allayed some fears of an impending US recession.

Traders are now pricing in 92 probability that the Fed will cut its benchmark rate by 50 basis points in September, compared with just an 11% chance seen last week.

A surge in the yen to a seven-month high has seen the US dollar fall around 2% on concerns of US economic weakness.

The Australian share market is set to extend its recent sharp sell-off with ASX futures down 0.8%.

Locally today, the Reserve Bank delivers its policy decision with interest rates expected to stay on hold.

On the corporate front we get earnings results from Arcadium Lithium, Coronado Global, Cettire, Freelancer and Vista Group.