This one from ABC’s The Business.

Investors may have certainty that US rate cuts are starting in September, but it’s unclear what economic conditions those cuts will bring. 

 Investors are closely watching every data release and communication from central banks for a sense of clarity.

The VIX Index has hit one month high.

Global strategist at Rabobank, Michael Every says investors hoping for certainty are likely to be disappointed.

This piece from my colleague Dan Ziffer comes after RBA governor Michele Bullock spoke yesterday about how it is “premature” to discuss rate cuts.

She even went as far to flag more interest rate hikes if inflation continues, and wouldn’t be drawn into a fight with the federal treasurer about how this is “smashing” the economy.

The ABS is releasing its monthly home lending data at 11:30am AEST. 

ANZ is predicting a 1.3% rise in loans for August, seasonally adjusted and combined for both investors and owner occupiers.

Last month they rose 1.3%.

Loan commitments have been rising steadily since February, when they dipped down with rates at higher peaks.

Swedish automaker Volvo Cars has scrapped its target of going all electric by 2030, saying it now expects to still be offering some hybrid models in its line-up at that time.

Volvo Cars said in a statement on Wednesday that it now aimed for at least 90 per cent of cars sold by the end of the decade to be fully electric or plug-in hybrid models, while up to 10 per cent would be so-called mild hybrids, where electric power only supplements the combustion engine.

The company said its decision came in response to changing market conditions and customer demands.

“We are resolute in our belief that our future is electric,” CEO Jim Rowan said.

“However, it is clear that the transition to electrification will not be linear, and customers and markets are moving at different speeds.”

The US is about to release its non-farm payrolls data.

This data shows the grand total of paid workers in their economy, and as the name suggests, excludes those employed on farms, as well as the federal government, private homes, and non-profits.

Here’s a note from CBA this morning about why its important.

Tonight’s non‑farm payrolls report will be the most important determinant of the size of the FOMC’s September rate cut (10:30pm Sydney time). 

The consensus of US economists estimates payrolls expanded solidly by 165,000 and the unemployment rate ticked down to 4.2% in August. 

Outcomes that are in line with the consensus estimates will indicate a still healthy labour market and support a 25bp rate cut at the FOMC’s September meeting (USD positive). 

However, outcomes much worse than the consensus estimates will tip the odds in favour of a 50bp cut (USD negative).

 Good morning, I’ll be with you until 11am AEST!

Australian shares might rise slightly this morning, with futures in the ASX 200 benchmarket currently up a slither. 

That is after mixed results on Wall Street, with the Dow Jones and S&P 500 both down as much as 0.5% but the tech-heavy Nasdaq actually ending higher, led by Tesla’s stocks.

Tesla is up almost 5% after announcing it’ll be launching its full self-driving car in Europe.

Meanwhile, there will be a lot of focus on Wall Street again today (when is there not?) with jobs data set to come out there tonight. 

I’ll post soon about analyt’s predictions on that data, and the implications for rate cuts in the world’s biggest economy.

Any stories you’d like looked at today?