Promising Inflation Data ahead of Friday's Eurozone HICP Release

Another mixed session in Europe on Thursday with US futures pointing to a similar open on Wall Street despite some promising inflation figures from the euro area.

US Government Shutdown: Assessing Economic Impact and Recession Risks

The recurring spectre of a government shutdown has once again loomed over the United States, prompting concerns about its potential economic consequences. The shutdown may occur this weekend unless lawmakers agree on spending levels and whether to give more aid to Ukraine. Economists and analysts are closely examining the situation, weighing the likelihood of a recession, and evaluating the resilience of the American economy in the face of this uncertainty.

Sunset Market Commentary

Belgian statistical agency (Statbel) reported that the Belgian consumer price index declined by 0.69% M/M in September, reducing the Y/Y measure for headline inflation to 2.39% from 4.09% in August.

German CPI Below Forecasts, EURUSD Fights for 1.05

German consumer inflation slowed more than expected in September, according to Destatis’ preliminary estimate. The price growth rate slowed to 4.5% y/y from 6.1% y/y vs. 4.6% y/y expected. However, the monthly rate growth remains elevated, with the last four months adding 0.3% each, bringing the annual rate to 3.6%.

EUR/CHF – Promising Inflation Data Ahead of Friday's Eurozone HICP Release

Inflation data from some eurozone member states was released on Thursday and there was some cause for optimism. While the eurozone HICP release isn’t due until tomorrow, we do get some insight ahead of time from the individual country breakdowns and it’s Germany that’s offered a promising update this morning.

RBA Board a Certain Hold Next Week

The Reserve Bank Board meets next week on October 3 with Governor Bullock presiding over her first meeting. We are certain that the Board will decide to continue the pause that began at the July meeting.

Don't Get Too Excited by Soft Eurozone Inflation

The first set of inflation data from the Eurozone countries was mixed. German inflation eased more than expected from 6.4% to 4.3% in September, a level last seen before the war in Ukraine. Base effect due to public transport’s disappearance from the comparison and statistical distortions explained a part of the significant decline. In Spain […]

DXY Dropped to 106.224 But Without Compromising Upward Sloping Trend Channel

DXY dropped to 106.224 but without compromising the upward sloping trend channel. Sterling saw a chance to lock in some gains as the risk environment turned less hostile and gilts underperformed but had to forfeit on all of them. EUR/GBP closed slightly higher at 0.8658 after hitting an intraday low of 0.863. The likes of oil turned in about half of the sharp gains a day earlier. Brent finished at $95.38/b.

Japanese Yen Gains Ground, Tokyo Core CPI Eases

The Japanese yen is showing some life following a nasty slide earlier in the week, which saw it decline around 1.5% and come close to the symbolic 150 line. In the European session, USD/JPY is trading at 148.72, down 0.40%.

Canadian Dollar Extends Gains ahead of GDP

The Canadian dollar has posted losses on Friday. In the European session, USD/CAD is trading at 1.3446, down 0.28%.