FORECAST • MARKET CONTEXT

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News briefingHigh impact

France consumer confidence plunges to lowest since 2013 as fiscal worries deepen

EUR

France October consumer confidence 80 vs 85 expected Prior 86; revised to 85 That's a major blow. French household confidence falls to its lowest since 2013 in October as fiscal worries and concerns over the country's public finances weigh heavily on sentiment.

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What this may mean

Central-bank guidance can quickly change interest-rate expectations, currency volatility, bond yields and risk appetite.

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Market analysisHigh impact

France consumer confidence plunges to lowest since 2013 as fiscal worries deepen

EUR

France October consumer confidence 80 vs 85 expected Prior 86; revised to 85 That's a major blow. French household confidence falls to its lowest since 2013 in October as fiscal worries and concerns over the country's public finances weigh heavily on sentiment.

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What this may mean

Central-bank guidance can quickly change interest-rate expectations, currency volatility, bond yields and risk appetite.

Key points

  • Market context: Mixed / needs confirmation
Link to this update
News briefingHigh impact

What are the main events for today?

USD

EUROPEAN SESSION In the European session, we don't have much on the agenda other than a couple of low-tier releases like the French consumer confidence and the Spanish unemployment rate. The data won't change anything for the ECB, so the market reaction will be muted.

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What this may mean

Central-bank guidance can quickly change interest-rate expectations, currency volatility, bond yields and risk appetite.

Link to this update
Market analysisHigh impact

What are the main events for today?

USD

EUROPEAN SESSION In the European session, we don't have much on the agenda other than a couple of low-tier releases like the French consumer confidence and the Spanish unemployment rate. The data won't change anything for the ECB, so the market reaction will be muted.

Read the detailsClose details

What this may mean

Central-bank guidance can quickly change interest-rate expectations, currency volatility, bond yields and risk appetite.

Key points

  • Market context: Mixed / needs confirmation
Link to this update
News briefingHigh impact

Bond market tensions ease but Treasury yields near 5% and France's debt risks keep investors on edge

USD

There is a bit of a welcome relief in global bonds to start the new week, particularly in Europe after Moody's affirmed France's Aa3 credit rating. Meanwhile, Treasury yields have also settled down a fair bit after an extremely volatile period earlier this month.

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What this may mean

Central-bank guidance can quickly change interest-rate expectations, currency volatility, bond yields and risk appetite.

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Market analysisHigh impact

Bond market tensions ease but Treasury yields near 5% and France's debt risks keep investors on edge

USD

There is a bit of a welcome relief in global bonds to start the new week, particularly in Europe after Moody's affirmed France's Aa3 credit rating. Meanwhile, Treasury yields have also settled down a fair bit after an extremely volatile period earlier this month.

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What this may mean

Central-bank guidance can quickly change interest-rate expectations, currency volatility, bond yields and risk appetite.

Key points

  • Market context: Mixed / needs confirmation
Link to this update
News briefingMedium impact

European markets face a quiet calendar today as central banks and big tech earnings loom

USDEURJPYCAD

European traders will be greeted with a rather bare economic calendar when they get to their desks today, and I reckon that might suit some market players just fine considering what is on the agenda later this week. In terms of data releases, we only have French consumer confidence for October and the ECB's survey on euro area lending for September.

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What this may mean

Central-bank guidance can quickly change interest-rate expectations, currency volatility, bond yields and risk appetite.

Link to this update
Market analysisMedium impact

European markets face a quiet calendar today as central banks and big tech earnings loom

USDEURJPYCAD

European traders will be greeted with a rather bare economic calendar when they get to their desks today, and I reckon that might suit some market players just fine considering what is on the agenda later this week. In terms of data releases, we only have French consumer confidence for October and the ECB's survey on euro area lending for September.

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What this may mean

Central-bank guidance can quickly change interest-rate expectations, currency volatility, bond yields and risk appetite.

Key points

  • Market context: Mixed / needs confirmation
Link to this update
News briefingHigh impact

Asia-Pacific market news: Regional stocks mostly rose

USDJPYAUDCADNZDCNY

Asia firms into Tokyo lunch: Japan and Korea stocks rise, AUD and NZD gain after Nasdaq lead Ethereum Foundation “dump” is a $6.4m treasury sale, not a crisis South Korea Q3 GDP grows 1.0%, beating forecasts as AI chip boom lifts exports China September industrial profits jump 14.4% y/y, rebounding from 4.2% in August Japan services PPI picks up to 3.7% as August revised low...

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What this may mean

Central-bank guidance can quickly change interest-rate expectations, currency volatility, bond yields and risk appetite.

Link to this update
Market analysisHigh impact

Asia-Pacific market news: Regional stocks mostly rose

USDJPYAUDCADNZDCNY

Asia firms into Tokyo lunch: Japan and Korea stocks rise, AUD and NZD gain after Nasdaq lead Ethereum Foundation “dump” is a $6.4m treasury sale, not a crisis South Korea Q3 GDP grows 1.0%, beating forecasts as AI chip boom lifts exports China September industrial profits jump 14.4% y/y, rebounding from 4.2% in August Japan services PPI picks up to 3.7% as August revised low...

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What this may mean

Central-bank guidance can quickly change interest-rate expectations, currency volatility, bond yields and risk appetite.

Key points

  • Market context: Mixed / needs confirmation
Link to this update
News briefingMedium impact

China September industrial profits jump 14.4% y/y, rebounding from 4.2% in August

USDAUDCNY

The rebound offers a modest positive surprise for Chinese assets at a time when sentiment is fragile, with onshore equities in a bear market and Morgan Stanley warning of further downside in offshore shares. Industrial and materials stocks are the most direct beneficiaries, and the data may slightly ease concerns about a sharp earnings slowdown.

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What this may mean

Central-bank guidance can quickly change interest-rate expectations, currency volatility, bond yields and risk appetite.

Link to this update
Market analysisMedium impact

China September industrial profits jump 14.4% y/y, rebounding from 4.2% in August

USDAUDCNY

The rebound offers a modest positive surprise for Chinese assets at a time when sentiment is fragile, with onshore equities in a bear market and Morgan Stanley warning of further downside in offshore shares. Industrial and materials stocks are the most direct beneficiaries, and the data may slightly ease concerns about a sharp earnings slowdown.

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What this may mean

Central-bank guidance can quickly change interest-rate expectations, currency volatility, bond yields and risk appetite.

Key points

  • Market context: Mixed / needs confirmation
Link to this update
Economic calendarMedium impact

US PPI Final Demand MoM

USD

US PPI Final Demand MoM was +1.3% for 2026-09, compared with +0.5% previously.

Event time Released
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Actual
+1.3%
Forecast
—
Previous
+0.5%

What this may mean

Producer-price pressure can affect the inflation outlook, interest-rate expectations and the U.S. dollar.

Key points

  • Market context: higher
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Market analysisMedium impact

US Producer Price Index — 2026-09

USD

USD bias is mildly positive using latest-versus-previous official data. Supportive factors: US PPI Final Demand MoM changed from +0.5% to +1.3%, a USD-supportive previous-release comparison. Consensus forecasts are unavailable, so this is not an actual-versus-forecast beat/miss assessment.

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The numbers behind the update

Indicator names follow the English release. Read the summary above for the explanation.

IndicatorActualPreviousUnit
US PPI Final Demand MoM+1.3%+0.5%—

What this may mean

USD may lean stronger initially, but mixed components can limit follow-through.

Key points

  • Supporting: US PPI Final Demand MoM changed from +0.5% to +1.3%, a USD-supportive previous-release comparison.
  • Market context: Mildly Positive
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Economic calendarHigh impact

US CPI MoM

USD

US CPI MoM was +0.6% for 2026-09, compared with +0.4% previously.

Event time Released
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Actual
+0.6%
Forecast
—
Previous
+0.4%

What this may mean

U.S. inflation can change Federal Reserve rate expectations and move the dollar, Treasury yields, gold and equities.

Key points

  • Market context: higher
Link to this update
Economic calendarHigh impact

US Core CPI MoM

USD

US Core CPI MoM was +0.3% for 2026-09, compared with +0.3% previously.

Event time Released
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Actual
+0.3%
Forecast
—
Previous
+0.3%

What this may mean

U.S. inflation can change Federal Reserve rate expectations and move the dollar, Treasury yields, gold and equities.

Key points

  • Market context: unchanged
Link to this update
Market analysisHigh impact

US Consumer Price Index — 2026-09

USD

USD bias is mildly positive using latest-versus-previous official data. Supportive factors: US CPI MoM changed from +0.4% to +0.6%, a USD-supportive previous-release comparison. Consensus forecasts are unavailable, so this is not an actual-versus-forecast beat/miss assessment.

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The numbers behind the update

Indicator names follow the English release. Read the summary above for the explanation.

IndicatorActualPreviousUnit
US CPI MoM+0.6%+0.4%—
US Core CPI MoM+0.3%+0.3%—

What this may mean

USD may lean stronger initially, but mixed components can limit follow-through.

Key points

  • Supporting: US CPI MoM changed from +0.4% to +0.6%, a USD-supportive previous-release comparison.
  • Market context: Mildly Positive
Link to this update
Economic calendarHigh impact

US Nonfarm Payrolls

USD

Nonfarm payrolls changed by +29K for 2026-09, compared with +133K previously.

Event time Released
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Actual
+29K
Forecast
—
Previous
+133K

What this may mean

U.S. labour-market strength can change growth and Federal Reserve expectations across currencies and risk assets.

Key points

  • Market context: lower
Link to this update
Economic calendarHigh impact

US Unemployment Rate

USD

US Unemployment Rate was 4.2% for 2026-09, compared with 4.1% previously.

Event time Released
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Actual
4.2%
Forecast
—
Previous
4.1%

What this may mean

U.S. labour-market strength can change growth and Federal Reserve expectations across currencies and risk assets.

Key points

  • Market context: higher
Link to this update
Market analysisHigh impact

US Employment Situation — 2026-09

USD

USD bias is mildly negative using latest-versus-previous official data. Conflicting factors: US Nonfarm Payrolls changed from +133K to +29K, a USD-negative previous-release comparison. US Unemployment Rate changed from 4.1% to 4.2%, a USD-negative previous-release comparison. Consensus forecasts are unavailable, so this is not an actual-versus-forecast beat/miss assessment.

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The numbers behind the update

Indicator names follow the English release. Read the summary above for the explanation.

IndicatorActualPreviousUnit
US Nonfarm Payrolls+29K+133K—
US Unemployment Rate4.2%4.1%—

What this may mean

USD may lean weaker initially, but mixed components can limit follow-through.

Key points

  • Conflicting: US Nonfarm Payrolls changed from +133K to +29K, a USD-negative previous-release comparison.
  • Conflicting: US Unemployment Rate changed from 4.1% to 4.2%, a USD-negative previous-release comparison.
  • Market context: Mildly Negative
Link to this update
Economic calendarMedium impact

US JOLTS Job Openings

USD

Job openings were 7.079M for 2026-08, compared with 7.335M previously.

Event time Released
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Actual
7.079M
Forecast
—
Previous
7.335M

What this may mean

Job openings provide a timely signal of labour demand and can influence Federal Reserve policy expectations.

Key points

  • Market context: lower
Link to this update
Market analysisMedium impact

US Job Openings and Labor Turnover — 2026-08

USD

USD bias is mildly negative using latest-versus-previous official data. Conflicting factors: US JOLTS Job Openings changed from 7.335M to 7.079M, a USD-negative previous-release comparison. Consensus forecasts are unavailable, so this is not an actual-versus-forecast beat/miss assessment.

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The numbers behind the update

Indicator names follow the English release. Read the summary above for the explanation.

IndicatorActualPreviousUnit
US JOLTS Job Openings7.079M7.335M—

What this may mean

USD may lean weaker initially, but mixed components can limit follow-through.

Key points

  • Conflicting: US JOLTS Job Openings changed from 7.335M to 7.079M, a USD-negative previous-release comparison.
  • Market context: Mildly Negative
Link to this update
Economic calendarHigh impact

US CPI MoM

USD

US CPI MoM was +0.4% for 2026-08, compared with +0.1% previously.

Event time Released
Read the detailsClose details
Actual
+0.4%
Forecast
—
Previous
+0.1%

What this may mean

U.S. inflation can change Federal Reserve rate expectations and move the dollar, Treasury yields, gold and equities.

Key points

  • Market context: higher
Link to this update
Economic calendarHigh impact

US Core CPI MoM

USD

US Core CPI MoM was +0.3% for 2026-08, compared with +0.2% previously.

Event time Released
Read the detailsClose details
Actual
+0.3%
Forecast
—
Previous
+0.2%

What this may mean

U.S. inflation can change Federal Reserve rate expectations and move the dollar, Treasury yields, gold and equities.

Key points

  • Market context: higher
Link to this update

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