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France inflation heats up again in October, leaving the ECB caught between a rock and a hard place
EUR
France October preliminary CPI +3.4% vs +3.2% y/y expected Prior +3.1% France October preliminary HICP +3.8% vs +3.6% y/y expected Prior +3.4% French inflation is seen accelerating again in October, as the preliminary estimates show headline annual inflation climbing to its highest since December 2023.
France inflation heats up again in October, leaving the ECB caught between a rock and a hard place
What this may mean
Central-bank guidance can quickly change interest-rate expectations, currency volatility, bond yields and risk appetite.
France inflation heats up again in October, leaving the ECB caught between a rock and a hard place
EUR
France October preliminary CPI +3.4% vs +3.2% y/y expected Prior +3.1% France October preliminary HICP +3.8% vs +3.6% y/y expected Prior +3.4% French inflation is seen accelerating again in October, as the preliminary estimates show headline annual inflation climbing to its highest since December 2023.
France inflation heats up again in October, leaving the ECB caught between a rock and a hard place
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
German import prices surge at fastest pace in nearly four years as energy costs bite
EUR
Germany September import prices +2.1% vs +1.8% m/m expected Prior +1.0% Germany September import prices +10.4% vs +10.3% y/y expected Prior +8.3% Just when Germany thought it had enough economic headaches to deal with, here's another one to add to the pile. This time, the inflation monster is making quite the comeback through the back door.
German import prices surge at fastest pace in nearly four years as energy costs bite
What this may mean
Central-bank guidance can quickly change interest-rate expectations, currency volatility, bond yields and risk appetite.
German import prices surge at fastest pace in nearly four years as energy costs bite
EUR
Germany September import prices +2.1% vs +1.8% m/m expected Prior +1.0% Germany September import prices +10.4% vs +10.3% y/y expected Prior +8.3% Just when Germany thought it had enough economic headaches to deal with, here's another one to add to the pile. This time, the inflation monster is making quite the comeback through the back door.
German import prices surge at fastest pace in nearly four years as energy costs bite
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
France's economy contracts in Q3 as growth troubles pile up for the ECB
EUR
France Q3 preliminary GDP -0.1% vs +0.1% q/q expected Prior 0.0% France Q3 preliminary GDP % vs +0.3% y/y expected Prior +0.5% Ouch. That's a notable miss as French GDP shrinks in Q3 this year.
France's economy contracts in Q3 as growth troubles pile up for the ECB
What this may mean
Central-bank guidance can quickly change interest-rate expectations, currency volatility, bond yields and risk appetite.
France's economy contracts in Q3 as growth troubles pile up for the ECB
EUR
France Q3 preliminary GDP -0.1% vs +0.1% q/q expected Prior 0.0% France Q3 preliminary GDP % vs +0.3% y/y expected Prior +0.5% Ouch. That's a notable miss as French GDP shrinks in Q3 this year.
France's economy contracts in Q3 as growth troubles pile up for the ECB
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
What is spooking markets as stocks, Treasury yields and gold all fall ahead of European trading?
USD
It looks like Halloween is coming a day early for markets with investors getting quite the fright already as we look to wrap up the trading week. Both stocks and Treasury yields are falling together, with gold also struggling to catch a bid.
What is spooking markets as stocks, Treasury yields and gold all fall ahead of European trading?
What this may mean
Inflation developments can change the expected path of interest rates and therefore affect currencies, bonds, equities and gold.
What is spooking markets as stocks, Treasury yields and gold all fall ahead of European trading?
USD
It looks like Halloween is coming a day early for markets with investors getting quite the fright already as we look to wrap up the trading week. Both stocks and Treasury yields are falling together, with gold also struggling to catch a bid.
What is spooking markets as stocks, Treasury yields and gold all fall ahead of European trading?
What this may mean
Inflation developments can change the expected path of interest rates and therefore affect currencies, bonds, equities and gold.
Key points
- Market context: Mixed / needs confirmation
Asia-Pacific market news: Binance hack shakes crypto
USDEURJPYAUDCNY
BoJ declares underlying inflation at 2% target, lifts FY2027 price forecast as rates held BoJ keeps policy rate unchanged at 1.25%, as expected (Some good news!) Treasuries rally as AI selloff drives flight to safety, 10-year yield at one-month low Amazon and Intel results deepen worries over AI boom costs as tech, chip stocks slide PBOC sets USD/ CNY reference rate for toda...
Asia-Pacific market news: Binance hack shakes crypto
What this may mean
Central-bank guidance can quickly change interest-rate expectations, currency volatility, bond yields and risk appetite.
Asia-Pacific market news: Binance hack shakes crypto
USDEURJPYAUDCNY
BoJ declares underlying inflation at 2% target, lifts FY2027 price forecast as rates held BoJ keeps policy rate unchanged at 1.25%, as expected (Some good news!) Treasuries rally as AI selloff drives flight to safety, 10-year yield at one-month low Amazon and Intel results deepen worries over AI boom costs as tech, chip stocks slide PBOC sets USD/ CNY reference rate for toda...
Asia-Pacific market news: Binance hack shakes crypto
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
(Some good news!) Treasuries rally as AI selloff drives flight to safety, 10-year yield at one-month low
USDEURJPYAUDNZD
Lower Treasury yields ease financing costs across the curve, offering some relief to rate-sensitive sectors and to the AI firms whose borrowing has worried investors. That makes the bond rally partly self-correcting for the very stress that triggered it.
(Some good news!) Treasuries rally as AI selloff drives flight to safety, 10-year yield at one-month low
What this may mean
Central-bank guidance can quickly change interest-rate expectations, currency volatility, bond yields and risk appetite.
(Some good news!) Treasuries rally as AI selloff drives flight to safety, 10-year yield at one-month low
USDEURJPYAUDNZD
Lower Treasury yields ease financing costs across the curve, offering some relief to rate-sensitive sectors and to the AI firms whose borrowing has worried investors. That makes the bond rally partly self-correcting for the very stress that triggered it.
(Some good news!) Treasuries rally as AI selloff drives flight to safety, 10-year yield at one-month low
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
Bitcoin, cryptocurrency prices fall after Binance reports security issue
Bitcoin, cryptocurrency prices fall after Binance reports security issue
Bitcoin, cryptocurrency prices fall after Binance reports security issue
What this may mean
The development may affect the tagged currencies or assets as markets reassess growth, policy or risk expectations.
Bitcoin, cryptocurrency prices fall after Binance reports security issue
Bitcoin, cryptocurrency prices fall after Binance reports security issue
Bitcoin, cryptocurrency prices fall after Binance reports security issue
What this may mean
The development may affect the tagged currencies or assets as markets reassess growth, policy or risk expectations.
Key points
- Market context: Mixed / needs confirmation
Japan September factory output beats forecasts, but retail sales disappoint ahead of BoJ
JPY
The data give the BoJ evidence on both sides, so the reaction in the yen and Japanese government bonds is likely to be modest ahead of the policy decision and Outlook Report later in the day. Stronger output and upbeat production plans support Japanese industrials and exporters.
Japan September factory output beats forecasts, but retail sales disappoint ahead of BoJ
What this may mean
Central-bank guidance can quickly change interest-rate expectations, currency volatility, bond yields and risk appetite.
Japan September factory output beats forecasts, but retail sales disappoint ahead of BoJ
JPY
The data give the BoJ evidence on both sides, so the reaction in the yen and Japanese government bonds is likely to be modest ahead of the policy decision and Outlook Report later in the day. Stronger output and upbeat production plans support Japanese industrials and exporters.
Japan September factory output beats forecasts, but retail sales disappoint ahead of BoJ
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
Tokyo October CPI 2.8% (2.7% expected)
JPY
Tokyo CPI, October (y/y) Headline: 2.8% vs. 2.7% expected (prior 2.7%) Core (ex fresh food): 2.6% vs.
Tokyo October CPI 2.8% (2.7% expected)
What this may mean
Inflation developments can change the expected path of interest rates and therefore affect currencies, bonds, equities and gold.
Tokyo October CPI 2.8% (2.7% expected)
JPY
Tokyo CPI, October (y/y) Headline: 2.8% vs. 2.7% expected (prior 2.7%) Core (ex fresh food): 2.6% vs.
Tokyo October CPI 2.8% (2.7% expected)
What this may mean
Inflation developments can change the expected path of interest rates and therefore affect currencies, bonds, equities and gold.
Key points
- Market context: Mixed / needs confirmation
Americas market news wrap: ECB holds, sources report says December hike
USDEURGBPAUD
Iran's Ghalibaf: Progress can only be achieved once the seven conditions have been agreed upon Trump: Iran war will be over very soon.
Americas market news wrap: ECB holds, sources report says December hike
What this may mean
Central-bank guidance can quickly change interest-rate expectations, currency volatility, bond yields and risk appetite.
Americas market news wrap: ECB holds, sources report says December hike
USDEURGBPAUD
Iran's Ghalibaf: Progress can only be achieved once the seven conditions have been agreed upon Trump: Iran war will be over very soon.
Americas market news wrap: ECB holds, sources report says December hike
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
Dollar dips and euro rises after Fed, ECB rate decisions; pound extends gains
USDEURGBP
Dollar dips and euro rises after Fed, ECB rate decisions; pound extends gains
Dollar dips and euro rises after Fed, ECB rate decisions; pound extends gains
What this may mean
Central-bank guidance can quickly change interest-rate expectations, currency volatility, bond yields and risk appetite.
Dollar dips and euro rises after Fed, ECB rate decisions; pound extends gains
USDEURGBP
Dollar dips and euro rises after Fed, ECB rate decisions; pound extends gains
Dollar dips and euro rises after Fed, ECB rate decisions; pound extends gains
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
Trump: Iran war will be over very soon. Senator warns of 'insane' US plans
USD
Trump has said this at least 100 times since the war started in late February. He is an improviser, not a planner.
Trump: Iran war will be over very soon. Senator warns of 'insane' US plans
What this may mean
Energy-market changes can affect inflation expectations, commodity currencies, transport costs and broader risk sentiment.
Trump: Iran war will be over very soon. Senator warns of 'insane' US plans
USD
Trump has said this at least 100 times since the war started in late February. He is an improviser, not a planner.
Trump: Iran war will be over very soon. Senator warns of 'insane' US plans
What this may mean
Energy-market changes can affect inflation expectations, commodity currencies, transport costs and broader risk sentiment.
Key points
- Market context: Mixed / needs confirmation
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