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Breaking: US core PCE inflation stays unchanged at 3% in August vs. 3.3% expected
Annual inflation in the United States (US), as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, held steady at 3.4% in August, the US Bureau of Economic Analysis (BEA) reported on Wednesday.
Breaking: United States private sector employment rises by 90K in September vs. 70K expected
Employment in the United States' (US) private sector increased by 90K in September, the Automatic Data Processing (ADP) reported on Wednesday. This reading followed the 36K increase recorded in August (revised from 38K) and came in better than the market expectation of 70K.
TRY: Inflation and easing threaten Lira – Commerzbank
Commerzbank’s Tatha Ghose notes USD/TRY has broken above 49.0, continuing a pattern of defended levels being breached in step-jumps. He downplays the broader systemic impact of a Turkish stock market scandal and instead highlights surging fuel-driven inflation and the prospect of CBT rate cuts. Ghose warns that an easing cycle in an inflation-vulnerable economy is the key risk for the Lira.
US Dollar: Strength persists on higher yields – ING
ING strategists Francesco Pesole, Frantisek Taborsky and Chris Turner note the US Dollar remains strong despite softer US data, as rising long-dated US yields weigh on global risk sentiment and support the currency.
Euro remains depressed near yearly lows amid soft German data
The Euro (EUR) has trimmed some losses against the US Dollar (USD) on Wednesday but remains on the defensive, as data from the Eurozone fails to inspire, while France's ballooning debt starts to raise eyebrows.
New Zealand Dollar gains as US Dollar declines on easing Fed rate hike bets
NZD/USD gains ground after registering losses in the previous day, trading around 0.5650 during the European hours on Wednesday. The pair gains upward momentum as the US Dollar (USD) weakens following dovish remarks from Federal Reserve Bank of New York President John Williams.
Japanese Yen trims part of intraday gains vs retreating USD as traders await US PCE data
The USD/JPY pair recovers a few pips from a one-and-a-half-week low, touched earlier this Wednesday, and trades just below the 157.00 mark during the first half of the European session, still down around 0.25% for the day.
Brent: Geopolitics and cracks drive Q3 surge – Rabobank
Rabobank highlights a sharp Q3 rally in Brent Oil, rising from $73 to $104, with the 3-2-1 crack spread jumping from $17 to $62. The effective move from $90 to $166 underscores tightening energy markets.
Euro: EUR/USD risk reversal long setup – TD Securities
TD Securities' Macro Research Insight recommends going long EUR/USD via a three-month zero-cost risk reversal, buying a 1.1610-strike call and selling a 1.11-strike put.
Germany Hesse CPI (YoY) climbed from previous 3% to 3.4% in September
Germany Hesse CPI (YoY) climbed from previous 3% to 3.4% in September
Germany Hesse CPI (YoY) remains unchanged at 3% in September
Germany Hesse CPI (YoY) remains unchanged at 3% in September
Germany Hesse CPI (MoM) up to 0.5% in September from previous 0.3%
Germany Hesse CPI (MoM) up to 0.5% in September from previous 0.3%
Germany Baden-Wuerttemberg CPI (MoM): 0.6% (September) vs 0.1%
Germany Baden-Wuerttemberg CPI (MoM): 0.6% (September) vs 0.1%