Market News
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CEE FX: Global headwinds pressure currencies – ING
ING’s EMEA FX & FI Strategist Frantisek Taborsky highlights that stronger regional hawkish repricing has not prevented rate differentials from narrowing or staying flat, leaving Central and Eastern European (CEE) currencies vulnerable as the Dollar rallies and global energy prices rebound.
Sweden Riksbank Interest Rate Decision meets forecasts (1.75%)
Sweden Riksbank Interest Rate Decision meets forecasts (1.75%)
Switzerland SNB Interest Rate Decision in line with forecasts (0%)
Switzerland SNB Interest Rate Decision in line with forecasts (0%)
Euro remains depressed amid strong US macroeconomic data and higher Oil prices
The Euro (EUR) licks its wounds against the US Dollar (USD) on Thursday, trading around 1.1380, near the lowest level of the last two months, after falling nearly 2% in less than two weeks.
Swedish Krona: Riksbank seen holding but keeping hike option – Commerzbank
Commerzbank’s Antje Praefcke expects the Riksbank to leave its policy rate at 1.75% while continuing to signal a possible hike by year-end. Despite very low current inflation, projections show price pressures rising again as temporary tax cuts expire and energy prices stay high.
USD/CAD Price Forecast: Gains ground to near 1.4100, holding bullish bias above 100-day SMA
The USD/CAD pair trades in positive territory around 1.4100 during the early European trading hours on Thursday.
Equities: global indices under pressure – Deutsche Bank
Deutsche Bank notes a broad setback in global equities, with the S&P 500, NASDAQ and Russell 2000 all posting notable declines despite stronger growth data.
Swiss Franc: Franc weakness seen slowing near 0.95 against Euro – Commerzbank
Commerzbank’s Michael Pfister highlights notable Swiss Franc weakness since July, with EUR/CHF approaching 0.95 as markets price more European Central Bank (ECB) tightening than from the Swiss National Bank (SNB).
France Business Climate in Manufacturing came in at 101, below expectations (102) in September
France Business Climate in Manufacturing came in at 101, below expectations (102) in September
France Consumer Confidence above forecasts (85) in September: Actual (86)
France Consumer Confidence above forecasts (85) in September: Actual (86)
USD/JPY Price Forecast: Testing 200-day SMA amid strong US data, higher yields
The US Dollar (USD) consolidates gains against the Japanese Yen (JPY) on Wednesday, with bulls pushing against the key 200-day Simple Moving Average (SMA), at 158.47.
Euro: Dollar strengthens against EUR after hot US PMIs – Danske Bank
Danske Bank’s Danske Research Team notes that strong US PMIs and hawkish Federal Reserve pricing weighed on EUR/USD. The composite PMI rose sharply, driving expectations for another Fed rate hike in October and pulling EUR/USD below 1.14.
ECB's Kocher says must prevent too high inflation, becoming entrenched
European Central Bank (ECB) Governing Council member Martin Kocher said on Thursday that the central bank must prevent too high inflation from becoming entrenched.