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Equities: AI concerns pressure stocks as futures rise – Deutsche Bank
Deutsche Bank strategists report that the S&P 500 fell for a second day, dragged by the Magnificent 7 and chip stocks after an FT story suggested OpenAI’s annualised revenue is nearer $50bn than $70bn.
Turkey Industrial Production (YoY) came in at -1.9% below forecasts (0%) in August
Turkey Industrial Production (YoY) came in at -1.9% below forecasts (0%) in August
Slovakia Industrial Output (YoY) down to -0.2% in August from previous 2.4%
Slovakia Industrial Output (YoY) down to -0.2% in August from previous 2.4%
Austria Industrial Production (YoY) up to -0.5% in August from previous -1.1%
Austria Industrial Production (YoY) up to -0.5% in August from previous -1.1%
Canadian Dollar gathers strength ahead of employment report
The USD/CAD pair declines to around 1.4220 during the early European trading hours on Friday. The Canadian Dollar (CAD) strengthens against the US Dollar (USD) as the gap between US and Canadian yields narrowed from the historically wide levels seen earlier in ‌the week.
Forex Today: US Dollar retreats alongside bond yields as mood improves
Here is what you need to know on Friday, October 9:
Indonesian Rupiah strengthens as Retail Sales expand in August
USD/IDR loses ground after two days of gains, trading around 17, 910 during Asian hours on Friday. The Indonesian Rupiah (IDR) remains stronger following the release of domestic Retail Sales data.
British Pound: Resilient growth supports more BoE hikes - Commerzbank
Volkmar Baur at Commerzbank highlights the UK economy’s resilient growth, with upward revisions to GDP and solid monthly data. With inflation still sticky and core inflation at 2.6%, he now expects the Bank of England to hike rates in November and again in February to 4.25%.
Euro picks up against British Pound with French debt, Oil prices still weighing
The Euro (EUR) trims losses against the British Pound (GBP) on Friday, as the bond rout eased, allowing for a mild risk appetite during the Asian session.
Euro: Recovery capped by resistance against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann highlight that EUR/USD has bounced off recent lows near 1.1164 but downside momentum remains lacklustre. The Euro’s recovery is seen as constrained within 1.1190–1.1240 intraday, while the broader 1–3 week view still allows for a test of 1.1145 as long as strong resistance at 1.1265 holds and the oversold downtrend phase persists.
Sweden New Orders Manufacturing (YoY) increased to 5.1% in August from previous -0.5%
Sweden New Orders Manufacturing (YoY) increased to 5.1% in August from previous -0.5%
Sweden Industrial Production Value (YoY) climbed from previous 0.2% to 5.8% in August
Sweden Industrial Production Value (YoY) climbed from previous 0.2% to 5.8% in August
Sweden Industrial Production Value (MoM) up to 5.4% in August from previous -3.6%
Sweden Industrial Production Value (MoM) up to 5.4% in August from previous -3.6%