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ECB’s Schnabel says yields surge could cool inflation pressures
European Central Bank (ECB) Governing Council member Isabel Schnabel said Wednesday that high costs are passed through to consumers more quickly when the economy is resilient.
Russia Unemployment Rate meets forecasts (2.2%) in August
Russia Unemployment Rate meets forecasts (2.2%) in August
Australian Dollar reverses post-PCE rebound as US Dollar recovers
AUD/USD declines 0.41% on Wednesday and trades around 0.6960 at the time of writing, having fully erased its initial rebound following the release of softer-than-expected United States (US) inflation data.
British Pound catches second wind as soft PCE knocks Fed hike bets
The Pound Sterling (GBP) posts solid gains versus the US Dollar (USD) on Wednesday, edging up 0.42% as the latest US inflation figures were below estimates, reaffirming New York Federal Reserve (Fed) President John Williams' comments that the Fed is in no rush to tighten monetary policy.
Colombia National Jobless Rate rose from previous 8.1%Â to 9.1% in August
Colombia National Jobless Rate rose from previous 8.1%Â to 9.1% in August
United States EIA Gasoline Stocks Change increased to -1.684M in September 25 from previous -1.686M
United States EIA Gasoline Stocks Change increased to -1.684M in September 25 from previous -1.686M
China: Targeted support and cautious stabilization signs – Societe Generale
Societe Generale analysts note China has unveiled targeted support measures, including a 25bp cut to the PBoC’s PSL rate and expanded relending quotas for innovation, technology, agriculture and small businesses.
EUR/USD: Measured ECB tightening to support Euro – TD Securities
TD Securities' Macro Research team expects the European Central Bank (ECB) to continue a measured tightening cycle, delivering a final 25bp hike in December and taking the deposit rate to 2.75%, which they see as mildly restrictive.
Japanese Yen advances as US PCE shifts Fed rate hike bets toward December
USD/JPY falls 0.30% on Wednesday and trades around 156.80 at the time of writing, as the US Dollar (USD) comes under selling pressure following softer-than-expected United States (US) inflation data.
United States Chicago PMI came in at 58.8, above expectations (51.2) in September
United States Chicago PMI came in at 58.8, above expectations (51.2) in September
China: PMIs point to manufacturing and services improvement – Deutsche Bank
Deutsche Bank’s Early Morning Reid notes that China’s latest PMI data show a broad-based pickup in activity. The private-sector RatingDog Manufacturing PMI and official manufacturing PMI both strengthened, with the latter returning to expansion. Services and non-manufacturing indices also improved, lifting the composite PMI above 50 and signaling a more supportive backdrop for Chinese equities and growth.
Canadian Dollar gains as US inflation cools Fed October rate hike bets
USD/CAD declines 0.08% on Wednesday and trades around 1.4180 at the time of writing, after touching a daily low of 1.4155 in the wake of US inflation data. The pair recovered some losses as investors reassessed the timing of a potential further tightening by the Federal Reserve (Fed).
EUR/GBP: Range set to persist – Rabobank
RaboResearch Global Economics & Markets’ FX Strategy team assesses EUR/GBP in light of UK politics, growth and monetary policy. They note the Pound’s recent support from stronger UK GDP, but expect GBP bulls to stay cautious ahead of the October 28 budget.