📉 Labor market weakness and rising inflation data impacting Federal Reserve decisions
📈 Inflation rate increased 0.2% in September, 2.4% year-on-year
🇯🇵 Bank of Japan Deputy Governor comments supporting rate hikes affecting dollar’s strength
💶 Euro dropped against the dollar to lowest level since August
🇺🇸 Greenback measured against key rivals slightly up to 102.96 in volatile trading
💵 Traders betting on Fed cutting rates by 25 basis points at next policy decision
📉 2-year note yield fell due to concerns about employment story
🇦🇺 Risk-sensitive Australian dollar up due to equity rally in China and launch of swap program
💰 Bitcoin and Ethereum prices declined in cryptocurrency market
⬇️ Data showed the consumer price index grew 0.2% in September, but year-on-year rise was smallest
📉 Dollar index down by 0.09% to 102.780
📈 Dollar was at 148.50 yen after rising to 149.58 yen
🏦 Bank of Japan Deputy Governor’s comments on rate hikes keeping dollar weaker against yen
🌍 Euro dropped against the dollar, while the dollar weakened against the Swiss franc
💱 Dollar index slightly up against key rivals like yen, sterling, and euro
📊 Traders expect 85% chance of Fed cutting rates in November, with slight chance of no change
🔗 News conference expected on fiscal policy in China may impact markets
📊 Bitcoin and Ethereum cryptocurrency prices declined
💼 European equities struggled on Thursday due to US inflation data anticipation
📉 FTSE 100 and FTSE 250 indices experienced slight declines during the trading session
📈 Equities in China ended the day in the green despite being off session highs
💸 China’s finance officials are expected to unveil fiscal stimulus measures to boost the economy
📅 US inflation reading awaited at 1330 BST, with expectations of a decline to 2.3%
🏛 UK Chancellor may need to raise up to GBP25 billion from tax increases to balance the budget
💊 GSK rose 5.2% after agreeing to pay up to USD2.2 billion to settle cases related to Zantac
💰 Tritax EuroBox surged 2.3% after backing a takeover bid from Brookfield and withdrawing from Segro offer
💳 Liontrust Asset Management reported net outflows easing up to GBP1.14 billion in the second quarter
📈 Gold and Brent prices saw gains in the commodity market
Federal Reserve and Market Impact
Labor market weakness and rising inflation data are impacting the Federal Reserve’s decisions, leading traders to bet on a 25 basis point rate cut at the next policy meeting.
Recent interest rate cuts by the Fed signal a priority on employment over inflation, with a focus on balancing the two factors.
Currency Market Movements
The Dollar slipped against the yen on Thursday, influenced by various factors such as labor market weakness and a slight increase in consumer prices.
The Euro dropped against the Dollar to its lowest level since August, while the Dollar also weakened against the Swiss franc.
Traders are expecting the Fed to cut rates in November, with the Dollar index showing slight fluctuations against key rivals.
The Greenback measured against key rivals was slightly up in volatile trading, while the Bank of Japan Deputy Governor’s comments on rate hikes kept the Dollar weaker against the yen.
Cryptocurrency and Commodity Market Updates
Bitcoin and Ethereum prices declined in the cryptocurrency market, while Gold and Brent prices saw gains in the commodity market.
Market Developments
The Risk-sensitive Australian dollar rose due to an equity rally in China and the launch of a swap program.
European equities struggled on Thursday amidst anticipation of US inflation data, with the FTSE 100 and FTSE 250 indices experiencing slight declines during the trading session.
Equities in China ended the day in the green despite being off session highs, with China’s finance officials expected to unveil fiscal stimulus measures to boost the economy.
UK Chancellor may need to raise up to GBP25 billion from tax increases to balance the budget, while various companies like GSK, Tritax EuroBox, and Liontrust Asset Management saw stock movements based on different factors.
Upcoming Events
A news conference on fiscal policy in China is expected, which may have an impact on the markets.
The US inflation reading is awaited at 1330 BST, with expectations of a decline to 2.3%.