Germany industrial production MoM: -0.8% vs -0.7% exp. and 1.8% previously
- Germany industrial production YoY: -0.8% vs -1% exp. and 0.88% previously
Germany Trade Balance: 13.1B EUR vs 16.4B exp. and 16.9B previously
- Exports: -2,5% vs -0,2% and -0,1% previously
- Imports: 0,8% vs 0,3% exp. and -1,2% previously
Norwegian CPI came in at 3.2% YoY vs 2.9% and 3% previously (0,1% MoM)
EURNOK reacted with a decline to weak Germany macro data with falling exports and totally unexpected, much higher CPI from Norway (but monthly dynamic is still muted)
Source: xStation5
Russia is selling off gold reserves. Why, to whom, and does it matter for the market?
BREAKING: US oil inventories fall more than expected, but distillate build cools enthusiasm
Economic calendar: EIA oil report and US treasury auction in focus 🔎
Morning Wrap (21.10.2026)