- After yesterday’s gains, equity markets are stabilizing in the morning hours, with U.S. and European index futures showing little volatility, moving within a narrow range of -0.05% to +0.05%.
- The key data releases today will be inflation figures from Germany and GDP reading from the United Kingdom, along with the preliminary reading of U.S. consumer sentiment and inflation expectations from the University of Michigan survey.
- The U.S. dollar is down about 0.3%, while gold is up over 0.5% and silver nearly 1.4%. U.S. 10-year Treasury yields have risen more than 2 basis points, climbing above 4.03%. The EUR/USD is trading flat at around 1.173.
- Oil and natural gas futures are down about 0.5%, while volatility in the agricultural commodities market remains very limited. Bitcoin has broken above $115,700, gaining about 1%, while Ethereum has surged more than 2.5%, moving past the $4,500 mark.
- In the Asian session, equities mostly advanced. Shares of Alibaba in China jumped on optimism surrounding the company’s new AI initiatives, while TSMC, SK Hynix, and Samsung also posted gains.
- Yesterday, weekly US jobless claims rose to their highest level since 2021, fuelling expectations that Fed members will cut interest rates during the September 16-17th meeting.
Economic calendar: German CPI and Canadian GDP in focus
BREAKING: Swiss GDP data weaker than expected 📌Spanish CPI above forecats
Consumer spending rises in France; inflation prelim declines📋
EURNOK muted after weak Germany retail sales and Norwegian unemployment
