Euro zone slowdown deepens as inflation stays sticky, vexing ECB
October PMI data show euro area growth cooling while inflation remains elevated, complicating ECB rate path.
58 min ago6 min read
Fed's Waller downplays rate hike bets; yen surges
Waller signaled no hurry to raise rates; yen jumped on suspected intervention.
03/09/2026 21:414 min read
- Gold climbed $86 to $4472
- US 10-year yields declined 2 bps to 4.77%
- WTI crude oil rose $0.66 to $91.87
- S&P 500 gained 1.05%
- JPY led, USD lagged
Federal Reserve Governor Christopher Waller dominated Thursday's trading after indicating he was not prepared to raise rates and would require CPI figures before deciding.
Investors interpreted that as reflecting the broader FOMC view, reducing September rate hike probabilities to 50/50.
Waller played down the employment data, though he noted an unexpected result might alter his stance.
His primary focus remains on upcoming inflation figures, guaranteeing that this month's CPI release will be a key market driver.
A yen surge also caught attention, with intervention widely suspected.
The USD/JPY pair slid steadily from early trading, dropping from 159.00 to a low of 155.30, before buyers lifted it by 50 pips.
This development bears watching, as the usual confirmation of intervention is missing and the move was not entirely linear.
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