Risk-Off Sentiment Returns as Oil, Yields Climb in Europe
Eurozone inflation matched expectations at 3.3%, while oil and yield gains triggered risk-off moves in risk assets.
Eurozone inflation matched expectations at 3.3%, while oil and yield gains triggered risk-off moves in risk assets.
Bitcoin fell after Fed Chair Warsh's hawkish speech at Jackson Hole. Traders now watch for a breakout of the 77K-80K range.
Eurozone annual inflation rose to 3.3% in August, driven by energy prices, while core inflation eased to 2.4%.
Eurozone August CPI meets forecast at 3.3% y/y; core inflation eases more than expected to 2.4%. Energy costs jump 14.3%.
Eurozone final manufacturing PMI came in at 52.7 in August, with Germany posting its strongest growth in over four years. Inflation pressures eased further.
Germany's final August manufacturing PMI came in at 54.3, above the preliminary 54.1 and prior 52.2.
France's final manufacturing PMI for August came in at 51.1, below the flash estimate but above July's 49.8, indicating a mild rebound in activity.
Italy's manufacturing PMI fell to 49.6 in August, below the 51.3 expected and the prior reading.
Gold dropped 5.5% from a three-month high, but Goldman Sachs still forecasts 10% upside to $4,900 by year-end.
German retail sales fell 3.4% month-on-month in July, missing expectations, as fuel discounts ended.
UK house prices rose 0.2% in August, but annual growth slowed to 1.6%. The market remains tepid amid economic uncertainty.
Ethereum futures hold above VWAP at $2,477.70, with bulls maintaining a mild edge but facing resistance near $2,500.
Eurozone August headline inflation expected to rise to 3.3%, core steady at 2.5%. ECB seen hiking rates.
Westpac expects a consensus 25bp RBNZ hike to 2.75% on 2 September, with a data-dependent stance on further moves.
China's private manufacturing PMI rose to 51.5 in August, beating expectations and marking the ninth consecutive month of expansion, the longest in five…