Weekly jobless claims hold steady near expectations
US weekly jobless claims came in at 206,000, near the 205,000 estimate, with continuing claims slightly below expectations.
US weekly jobless claims came in at 206,000, near the 205,000 estimate, with continuing claims slightly below expectations.
US August PPI came in at 5.4% annually, slightly above the 5.3% forecast, with dollar strengthening on the data.
Oil and Treasury yields climbed, gold slipped and European equities edged higher as investors awaited the ECB decision and US CPI.
Rising oil prices above $100 push bond yields higher as inflation concerns persist, with central banks facing increasing pressure.
Markets see high odds the ECB, Bank of Japan and Federal Reserve all raise rates this month, with the Fed's decision hinging on Friday's CPI report.
Rising oil prices due to the Iran conflict are driving long-term bond yields higher, overshadowing other influences.
EUR/USD has erased most losses from Warsh's hawkish speech ahead of the ECB rate decision, with the US CPI also in focus.
Bitcoin sits near $78,257 after slipping below $80,000; selling pressure has eased, but spot demand and liquidity remain thin even as ETF inflows persist.
Gold continues to be the main expression of the debasement trade, while Bitcoin lags due to its sensitivity to liquidity and risk appetites.
ECB expected to hike 25bps to 2.50%, fully priced in. Focus on Lagarde's tone and updated projections amid energy shock.
European stocks opened slightly higher on Thursday as markets await the ECB's expected 25 bps rate hike.
The ECB is expected to raise rates by 25 bps to 2.50%, with analysts divided on whether this marks the peak or another hike in December.
Germany's final August CPI confirmed 2.9% y/y, as energy price inflation surged 10.5%.
The US Treasury tripled its bond buyback to $6 billion, but 10-year yields remain near 4.85% as expectations were for a larger intervention and inflation…
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