Germany, + 45.8% September production prices
Producer prices for industrial products in Germany increased by 45.8% on an annual basis and 2.3% on a monthly basis in September. This was announced by Destatis, the German Federal Statistical Office, adding that overall energy prices increased by 132.2% compared to September 2021. The sharp rise in energy prices is mainly due to the sharp increases in natural gas prices. (distribution), up by 192.4%, and electricity (+ 158.3%)
Yen on the lows since 1990 against the dollar below 150
The yen weakens to its lowest level since 1990 against the dollar and falls below 150. Thus, according to the market, the chances of another intervention by the Japanese authorities increase, which they have already underlined in recent days to follow closely. the trend of the Japanese currency.
Asia. Hong Kong on the lowest level since 2009. Tokyo closes in red
Stocks fell and yields rose in Asia on fears that high inflation and aggressive monetary policy would further slow the global economy. Equity markets fell in Japan, Australia and China, with the Hong Kong index rising. started towards the lowest close since 2009, the year of the financial crisis. Fears of slowing growth and rising Covid cases in China are increasing investor concerns as the party’s congress is underway. The yuan it was trading around a new all-time low.
Closing down for the Tokyo Stock Exchange which has failed to consolidate the positive trend of the last two sessions, weighed down by the weakness of the high tech sector. At the end of the day, the Nikkei index lost 0.92% to 27.006.96 points. The broader Topix index also fell, with a final position down by 0.51% on the previous benchmark at 1,895.41 points. Meanwhile, the ten-year yield it again went beyond the upper limit of 0.25% of the central bank’s target range, prompting it to announce emergency bond purchases to contain the phenomenon. There BoJ entered the market to buy long-term bonds worth 250 billion yen (1.67 billion dollars) in an attempt to slow the rate of yields. However, this attempt was unsuccessful: rates have in fact risen to their highest levels since 2015.
Busy day in the US
Then the data will come from the United States. First of all, the weekly one on unemployment benefits: given that the resilience of the labor market is a key ingredient for the Federal Reserve’s rate choices, this indicator could move the markets. Then, again from the United States, will come the existing home sales, the leading index and the Philadelphia Fed index. Speeches by many members of the US central bank are also expected: Bullard, Jefferson, Cook and Bowman.
