Economics
France Budget Deficit Widens in Jan-Aug
France’s state budget deficit widened to EUR 159.6 billion in the January-August period from EUR 157.5 billion a year earlier. Expenditure rose 4.4% year-on-year to EUR 362.97 billion, driven mainly by higher debt-servicing costs amid rising interest rates and inflation, increased military spending, and higher public energy service charges (CSPE). Meanwhile, general budget revenue increased […]
by Currency Hedger
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- 21 hours ago
French Construction Downturn Persists
The S&P Global France Construction PMI rose to 39.8 in September 2026 from 37.3 in August, remaining well below the 50 threshold, signaling a continued sector-wide downturn. Commercial construction was once again the weakest segment, posting a steep decline followed by residential construction, while civil engineering activity posted its slowest contraction in eight months. New […]
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- 21 hours ago
Germany Construction Activity Falls at Faster Pace
The S&P Global Germany Construction PMI fell to 43.5 in September 2026 from August’s eight-month high of 48.7. The renewed downturn in housing activity was a key drag, with the sector recording its steepest contraction since December 2024 after showing signs of stabilization in August. Commercial activity also suffered a fresh setback following a brief […]
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- 21 hours ago
Economic Calendar: Retail Sales and Fed Speakers in Focus
Today’s macroeconomic calendar is moderately busy, with several releases that could increase volatility across FX and bond markets. The main focus in Europe will be on eurozone retail sales and the UK Construction PMI. In the afternoon, attention will shift to the US and Canada, with the weekly ADP employment change, trade balance data, the […]
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- 21 hours ago
ECB’s Lane: High inflation due to energy shock is driving hawkish ECB sentiment
European Central Bank (ECB) Chief Economist Philip Lane said in an interview with ANSA, released during the European trading session on Tuesday, that energy shock-led inflationary pressures are key driver to the high interest rates narrative. Comments Energy prices are high but strength of pass-through to the rest of economy remains uncertain. Main driver of […]
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- 22 hours ago
BoJ may indicate underlying inflation is near the 2% target, sources say
The Bank of Japan (BoJ) could indicate later this month that underlying inflation has reached nearly its 2% target, according to three sources familiar with the central bank’s thinking. Such a signal would underscore the BoJ’s willingness to resume raising interest rates in the coming months. While the announcement would be largely symbolic, it could […]
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- 23 hours ago
India Services PMI Revised Downward
The HSBC India Services PMI was revised lower to 55.2 in September 2026 from the preliminary estimate of 55.8, after a final reading of 54.1 in the previous month and below the market forecast of 56.2. Still, it marked the strongest growth in the services sector since June, supported by stronger output growth amid robust […]
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- 24 hours ago
Japan Yield Gains as Takaichi Vows Fiscal Expansion
Japan’s 10-year government bond yield climbed to around 3.12% on Tuesday, staying close to its highest level in three decades as Prime Minister Sanae Takaichi continued to pursue fiscal expansion despite concerns over a weak yen and elevated bond yields. Speaking to parliament, Takaichi pledged to lower the consumption tax on food and promote domestic […]
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- 1 day ago
US 10-Year Yield Holds Near 24-Year High
The US 10-year Treasury yield hovered around 5.32% on Tuesday, remaining near its highest level since 2002 as the global bond selloff persisted amid growing fiscal concerns and stubborn inflation pressures. Selling was also widespread across global bond markets, with French yields climbing to more than two-decade highs as heavy debt burdens and political deadlock […]
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- 1 day ago
European bond market calms, as focus shifts to FX
Key takeaways It’s all about FX on Monday. After bonds and stocks hogged the limelight this year, it is finally the currency market’s time to shine. The euro is in focus, as it drops to a 17-month low, as other markets struggle for direction as we move into the first full trading week of Q4. […]
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- 2 days ago