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Market Minutes
Read snapshots of the latest market news
Central banks in focus; diverging currency trends emerge
During the week, monetary policy decisions by several major central banks will be announced. On Wednesday, September 17, the Federal Reserve and the Bank of Canada will present their benchmark rate decisions. Meanwhile, on Thursday 18 and Friday 19 it will be the turn of the Bank of England and the Bank of Japan, respectively.
PPI slows, Fed cut odds rise; gold up
U.S. producer prices undershot expectations, reinforcing signals of cooling demand amid increasingly fragile labor data. Rate-cut odds for September rose, 2-year yields eased, the dollar was mixed, and gold hovered near record highs.
Gold prices hit fresh record as fed rate cut bets build
Gold hits record near $3,660 as weak US jobs data boosts Fed rate-cut bets. Dollar slips, euro pressured by French political turmoil.
ECB expected to pause as fed looks to us inflation data
The European Central Bank (ECB) is widely expected to keep rates unchanged this week, while the Federal Reserve faces growing pressure ahead of key U.S. inflation releases. Global markets remain sensitive to signs of monetary policy shifts, with investors watching Europe, the U.S., and Asia for clues on growth and price dynamics.
U.S. employment consolidates weakness; dollar and bonds correct
U.S. labor data softened across the board—fewer jobs, a higher jobless rate, and slower wage growth. The dollar slipped, equities edged lower, and gold set a new record. CME FedWatch now implies three rate cuts by year-end 2025.
ADP report below expectations; market awaits NFP
The ADP showed softer private hiring alongside higher jobless claims, sharpening the focus on Friday’s payrolls. ISM services surprised to the upside, while crude eased on a surprise inventory build and potential OPEC+ supply.
Ruling against U.S. tariffs sends equities lower; gold hits record highs
U.S. stocks fell after a federal appeals court declared most of President Trump’s tariffs illegal, even as enforcement remains in place pending Supreme Court review. Elevated uncertainty lifted volatility and propelled gold to a fresh all-time high.
European stocks up, China recovers, eyes on job data
European equities advanced after the U.K.–Norway £10 billion defense deal, while China’s stronger PMIs and Alibaba’s cloud-driven outlook lifted risk appetite. Attention now turns to U.S. employment data for clues on the Federal Reserve’s next steps.
Markets correct after core PCE uptick; court ruling clouds Trump tariffs
U.S. and European equities fell as firmer core PCE data stoked concerns that tariffs are feeding into inflation, while a federal appeals court ruling cast doubt over President Donald Trump’s trade program. Risk premia rose across assets as investors weighed a difficult mix of monetary and trade uncertainty.
GDP revision and AI optimism drive U.S. markets higher
A stronger second estimate of U.S. GDP and softer jobless claims helped lift U.S. equities back toward record highs. Investors now await the PCE Price Index for clarity on the Fed’s next steps, while surging AI demand continues to underpin tech sentiment.