🌍 Energy-driven inflation is the story: Strait of Hormuz disruptions pushed August Eurozone inflation to 3.3%, and the ECB is set to hike rates 25bp today (decision 15:15 GMT+3). US PPI (15:30 GMT+3) and existing home sales (17:00 GMT+3) round out a heavy data day.
Asia
🇯🇵 Nikkei 225: ~64,510, -1.0% (today's session) – pressured by high oil prices
🇭🇰 Hang Seng: ~25,240, -0.3% (Wed close, today's session still running)
🇨🇳 Shanghai Composite: ~3,952, +0.3% (Wed close, today's session still running)
🇰🇷 KOSPI: ~7,052, +1.4% (Wed close, today's session still running) – chip stocks led gains
FX
💶 EUR/USD: ~1.1635 – capped near 1.1700 ahead of the ECB's expected hike to 2.5% (deposit rate) 🦅
💷 GBP/USD: above 1.3550 – BoE hike bets and 5%+ gilt yields keep sterling supported
💴 USD/JPY: stabilizing above 153.50 – yen near a 7-month high on hawkish BoJ repricing
Commodities
🥇 Gold: $4,409/oz, +0.25% – holding near record highs into US inflation data
🛢️ Brent: ~$101/bbl, -0.2% – minor pullback, still elevated on Hormuz risk
🔑 Today's Focus: ECB decision & press conference, US PPI (y/y forecast 5.3% vs. 4.7% prior), US existing home sales – expect volatility in EUR, oil and gold through the European afternoon.
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