Global markets experienced significant volatility today following the election of a hawkish leader in Japan, an unexpected drop in inflation for France and Spain, and revived speculation about a merger between Stellantis and Renault. Japanese Yen strengthened sharply after Ishiba's victory, while Nikkei futures plummeted. Meanwhile, the ECB's dovish stance amid weakening inflation data fueled bets on further rate cuts.
Notes/observations - Japan LDP party elects hawkish former defense min Ishiba as its new leader ; Previously expressed support for BOJ rate hikes. Ishiba won in knockout round against dovish Takaichi. Japan ese Yen heavily strengthened, moving USD/JPY to 143 from 146.4 earlier. Nikkei futures down >1000 points since cash close.
- Denmark Aug Retail Sales M/M: +0.4% v -0.1% prior; Y/Y: 3.1% v 3.7% prior. - Hungary Aug Unemployment Rate: 4.2% v 4.2%e. - France Sept Preliminary CPI M/M: -1.2% v -0.7%e; Y/Y: 1.2% v 1.6%e. - France Sept Preliminary CPI EU Harmonized M/M: -1.2% v -0.8%e; Y/Y: 1.5% v 1.9%e. - France Aug PPI M/M: 0.2% v 0.3% prior; Y/Y: -6.3% v -5.7% prior. - France Aug Consumer Spending M/M: +0.2% v -0.1%e; Y/Y: 0.0% v -0.6%e. - Spain Q2 Final GDP Q/Q: 0.8% v 0.8% prelim; Y/Y: 2.9% v 2.9% prelim.
Japan LDP BOJ Inflation ECB Stellantis Renault Yen US Markets
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ECB's Makhlouf: ECB is not pre-committing to a particular rate pathEuropean Central Bank (ECB) Governing Council member and Central Bank of Ireland Governor Gabriel Makhlouf said on Friday that the ECB continues to operate in a 'highly uncertain environment,' and will remain data-dependent when it comes to making future monetary policy decisions.
Read more »
Stellantis Faces Lawsuit For Alleged Costly Steering Flaw In Ram 1500The NHTSA launched a probe in August 2023 after spotting a discrepancy between power steering recalls and consumer complaints
Read more »
The Ups & Downs Of The Electric Car Transition At StellantisIn Europe, Stellantis will stop producing the Fiat 500e for one month due to slow sales while it rampa up EV production in the US.
Read more »
Stellantis to invest $406 million at 3 factories, a step toward meeting commitments in UAW contractStellantis will spend $406 million retooling three Michigan factories so they can build electric vehicles or battery parts. The company’s announcement Wednesday is a step toward meeting commitments it made in a new contract with the United Auto Workers. An assembly plant in Sterling Heights, Michigan, north of Detroit, will get $235.
Read more »
Stellantis to invest $406 million at 3 factories, a step toward meeting commitments in UAW contractStellantis will spend $406 million retooling three Michigan factories so they can build electric vehicles or battery parts.
Read more »
Stellantis to invest $406 million at 3 factories, a step toward meeting commitments in UAW contractStellantis will spend $406 million retooling three Michigan factories so they can build electric vehicles or battery parts.
Read more »