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Key events, in time order
Energy prices rose 20.8% year on year, and markets are pricing a December rate increase
Falling exports and a third straight drop in investment weigh on France, while the eurozone beat forecasts and complicates the ECB's path.
She will leave nearly nine months before her term ends on 31 October 2027, saying she can no longer remain neutral; the succession process began on 29 October
Euro area unemployment came in above forecast while Japan's came in below, a divergence that feeds into the two central banks' policy paths
Energy shock pushes inflation to a three-year high as Lagarde announces early exit, clouding the policy path
Her term spanned Covid, the Ukraine war and 2022 inflation above 11%; the succession race starts now, ahead of France's presidential vote
Destatis said imports rose 0.9% while exports slipped, leaving the surplus smaller than in July but still above a year earlier.
French manufacturing improved, but energy weakness kept industrial production in negative territory; both releases missed expectations and point to a softer euro area factory backdrop.
Expectations cooled even as current conditions held steady, tempering recovery optimism
Istat said exports dipped month on month, though overseas sales were still up 16.1% year on year as energy and industrial goods supported external trade.
Final national accounts show domestic demand still driving growth while external demand subtracts from GDP.
Insee data missed forecasts and pointed to softer summer industrial activity, while utilities and energy held up better than manufacturing.
Imports fell faster than exports, giving investors a fresh read on external demand in Europe’s largest economy.
Destatis said energy production rose, but a steep automotive slump left Europe’s largest economy with a weaker-than-expected factory reading.
September’s sentiment reading beat expectations and extended a five-month recovery, with Germany turning from drag to support.
Transport-equipment bookings lifted headline demand, but orders excluding large contracts fell 1.4% and foreign demand weakened
Seasonal summer layoffs remained evident, even as net employment growth stayed positive in the latest monthly reading
The latest monthly reading from the Bank of Spain points to firmer external balances as the summer tourism season gets underway.
Destatis’ latest release points to firmer upstream price pressures in Europe’s largest economy, a key input for inflation watchers.
ECB and Eurostat data point to a stronger external balance in June, a key signal for euro flows and FX pricing.
Reuters sources say Tokyo and Washington have coordinated to slow the yen’s slide, in what would be the first joint move since 2011.
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Cases AI-clustered from trusted X authors over 2 weeks; counts are distinct authors. Volume does not predict direction · Not investment advice
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Facts and opinions separated · All items sourced · Not investment advice