Daily Market Insight

• US CPI rose more than expected again in September; core CPI up 0.6% • Euro zone posts record trade deficit in August amid soaring energy prices • China CPI rises as expected in Sept, factory inflation at 20-month low • Oil rises as OPEC+ members voice support for supply cut

• US inflation expectations lowest in a year • UK labor market exodus drives jobless rate down to 3.5% • Japan logs record-low August current account surplus as import prices surge • Japanese yen slides past 146 level, more intervention awaited

• China's services activity falls for first time since May • Germany girds for gas supply pain, targets $93 billion price relief plan • Japan’s foreign exchange reserves fall by record $54bn • Dollar rises, stocks fall with economic data, rates in focus

• US labor market stayed tight in September: non-farm payroll +263k, jobless rate falls to 3.5% • German retail sales, industrial output fall as inflation tightens grip • Local tourism spending rises during China's Golden Week despite lockdowns • Oil jumps 4% to 5-week high lifted by OPEC+ output cut

• US initial jobless claims rose to 219,000 last week • Euro zone retail sales fall as expected in August • Japan Aug household spending rises annually on reopening • Asian stocks retreat on global recession angst; dollar firm

• Eurozone business activity lowest since January 2021 • OPEC+ agrees deep oil production cut despite US pressure • Australia’s Interest rate hikes slow as threat of global recession looms • South Korea’s inflation slightly lower but tightening bias seen intact • Asian stocks bounce higher on signs of rate hikes

• World Bank sees weak growth in 2023 for eastern Europe, central Asia • Japan’s tourism restart stirs hope of service-sector recovery –PMI • Thai headline CPI rises 6.41% y/y in Sept, less than forecast • Oil climbs ahead of OPEC+ talks on supply cut

• U.S. manufacturing declined but stay above the line • Euro Area manufacturing activity showing the biggest shrink since June 2020 • China property woes trigger decline in global cement output • Sterling helped by tax cut U-turn, yen steadies past 145 per dollar

• US core PCE inflation beats expectations again in August • Euro zone inflation hits record high 10%, raising pressure on ECB • Japanese factory sentiment unexpectedly worsens in Q3 • Oil rallies over 2% on reports of OPEC+ supply cut this week

• US weekly jobless claims hit five-month low • Euro zone economic sentiment falls sharply as inflation expectations rise • German inflation hits double digits for first time in Euro era • Sterling rallies for 3rd day after BoE bond buys; US dollar down