Euro Area ECB Monetary Policy Meeting Accounts

Canada BoC Rogers Speech

United States Continuing Jobless Claims

United States Initial Jobless Claims

European equity markets were poised for a weaker open on Thursday as investors awaited French President Emmanuel Macron’s choice for a new prime minister following the unexpected resignation of Sebastien Lecornu and his cabinet. Traders also digested recent trade developments after the EU announced plans to cut tariff-free quotas on imported steel and raise tariffs on excess imports from 25% to 50%. The move sparked strong gains in steelmakers such as ArcelorMittal and ThyssenKrupp on Wednesday. In premarket trading, Euro Stoxx 50 futures slipped 0.1%, while Stoxx 600 futures fell 0.3%.

European Stocks Set to Open Lower

Malaysian Prime Minister Anwar Ibrahim, who also serves as finance minister, will unveil the 2026 budget on Friday, aiming to refine policies and align fiscal priorities with the five-year Madani economic plan introduced in July. The budget is expected to focus on social protections and strategic investments in semiconductors, green energy, and AI-driven industries. Analysts see the fiscal deficit narrowing to 3.4%–3.6% of GDP from 3.8% this year, aided by reforms such as the expanded Sales and Services Tax and fuel subsidy rationalization. While broad-based tax hikes are unlikely, Anwar may raise excise duties on alcohol and tobacco and outline a carbon pricing plan for large emitters. Additional measures may include incentives for private investment, digital healthcare, and affordable housing, alongside efforts to rejoin the FTSE World Government Bond Index. GDP growth for 2026 is likely projected at 4.5%–5%, following 4.0%–4.8% this year.

Malaysia to Roll Out 2026 Budget Targeting Fiscal Discipline and Growth

New Zealand's benchmark S&P/NZX 50 ended a volatile session little changed at 13,571 on Thursday, a day after the Reserve Bank announced a bumper rate cut. The RBNZ cut cash rates by an outsized 50bps to 2.5% and left the door open to yet further easing as it tries to revive a struggling economy. Among individual stocks, notable gainers included Meridian Energy (+1%), Spark NZ (+0.8%), Ryman Healthcare (+3.6%), and Air New Zealand (+0.8%). On the other hand, the biggest decliners were Mercury NZ (-2.65%), Contact Energy (-0.7%), Fletcher Building (-1.8%), Summerset (-2.1%), and Property for Industry (-2.7%). Overseas, US stocks hit records on Wednesday after minutes from the latest FOMC meeting showed most members supported further rate cuts this year, though many also expressed caution amid persistent inflation.

New Zealand Stocks End Volatile Session Flat

Household consumption in the Netherlands rose by 1.1% year-on-year in August 2025, slowing from a 1.3% increase in the previous month. The slowdown was mainly due to a smaller rise in the consumption of goods (0.7% vs 1.1% in July), reflecting moderated spending on durable consumer goods (1.9% vs 3.4%), while there was a slight rebound in the consumption of food, beverages, and tobacco (0.3% vs -1.3%). Meanwhile, consumption growth for services was unchanged at 1.4%, mainly driven by spending on transport, communication, and hospitality. Spending on services accounts for more than half of total household consumption expenditure. The September Consumption Radar, which tracks key factors affecting household spending, showed slightly improved conditions from August as consumer sentiment and employment prospects strengthened.

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