Canada BoC Interest Rate Decision

Canada BoC Press Conference

United States EIA Gasoline Stocks Change

United States EIA Cushing Crude Oil Stocks Change

US housing starts tumbled 8.5% month-over-month in August 2025 to a seasonally adjusted annual rate of 1.307 million units, down from a slightly revised 1.429 million in July and well below market forecasts of 1.37 million. That marked the fourth-lowest reading since May 2020, as elevated mortgage rates and a growing supply of homes for sale weighed on builder confidence and slowed construction activity.

US Housing Starts Slump in August

Building permits in the United States fell by 3.7% to a seasonally adjusted annualized rate of 1.312 million in August 2025, the lowest since May 2020 and below market expectations of 1.37 million. Single-family permits decreased by 2.2% to an annualized rate of 856 thousand, while permits for buildings with five or more units dropped by 6.7% to  403 thousand. Regionally, permits declined in the Northeast (-3.2% to 121 thousand), the Midwest (-9.5% to 200 thousand), and in the South (-6.9% to 691 thousand), but increased in the West (9.5% to 300 thousand).

US Building Permits Lowest since May 2020

The STOXX 50 pared early gains to trade near the flat line at 5,370 points on Wednesday, while the broader STOXX 600 was little changed at 551, as investors adopted a cautious stance ahead of the US Federal Reserve’s policy decision later today. The Fed is widely expected to deliver its first rate cut in nine months, reducing rates by 25 basis points to their lowest level since late 2022 amid a slowing labor market. Markets will also scrutinize the Fed’s quarterly “dot plot” projections for clues on the trajectory of future policy. In economic data, UK inflation held steady at 3.8% in August, unchanged from July and near January 2024 levels, just ahead of the Bank of England, which is expected to keep rates on hold tomorrow. In corporate news, PostNL rose more than 1.5% after unveiling a new strategy at its Capital Markets Day, announcing plans to split its Parcels business into two divisions. Novo Nordisk gained 1.6% after Berenberg upgraded the Danish drugmaker to "Buy" from "Hold".

European Stocks Flat as Investors Eye Fed

South Africa's retail sales climbed by 5.6% year-on-year in July 2025, the fastest increase in three months, accelerating from a 1.7% advance in June. The rise was largely driven by textiles, clothing, footwear, and leather goods retailers (+10.0%); general dealers (+3.3%); all ‘other’ retailers (+11.9%); and hardware, paint, and glass retailers (+13.2%). On a monthly basis, retail sales rose by 2.1% in July, marking the strongest increase since December 2023, following a revised 0.1% decline in the prior month. Retail trade sales increased by 3.8% in the three months ended July 2025 compared with the three months ended July 2024.

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