The Indian rupee strengthened to around 95.7 per dollar, rebounding from seven-week lows as easing crude oil prices, expectations of foreign portfolio inflows linked to the National Stock Exchange’s $2.3 billion IPO and likely RBI intervention supported the currency. Brent crude fell for a third straight session to around $104.1 a barrel as hopes of alternative routes for Middle Eastern oil to reach markets outweighed supply concerns, while a modest retreat in US bond yields also provided relief. Traders expect sizeable foreign institutional investor demand for the NSE IPO, which closes for subscription on Monday. The rupee held near 96 per dollar on Thursday despite the Federal Reserve’s rate hike, recovering after likely RBI intervention and portfolio inflows linked to global equity index rebalancing. However, strong importer dollar demand and elevated oil prices remain headwinds, while the dollar stays above 100 following the Fed’s hawkish stance.

Rupee Rebounds on Lower Oil, IPO Inflows

The offshore yuan strengthened to around 6.69 per dollar on Friday, extending gains from the previous session and reaching its strongest level since July 2022, as a firmer daily fixing from the People’s Bank of China continued to support the currency. The central bank set the daily midpoint at 6.7521 per dollar, stronger than Thursday’s 6.7580, marking an upward bias in the fixing for an eighth consecutive session and the longest such run since 2023. The move indicated that the central bank may be increasingly comfortable with a stronger yuan ahead of President Donald Trump’s meeting with Chinese leader Xi Jinping in the US on September 24. A stronger currency could help alleviate some trade tensions between the two economies, as Western officials have argued that an undervalued yuan gives Chinese exporters a competitive edge. Meanwhile, US Treasury Secretary Scott Bessent is also set to meet Chinese Vice Premier He Lifeng this weekend.

Offshore Yuan Strongest Since 2022

The Bank of Japan lifted its key short-term rate by 25bps to 1.25% in a 7-2 vote at its September meeting, marking the highest level since April 1995 and aligning with market expectations. The move came as the central bank sought to address persistent inflationary pressures, including those stemming from higher oil prices. It marked the first rate hike in three months and another step away from decades of ultra-low interest rates. Board members Asada Toichiro and Sato Ayano dissented.

Japan Raises Policy Rate to Highest Level in 31 Years

Soybean futures traded above $13.1 per bushel, near their highest level in almost three years supported by stronger Chinese demand for US supplies and expectations of further purchases ahead of high-level US-China talks. China has already passed the halfway mark of its commitment to purchase 25 million metric tons of US soybeans, while recent US export sales have remained firm, confirmed at about 1.7 million metric tons, driven largely by Chinese demand. The buying comes ahead of a planned meeting between US President Donald Trump and Chinese President Xi Jinping next week, raising hopes for progress on agricultural trade and potentially lower tariffs on US farm goods. Meanwhile, attention remains on the approaching US harvest and crop conditions across the Midwest, while weather-related delays could provide additional near-term support. Brazil’s upcoming soybean crop is also in focus, with expectations for another large harvest potentially limiting longer-term supply concerns.

Soybeans Remain Firm Ahead of Trump-Xi Talks

Indonesia’s IDX Composite added 27 points or 0.4% to 6,488 in Friday morning trade, extending prior gains after Wall Street’s overnight rally as oil prices eased and Treasury yields slipped in the wake of the Fed’s rate hike shock. Domestically, Finance Minister Suahasil Nazara vowed to uphold a credible budget, with economists noting his fiscal expertise and long tenure at the ministry. Strength in energy, tech, and basic materials underpinned the advance, though losses in financials and infrastructure capped momentum. Notable movers included Mitra Adiperkasa (3.4%), Medco Energi (1.6%), Hartadinata Abadi (1.4%), and Vale Indonesia (1.1%). However, the market remains on track for a second consecutive weekly decline, down about 0.8% so far, pressured by growing inflation concerns tied to higher oil prices and looming El Niño risks. Caution also lingered ahead of Bank Indonesia’s policy meeting next week, with renewed rupiah weakness and signs of foreign outflows weighing on sentiment.

Indonesia Shares Track Back-to-Back Weekly Losses

The New Zealand dollar slipped to around $0.571 on Friday, moving back near a ten-week low after rising 0.3% in the previous session, as a firmer US dollar continued to weigh on the currency. The greenback clung to a seven-week high after the Federal Reserve hiked rates and signaled further tightening ahead. This outweighed support from better-than-expected domestic data. New Zealand’s GDP growth in the second quarter beat estimates, suggesting some resilience in economic activity despite the severe energy shock from US-Iran war. In addition, the country’s trade deficit narrowed more than anticipated in August, as export growth outpaced the increase in imports. Meanwhile, markets are pricing in a 65% chance that the Reserve Bank of New Zealand will raise its cash rate again to 3.0% at its October meeting. The kiwi was down around 1.6% so far this week, marking its fourth consecutive weekly decline.

New Zealand Dollar Falls Back

US natural gas prices fell more than 1% to $2.85/MMBtu on Friday, erasing the previous session’s gains as weather forecasts turned cooler. Above-average temperatures are now expected to cover a smaller area of the South and Southeast from September 22 to October 1, potentially curbing gas demand from power generators for air conditioning. Prices had risen on Thursday after the EIA reported a below-average storage build for the week ended September 11, narrowing the inventory surplus over the five-year average to 118 Bcf from 148 Bcf a week earlier, as late-season heat boosted power-sector demand. Strong production also continued to weigh on the market, with Lower 48 production averaging 113.1 bcfd in September, above August’s record monthly average of 112.2 bcfd. At the same time, average flows to the nine major US LNG export facilities were expected to fall to a three-week low of 17.5 bcfd, primarily due to maintenance at Cameron LNG in Louisiana.

US Natgas Prices Drop Over 1%

The yield on the US 10-year Treasury note held around 4.94% on Friday after losing almost 10 basis points in the previous session, retreating from 19-year highs as softer oil prices eased inflation concerns. Oil prices fell for a third consecutive session as Saudi Arabia took steps to resume flows through its East-West pipeline, while President Donald Trump is expected to meet with Gulf leaders next week. Markets also continued to assess the Federal Reserve’s policy direction after the central bank raised interest rates by 25 basis points this week, marking its first hike in three years. The Fed indicated that additional tightening could be pursued later this year to curb persistent price pressures, with Chair Kevin Warsh emphasizing that inflation remains elevated. The Bank of Japan is likewise expected to increase rates, while the Bank of England kept borrowing costs unchanged on Thursday but warned that a prolonged Middle East conflict could eventually prompt further tightening.

US 10-Year Yield Holds Decline

The dollar index held around 100.2 on Friday, remaining close to seven-week highs as traders weighed the Federal Reserve’s policy outlook following its latest rate decision and amid softer oil prices. The index is heading for a weekly gain of more than 1% after the FOMC unanimously lifted the fed funds rate by 25 basis points to 3.75%-4%, marking its first increase in three years. Fed officials also indicated that additional tightening could come later this year as they seek to contain rising price pressures, with Chair Kevin Warsh noting that inflation remains elevated. The Bank of Japan is also expected to raise rates, while the Bank of England left borrowing costs unchanged on Thursday but cautioned that prolonged conflict in the Middle East could eventually require a rate hike. Meanwhile, oil prices extended their decline for a third session as Saudi Arabia worked to restore flows through its East-West pipeline, easing inflation worries.

Dollar Steadies as Traders Assess Fed Outlook

The Shanghai Composite rose 0.5% to around 3,900, while the Shenzhen Component gained 0.8% to 13,500 on Friday, rebounding from the previous session as easing oil prices improved risk sentiment, while markets watched the upcoming high-level US-China talks. Both benchmarks are also on track for modest weekly gains as concerns over Middle East supply disruptions eased, with Saudi Arabia working to restore flows through its East-West pipeline and hopes growing for renewed diplomatic efforts to end the conflict. Meanwhile, the upcoming meeting between US President Donald Trump and Chinese President Xi Jinping is expected to cover growing AI competition and access to advanced US chips, while investors also await progress on tariffs, China’s rare-earth export restrictions, the yuan and a possible extension of the trade truce due to expire in November. Technology stocks led the advance, with CXMT, Foxconn, Zhongji Innolight and Cambricon up 1% to 3%, while the banking sector mostly declined.

China Stocks Rebound on Oil Retreat, Tech Gains

The Hang Seng Index rose 0.9%, or around 214 points, to around 24,819 on Friday, as easing oil prices and softer US Treasury yields improved market sentiment after the Federal Reserve raised interest rates by 25 basis points to 3.75%-4.00% and signaled the possibility of another hike this year. Brent crude fell below $104 a barrel after declining for a third straight session, easing concerns over inflation and higher borrowing costs. Wall Street also rebounded sharply overnight, with the S&P 500 and Nasdaq gaining more than 1%, supporting risk appetite across Asian markets. Technology shares led gains in Hong Kong, tracking the tech-led rally on Wall Street. Notable movers included Z.AI Co. (4.5%), Tencent (0.7%), Lenovo (2.7%), MiniMax (7.3%), and SMIC (2.4%). Investors continued to monitor developments in the Middle East and the outlook for further US monetary tightening, while attention also turned to the planned meeting between President Trump and President Xi next week.

Hong Kong Stocks Rise as Oil Slips, Tech Leads

Australia’s 10-year government bond yield fell below 5.3%, pulling back from mid-2011 highs and tracking lower global yields as easing concerns over Middle East supply disruptions reduced inflation pressures. Oil prices retreated after Saudi Arabia worked to restore flows through its East-West pipeline, while President Trump is set to meet Gulf leaders next week. In Australia, hawkish comments from the Reserve Bank’s top official reinforced expectations for further policy tightening. Governor Michele Bullock said upside inflation risks were materializing and warned that higher costs could make inflation more persistent. Her remarks follow statements over the past month by senior RBA officials that inflation remains elevated and needs to ease further. Markets now priced at least two more rate hikes by the February meeting, with a roughly 87% chance the first occurs on September 29. That marks a notable shift from the start of September, when traders were pricing just one further hike.

Australia 10Y Yield Retreats from 2011 Highs

The benchmark KOSPI climbed more than 2% to around 6,850 on Friday, recovering losses from the previous session, as a rebound in US technology stocks lifted regional equities. The Nasdaq advanced 1.7% overnight, with technology shares recovering after the Federal Reserve’s latest rate hike, while Brent crude fell to around $104 per barrel, easing concerns over inflation and borrowing costs. Additionally, strong demand for AI-related semiconductors continued to drive gains in major chipmakers, with Samsung Electronics and SK hynix advancing more than 2% and 4%, respectively. Also, reports that the US may delay announcing new tariffs related to excess industrial capacity until after next week’s Trump-Xi summit reduced an immediate trade risk for Korean exporters. Meanwhile, renewed pressure on the Bank of Korea to raise rates following the Federal Reserve’s latest hike remained a potential constraint on the broader recovery.

South Korean Shares Rise on Tech Gains

US gasoline futures fell to around $3.46 per gallon, slightly easing from an eight-week high, as expectations that Saudi Arabia could restore some disrupted exports soothed immediate supply concerns. The kingdom was reportedly seeking to restore about half the capacity of its East-West oil pipeline within days after drone attacks halted the key link to the Red Sea, while offering additional crude cargoes to Asian refiners via ship-to-ship transfers off Oman’s Sohar port. Meanwhile, EIA data showed US gasoline inventories unexpectedly rose for a second consecutive week, increasing by 794,000 barrels in the week ended September 11, while refinery utilization remained elevated at 96.8%, despite easing from 97.8% a week earlier. However, approaching seasonal refinery maintenance could constrain production and remains a threat to refined-product supplies.

Gasoline Prices Ease

US heating oil prices eased to around $5.05 per gallon, retreating from a record high of $5.26 reached earlier this week, as rising inventories and expectations of alternative routes for Middle Eastern barrels offered some respite from tight distillate supplies. EIA data showed distillate inventories, including diesel and heating oil, rose by 1.6 million barrels in the week ended September 11 but remained 13% below their five-year average. Meanwhile, Saudi Arabia was reportedly seeking to restore about half the capacity of its East-West oil pipeline within days after drone attacks halted the key link to the Red Sea, while offering additional crude cargoes to Asian refiners via ship-to-ship transfers off Oman’s Sohar port. Still, supply risks persisted as Saudi Arabia and Iran-backed Houthi forces exchanged fresh strikes. With winter approaching, distillate demand could strengthen, while refinery maintenance could constrain production and put further pressure on already-tight supplies.

US Heating Oil Prices Ease

Australian stocks edged up 14 points, or 0.2%, to 8,747 in early Friday trade, extending gains for a third straight session after Wall Street rebounded overnight as easing oil prices and softer Treasury yields helped calm nerves after the Fed’s rate-hike shock. Tech, non-energy minerals, and consumer durables drove the gains, though losses in healthcare, energy minerals, and retail trade capped the upside. Gold miners advanced, with Northern Star Resources up 2.7% and Evolution Mining rising 3.0%, while Lynas Rare Earths, Perseus Mining, and South32 each added over 2%. For the week, the domestic market was little changed, stabilizing after recent declines as traders weighed remarks before parliament from RBA Governor Michele Bullock, who warned that upside inflation risks are emerging amid surging global energy costs from the prolonged Middle East conflict, compounded by pressures from the AI data-centre boom and extreme weather.

Australia Shares Inch Higher,  Weekly Picture Muted

Japan’s 10-year government bond yield slipped to around 2.96% on Friday, extending its decline into a third session as markets positioned for the Bank of Japan’s latest policy decision, with markets widely expecting an interest-rate hike. Investors will also watch for signals on further tightening as policymakers navigate rising inflation and wage growth, along with pressure from US Treasury Secretary Scott Bessent to pursue more aggressive rate increases. Meanwhile, Japan’s core inflation eased to 1.7% in August from 1.8% in July, marking its first slowdown in four months. However, expectations that price pressures could strengthen in the coming months continued to support a hawkish BOJ outlook, while disruptions in the Middle East added to inflation risks. Japanese bond yields also followed declines in global yields as falling oil prices helped ease concerns over inflation.

Japan 10-Year Yield Falls Ahead of BOJ Verdict

The Japanese yen weakened past 156 per dollar on Friday, hovering near two-week lows as investors awaited the latest Bank of Japan policy decision, with markets widely expecting an interest-rate hike. Investors will also seek guidance on the potential for further tightening as policymakers contend with rising inflation and wages, alongside pressure from US Treasury Secretary Scott Bessent for a more aggressive pace of rate increases. Meanwhile, Japan’s core inflation eased to 1.7% in August from 1.8% in July, marking its first slowdown in four months. However, expectations that price pressures could strengthen in the coming months continued to support a hawkish BOJ outlook, with disruptions stemming from the Middle East adding to inflation risks. Earlier this month, the yen climbed to seven-month highs on expectations of more aggressive BOJ tightening, recent joint interventions by Tokyo and Washington, and prospects of greater capital repatriation by Japanese investors.

Yen Slips Ahead of BOJ Decision

The Australian dollar rose above $0.71, attempting to recover from a recent four-week low as hawkish comments from the Reserve Bank’s top official reinforced expectations for further policy tightening. Governor Michele Bullock said upside inflation risks were materializing and warned that higher costs could make inflation more persistent, pointing to the Middle East conflict, rising energy prices and stronger domestic cost pressures. Prior to the testimony, swaps markets priced at least two more rate hikes by the February meeting, with a roughly 87% chance the first occurs on September 29. That marks a notable shift from the start of September, when traders were pricing just one further hike, likely by year-end. The Aussie also benefited from a softer US dollar, alongside lower Treasury yields and easing oil prices, while a rebound in global equities provided additional support for the risk-sensitive currency.

Australian Dollar Attempts Rebound

The Nikkei 225 Index climbed 0.9% to above 64,600 on Friday, rising for the third straight session as investors braced for the latest Bank of Japan policy decision, where it is widely expected to raise interest rates. Investors will also look for guidance on the possibility of further tightening as policymakers grapple with elevated inflation and wage growth, along with pressure from US Treasury Secretary Scott Bessent. Meanwhile, Japan’s annual inflation rate held steady at 1.9% in August, while core inflation stayed below the BOJ’s 2% target for a seventh straight month at 1.7%. Technology and AI-related stocks led the gains following similar advances on Wall Street overnight, as concerns over AI development safety risks eased. Notable performers included Kioxia (3.2%), SoftBank Group (4.1%), Advantest (4%), Lasertec (5.5%), and Ibiden Co (3.3%).

Japanese Shares Gain Ahead of BOJ Decision

Silver held above $65 an ounce on Friday after climbing more than 3% in the previous session, supported by falling oil prices that eased inflation concerns and helped push bond yields lower. Oil prices declined for a third consecutive session as Saudi Arabia worked to restore flows through its East-West pipeline, while President Donald Trump is set to meet with Gulf leaders next week. Treasury yields also pulled back from multi-year highs, with the US 10-year yield falling to around 4.93% after briefly exceeding 5% earlier this week. Meanwhile, investors continued to assess the outlook for Federal Reserve monetary policy following its first rate hike in three years. The US central bank signaled that additional tightening could be needed to contain inflationary pressures, with markets now pricing in roughly a 53% probability of a move in October.

Silver Holds Gains on Lower Oil Prices

Gold traded around $4,350 an ounce on Friday after climbing nearly 2% in the previous session, supported by falling oil prices that eased inflation concerns and helped push bond yields lower. Oil prices declined for a third consecutive session as Saudi Arabia worked to restore flows through its East-West pipeline, while President Donald Trump is set to meet with Gulf leaders next week. Treasury yields also pulled back from multi-year highs, with the US 10-year yield falling to around 4.93% after briefly exceeding 5% earlier this week. Meanwhile, investors continued to assess the outlook for Federal Reserve monetary policy following its first rate hike in three years. The US central bank signaled that additional tightening could be needed to contain inflationary pressures, with markets now pricing in roughly a 53% probability of a move in October.

Gold Holds Gains on Lower Oil Prices

Japan’s food prices rose 3.1% year-on-year in August 2026, slowing from 3.5% in the previous month and marking the slowest increase since July 2024. Price pressures moderated across fresh vegetables (5.5% vs 6.5% in July), fresh fruit (0.1% vs 2.4%), dairy products and eggs (1.3% vs 3.5%), cakes and candies (5.0% vs 6.1%), meats (3.3% vs 3.9%), alcoholic beverages (0.4% vs 0.6%), and prepared foods (3.3% vs 3.5%). Meanwhile, cereal prices fell for a fourth straight month (-3.4% vs -2.2%). At the same time, rice prices dropped 15.7% year-on-year, extending their decline for a fourth consecutive month and marking the steepest fall since April 2005. In contrast, prices accelerated for fish and seafood (9.9% vs 9.0%), oils, fats and seasonings (4.0% vs 3.4%), beverages (6.0% vs 5.5%), and meals eaten out (2.1% vs 1.7%).

Japan Food Prices Rise the Least in 25 Months

US stock futures were little changed on Friday after the major averages rallied in the previous session, as falling oil prices and bond yields improved risk appetite. In regular trading on Thursday, the Dow rose 0.61%, the S&P 500 gained 1.14%, and the Nasdaq Composite advanced 1.69%. Chipmakers led the gains, extending their recovery after concerns over AI safety earlier in the week sparked doubts about AI-related capital spending. Strong performances came from Micron (5.5%), Nvidia (2.5%), Intel (7.7%), AMD (6.4%), and SanDisk (6.2%). Stocks benefited from lower oil prices that eased inflation worries and helped Treasuries rally across the curve, with the US 10-year yield falling to around 4.93% after topping 5% earlier this week. Wall Street also rallied in relief after the Federal Reserve delivered a widely expected rate hike, though policymakers signaled further tightening to curb inflation.

US Futures Steady After Upbeat Session

Japan's annual inflation rate held at 1.9% in August 2026, unchanged from the previous month and remaining at its highest level since December 2025. Core inflation, which excludes fresh food, eased to 1.7% from 1.8% in July, remaining below the Bank of Japan's 2% target for a seventh consecutive month.

Japan Inflation Rate Stays at 7-Month High

Japan’s core consumer price index, which excludes fresh food but includes energy, increased 1.7% year-on-year in August 2026, after a 1.8% rise in July. The latest reading slowed from the highest rate in six months, touched a month earlier, and was below the market forecast of 1.8%. Still, the latest reading remained below the Bank of Japan’s 2% target for an eighth straight month, as government fuel subsidies helped offset price pressures from higher oil costs linked to the Middle East conflict.

Japan Core Inflation Eases, Below Forecasts

Brent crude fell to around $104 per barrel on Friday, extending its decline for a third consecutive session as concerns over supply disruptions in the Middle East eased and hopes grew for renewed diplomatic efforts to end the conflict and restore energy flows. Saudi Arabia is targeting the recovery of around half the capacity of its East-West pipeline within days, with a return to full operations expected within six weeks. In the meantime, the kingdom is rerouting some crude exports through the Strait of Hormuz. Shuttle vessels transport crude through Hormuz before loading tankers waiting outside the strait, limiting their exposure to potential Iranian attacks. Reports also suggested that China had urged Iran to help curb Houthi militants after an appeal from Riyadh, as the rebel group intensified attacks on Saudi energy infrastructure. Meanwhile, President Donald Trump said he was weighing whether to resume attacks on Iran ahead of a meeting with Gulf leaders in New York next week.

Brent Slides for Third Session

Crude oil fell toward $101 per barrel on Friday, extending its decline for a third consecutive session as concerns over supply disruptions in the Middle East eased and hopes grew for renewed diplomatic efforts to end the conflict and restore energy flows. Saudi Arabia is targeting the recovery of around half the capacity of its East-West pipeline within days, with a return to full operations expected within six weeks. In the meantime, the kingdom is rerouting some crude exports through the Strait of Hormuz. Shuttle vessels transport crude through Hormuz before loading tankers waiting outside the strait, limiting their exposure to potential Iranian attacks. Reports also suggested that China had urged Iran to help curb Houthi militants after an appeal from Riyadh, as the rebel group intensified attacks on Saudi energy infrastructure. Meanwhile, President Donald Trump said he was weighing whether to resume attacks on Iran ahead of a meeting with Gulf leaders in New York next week.

Oil Slides for Third Session

The unemployment rate in Costa Rica fell to 7.0% in the second quarter of 2026 from 7.4% in the same period a year earlier, but little changed from 7.1% in the previous quarter. Nationwide, the number of unemployed people was estimated at 164,000, including 98,000 men and 66,000 women. The unemployment rate was 6.8% for men and 7.2% for women. The labor force stood at 2.35 million, comprising 1.43 million men and 921,000 women, while the net labor force participation rate was 54.6%, at 66.3% for men and 42.9% for women. Employment rose to 2.18 million, with the employment rate at 50.8%, compared with 61.7% for men and 39.8% for women. Informal employment totaled 785,000, including 438,000 self-employed workers and 348,000 wage earners or family helpers.

Costa Rica Unemployment Rate Falls to 7.0% in Q2

The NZX 50 advanced 29 points, or 0.2%, to 13,785 in Friday morning trade, up for the third straight session, tracking gains on Wall Street overnight as easing oil prices softened Treasury yields, while the Fed’s rate hike reaffirmed the central bank’s commitment to contain inflation. Thursday’s data continued to lift sentiment after New Zealand’s GDP grew faster than expected in Q2. However, traders awaited China’s interest rate decision and US PMI data next week for clues about the economic outlook in the two countries. On the data front, New Zealand’s trade deficit narrowed in August from July, as exports rose more than imports, while food inflation stayed at a 19-month low. Real estate, consumer discretionary, and financials mainly drove the index, with notable gains including Port of Tauranga (1.0%), Chorus (0.8%), Hallenstein Glasson (0.8%), and Auckland International Airport (0.5%).

New Zealand Equities Head for Weekly Gain

Annual food inflation in New Zealand stood at 1.9% in August 2026, unchanged from the previous month, which was the softest increase since December 2024.

New Zealand Food Inflation Stays at 19-Month Low

Imports to New Zealand rose 13.1% year-on-year to NZD 8.0 billion in August 2026, following a 28.4% jump in the previous month. The increase in imports was mainly driven by higher purchases of petroleum and petroleum products (up 43%), vehicles, parts, and accessories (up 30%), electrical machinery and equipment (up 25%), and mechanical machinery and equipment (up 15%).

New Zealand Imports Climbs 13% in August

New Zealand's exports increased 15.4% yoy to NZD 6.66 billion in August 2026, after a downwardly revised 10.8% rise in the previous month. Export growth was mainly driven by higher exports of milk powder, butter, and cheese (7.6%); meat and edible offal (23%); and precious metals, jewellery, and coins (53%).

New Zealand Exports Rise 15.4% in August

New Zealand's trade deficit widened to NZD 1.35 billion in August 2026, up slightly from a NZD 1.31 billion gap in the same month a year earlier but below estimates of a NZD 1.78 billion gap. Exports grew 15.4% yoy to NZD 6.66 billion, after a downwardly revised 10.8% growth in July. Meanwhile, imports rose 13.1% yoy to NZD 8.0 billion, following an upwardly revised 28.4% jump in July.

New Zealand Balance Trade Gap Below Estimates

Brent crude oil settled near $104 a barrel on Thursday, extending a 2.7% drop from the previous session, as Saudi Arabia shifts some crude exports through the Strait of Hormuz to offset the closure of a key pipeline. Saudi Arabia is reportedly making additional crude cargoes available to Asian refiners through ship-to-ship transfers near Oman’s Sohar port. Shuttle vessels transport crude through Hormuz before loading tankers waiting outside the strait, reducing their exposure to Iranian attacks. Saudi Arabia also said it could restore around half of the damaged East-West pipeline’s capacity within days and full operations within six weeks. Saudi crude loadings at Mideast Gulf ports have risen this month, while ship-to-ship transfers in the Gulf of Oman increased to 2.7 million bpd from 1.5 million bpd in August. Meanwhile, Russia’s seaborne oil product exports jumped 16.4% in August from July as refineries returned from maintenance.

Brent Extends Drop as Supply Risks Ease

Crude oil settled near $101 a barrel on Thursday, extending a 3.2% drop from the previous session, as Saudi Arabia shifts some crude exports through the Strait of Hormuz to offset the closure of a key pipeline. Saudi Arabia is reportedly making additional crude cargoes available to Asian refiners through ship-to-ship transfers near Oman’s Sohar port. Shuttle vessels transport crude through Hormuz before loading tankers waiting outside the strait, reducing their exposure to Iranian attacks. Saudi Arabia also said it could restore around half of the damaged East-West pipeline’s capacity within days and full operations within six weeks. Saudi crude loadings at Mideast Gulf ports have risen this month, while ship-to-ship transfers in the Gulf of Oman increased to 2.7 million bpd from 1.5 million bpd in August. Meanwhile, Russia’s seaborne oil product exports jumped 16.4% in August from July as refineries returned from maintenance.

Oil Extends Drop as Supply Risks Ease

South Korea’s producer prices rose 7.9% year over year in August 2026, accelerating from a 7.7% increase in July. Manufacturing producer prices climbed 12.2%, led by a 54.3% surge in coal and petroleum products. Prices for computers, electronic and optical equipment rose 24.5%, while chemical products increased 16.9% and basic metal products advanced 16.0%. Meanwhile, prices of agricultural, forestry, and marine products rose 1.1%, while service prices increased 4.4%. Utility prices rose 2.9%. In contrast, prices of mining products edged down 0.1%. On a monthly basis, the Producer Price Index increased 0.2%, following a 0.4% rise in July.

South Korea Producer Inflation Rises in August

The Ibovespa edged 0.2% higher to close at 185,992 on Thursday after a volatile session following the BCB’s decision to cut the Selic rate by 25 bps to 13.75%. The Copom did not signal its next steps but left the door open for another cut at the next meeting. The message was one of continuity, with monetary policy remaining cautious, data-dependent, and focused on composure. Still, the index fell as much as 1.2% during the session amid concerns over government spending and electoral effects after the federal government announced a 15% increase in welfare benefits. Polls showing challenger Flávio Bolsonaro numerically ahead in second-round scenarios continued to support the index. A halt in the oil rally and the consequent softening of global yields also helped support the market. Major banks were mixed, with Banco do Brasil rising 0.3% and Santander advancing 2.5%, while Itaú inched lower and Bradesco fell 0.3%. Vale rose 2.1%, helped by higher iron ore prices.

Ibovespa Edges Higher After Selic Cut

The Dow Jones Index went up by 335 points or 0.65 percent on Thursday to close at 51797 points. The rise was led by Nvidia (2.55%), Cisco Systems (2.30%) and Amazon (2.17%). On the downside, the weakerst performers were Salesforce (-3.07%), Boeing (-2.41%) and Walt Disney (-1.43%).

The Dow Jones Index Closes 0.65% Higher

Argentina’s unemployment rate rose to 7.9% in the second quarter of 2026, up from 7.8% in the previous quarter, although the change was not statistically significant. The employment rate edged up to 45.0% from 44.8%, while labor force participation increased to 48.9% from 48.6%. By region, unemployment was highest in the Pampas region at 9.7%, followed by Greater Buenos Aires at 8.2%. The jobless rate stood at 8.4% for women and 7.5% for men. Unemployment among women aged 14 to 29 reached 17.1%, while the rate for men in the same age group stood at 14.1%. By education level, the largest share of unemployment was among those with completed secondary education at 2.8% of the labor force. Regarding job-search duration, 2.4% of the labor force had been looking for work for more than a year. Meanwhile, unemployment in urban areas outside Greater Buenos Aires rose significantly, from 6.8% to 7.6%.

TSX Closes Higher on Oil Pullback

Argentina’s unemployment rate rose to 7.9% in the second quarter of 2026, up from 7.8% in the previous quarter. The employment rate edged up to 45.0% from 44.8%, while labor force participation increased to 48.9% from 48.6%. By region, unemployment was highest in the Pampas region at 9.7%, followed by Greater Buenos Aires at 8.2%. The jobless rate stood at 8.4% for women and 7.5% for men. Unemployment among women aged 14 to 29 reached 17.1%, while the rate for men in the same age group stood at 14.1%. By education level, the largest share of unemployment was among those with completed secondary education at 2.8% of the labor force. Regarding job-search duration, 2.4% of the labor force had been looking for work for more than a year. Meanwhile, unemployment in urban areas outside Greater Buenos Aires rose significantly, from 6.8% to 7.6%.

Argentina Jobless Rate Edges Higher in Q2

US stock indices closed higher on Thursday, erasing losses from the previous two sessions as lower oil prices softened Treasury yields. The S&P 500 rose 1.1%, the Dow added 316 points, and the Nasdaq gained 1.7%. Oil and fuel prices trimmed their recent surge after Saudi Arabia signaled progress in restoring capacity through its East-West pipeline, easing some of the recent increase in wholesale energy inflation. Credit-sensitive hyperscalers posted gains, with Alphabet up 1.3%, Microsoft adding 1.5%, Meta rising 1.3%, Amazon advancing 2.1%, and Oracle jumping 5.1%. Chipmakers were sharply higher, extending their rebound after concerns over AI safety raised doubts about AI capital expenditure earlier this week. Nvidia rose 2.5%, Micron climbed 5.5%, AMD jumped 6.4%, and Intel soared 7.7%. Meanwhile, the Fed to rose interest rates by 25 bps on Wednesday, while FOMC members’ projections pointed to a consensus that another rate hike is warranted this year. Financials were mostly muted.

US Stocks Rebound on Lower Oil

Argentina’s economy grew 2.0% year-on-year in the second quarter of 2026, slowing from a 2.3% increase in the previous quarter, but beating forecasts of a 1.6% expansion. The strongest sector gains came from fishing (44.7%), mining and quarrying (16.4%), and agriculture, livestock, hunting and forestry (6.9%). Other notable expansions were recorded in electricity, gas and water (5.0%), financial intermediation (4.8%), and hotels and restaurants (1.6%). In contrast, manufacturing contracted 2.1%, while public administration and defense declined 1.4%, marking the weakest performances. On the demand side, exports rose 13.7% year-on-year, leading growth, while private consumption increased 0.4% and public consumption fell 4.1%. Gross fixed capital formation contracted 11.1%, while imports of goods and services fell 8.6%. On a quarter-on-quarter basis, the economy contracted 0.6% in seasonally adjusted terms.

Argentina GDP Growth Slows in Q2

Lumber futures fell below $550 per thousand board feet, reaching their lowest level in nine months, as elevated borrowing costs continued to weigh on demand. The US housing market remains tight, with mortgage rates near their highest level in over a year and showing no sign of easing after the Federal Reserve hiked its key policy rate, weighing on demand from prospective homebuyers. Building permits also fell 2.7% over the month, although a 7.6% increase in lumber-intensive single-family housing starts in August. Provided an offsetting pressure, US-Canada trade talks fell through, raising concerns over lumber supply. Ottawa had announced counter-tariffs of 25% on US lumber and 50% on plywood following US tariffs on several lumber-related goods. US forestry groups have long accused Canada of distorting the market, noting that 94% of Canadian forestland is publicly owned, compared with 58% privately owned in the US, allowing Canadian lumber to be sold at lower prices.

Lumber Falls to Nine-Month Low

European stocks closed firmly higher on Thursday, tracking the positive momentum for stocks worldwide after a pullback in oil and gas prices softened the elevated level for sovereign yields. The Euro STOXX 50 gained 0.9% to 6,323 and the STOXX Europe 600 rose 0.9% to 643. Natural gas benchmarks in the continent and wholesale fuel costs eased after Saudi Arabia signaled its East-West pipeline could return to operation shortly, softening risks of even more aggressive inflation in the Eurozone. Meanwhile, the Fed raised its rates by 25bps, as expected, but the hawkish tone in Chairman Warsh's remarks flattened yield curves across economies with exposure to US credit, also softening long borrowing costs. Banks closed higher, with Santander, BBVA, and Deutsche Bank adding close to 2%. Power-hungry industrials also gained, with Siemens Energy, Schneider, and Siemens jumping between 3.5% and 2.5%.

European Stocks Extend Rebound

Palladium futures held near $1,300 per ounce, their lowest level in over a month, following the Federal Reserve’s monetary policy meeting. As widely expected, the Fed hiked its benchmark rate for the first time since 2023 and is expected to deliver another hike this year amid elevated economic and geopolitical uncertainty, raising the opportunity cost of holding non-yielding assets such as palladium. Meanwhile, persistent supply vulnerabilities in South Africa, linked to elevated operating costs and power grid instability, continued to raise concerns over mine output. Ongoing trade and geopolitical risks affecting Russian palladium also provided a supportive backdrop for prices.

Palladium Holds Steady

Frankfurt’s DAX 40 closed about 0.7% firmer at 25,733 on Thursday, it highest in more than a week, marking the second straight session of gains. The continued decline in oil prices and the easing in global bond yields lifted market sentiment. The Federal Reserve’s rate hike and hawkish stance a day earlier also reassured investors of its commitment to containing inflation while defending its policy credibility. Meanwhile, President Trump threatened the EU with “very serious tariffs” or trade restrictions over Ursula von der Leyen’s proposal to allow Canada to become the bloc’s first “associate member.” Most sectors recorded gains, particularly autos, industrials, banks and utilities. Qiagen NV led the way, surging 3.8%, amid rumors of renewed private equity interest for aquisition. Siemens Energy added 3.5%. Automotive stocks also saw strong buying, with shares of Volkswagen, BMW and Mercedes-Benz rising 2.7%, 1.9% and 1.3%.

DAX Finishes on Higher Note

The US 30-year fixed-rate mortgage averaged 6.95% as of September 17th, 2026, rising for a fourth consecutive week and up from 6.76% in the previous week. The rate remains at its highest level since January 2025 and is inching closer to the 7% mark. A year ago, the 30-year fixed-rate mortgage averaged 6.26%. Following the Federal Reserve’s hike in its benchmark rate, borrowing costs show little sign of easing, weighing on prospective homebuyers. Meanwhile, the 15-year fixed-rate mortgage averaged 6.26%, also its highest level since January 2025, up from 6.09% last week and 5.41% a year earlier.

US 30-Year Mortgage Rate Rises Further

The FTSE MIB Index went up by 416 points or 0.80 percent on Thursday to close at 52386 points. The rise was led by Poste Italiane (3.55%), Telecom Italia (2.80%) and Stellantis N.V. (2.54%). On the downside, the weakerst performers were Davide Campari-Milano (-1.56%), Buzzi Unicem (-0.91%) and Tenaris (-0.71%).

The FTSE MIB Index Closes 0.80% Higher

The DAX Index rose 179 points or 0.70 percent on Thursday to close at 25717 points. Leading the gains are Porsche Automobil (4.32%), Qiagen NV (3.82%) and Siemens Energy (3.41%). Top losers were Fresenius Medical Care (-2.57%), Deutsche Telekom (-1.87%) and Adidas (-1.56%).

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