EUR/USD
1.17525
-0.282%
Gold
3652.11
0.212%
Oil
62.826
-0.732%
USD/JPY
148.015
0.019%
GBP/USD
1.34834
-0.512%
GBP/JPY
199.580
-0.482%
Real-time News
On September 19th, UK public sector borrowing increased significantly in August, placing additional pressure on Chancellor of the Exchequer Reeves ahead of the November budget. Joe Nellis, an economic advisor at the MHA, noted, "The Chancellor will have to make some extremely difficult, yet crucial, decisions in the budget if fiscal stability is to be maintained." He stated in a report that the UKs larger-than-expected deficit was primarily due to high interest costs on inflation-linked bonds—the 30-year government bond yield hit a nearly 30-year high in August. Increased welfare spending and an upward revision to public sector wage bills also contributed. Nellis stated that with the economy continuing to weaken and lacking stable, sustained growth, the governments increased borrowing is further constricting its fiscal space ahead of the budget.The Hang Seng Index in Hong Kong closed up 0.25 points, or 0.0%, at 26,545.1 points on Friday, September 19; the Hang Seng Tech Index closed up 23.2 points, or 0.37%, at 6,294.42 points on Friday, September 19; the CSI 300 Index closed up 15.83 points, or 0.17%, at 9,472.35 points on Friday, September 19; and the H-share Index closed down 131.6 points, or 3.09%, at 4,126.05 points on Friday, September 19.Intel (INTC.O) fell 2.2% in pre-market trading, after surging more than 22% in the previous trading day.September 19th: Advances in electronic trading may be suppressing volatility in the foreign exchange market, making sustained large swings a thing of the past. This was the view of some attendees at this weeks TradeTech forex conference in Barcelona, where the impact of increasing automation and algorithmic trading was a hot topic. Despite daily trading volume reaching $7.5 trillion, volatility in the foreign exchange market has fallen to near a one-year low. Gordon Noonan, head of foreign exchange trading at Schroders, cited the FX fluctuations following the release of the non-farm payroll data as evidence of the "frenzied" growth of electronic trading. Interest rate spreads, which used to widen for extended periods, now normalize within 30 seconds. Flash crashes, which were sporadic a few years ago, are now almost nonexistent. Noonan even suggests that professional forex traders may no longer be needed in the future. Furthermore, a survey by the London Stock Exchange shows that forex trading firms continue to prioritize investment in technology this year, with companies preferring to rely on machines rather than employees to gain a competitive advantage in an increasingly automated market.On September 19th, Berenberg Bank analysts noted that automakers may face continued volatility in the short term, but third-quarter sales in Europe and the United States started relatively well. The analysts added that despite ongoing pricing pressure, strong product launch momentum from the second half of 2025 through 2026-2027 should provide support. Tariff headwinds will continue to squeeze profit margins until the US reduces the current 27.5% tariff on European vehicles to 15%. The banks top picks are BMW, Ferrari, and Renault: BMWs fundamentals remain solid, Ferraris consensus earnings forecast for 2026-2027 has room for upward revisions, and Renaults valuation remains attractive. The firm also upgraded its European rating on Stellantis to "buy" from "hold," raising its target price from 9 euros to 9.50 euros.
