This post was originally published on this site.EUROPEAN SESSION In the European session, we get lots of Eurozone data but the main highlights will be the inflation reports for France, Spain and Germany. We have also the Eurozone GDP report but the focus will likely be on inflation, as the ECB signalled yesterday that it’s prepared to raise rates in December if the inflation outlook does not improve. Therefore, inflation data (especially core inflation) and the Middle East develpments will be key. At the moment, the market is pricing a 64% probability of a rate hike December.  AMERICAN SESSION In...

This post was originally published on this site. France October preliminary CPI +3.4% vs +3.2% y/y expected Prior +3.1% France October preliminary HICP +3.8% vs +3.6% y/y expected Prior +3.4% French inflation is seen accelerating again in October, as the preliminary estimates show headline annual inflation climbing to its highest since December 2023. Yowza. The main culprit is once again energy prices, as that continues to fuel much of the headline price increase. No pun intended. Of note, energy price inflation was up 24.1% annually in October compared to 21.3% in the month before. The detailed breakdown shows food price...