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Overnight, the day ahead
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The dollar is soft despite hot US inflation: Thursday's September producer prices ran 6.3% against 5.3% expected, yet the 10-year Treasury yield fell to 5.09%. Fed Chair Warsh gave no rate guidance overnight, with October hike odds near 27%, so further yield declines could keep pressure on the dollar against the euro and sterling. Trump said US strikes on Iran remain possible, with WTI at $97.59 Thursday. Watch eurozone final inflation at 09:00 UTC and US industrial production at 13:15 UTC.
Next on the calendar (UTC)
- 09:00: Eurozone final September CPI, forecast 3.8% year on year. The ECB schedule lists 12:00, so timing differs by source.
- 12:30: US import prices, forecast 0.9% month on month, previous 0.7%.