S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
The European Central Bank has raised rates by 25 basis points, bringing the deposit rate to 2.5%. The decision had already been fully priced in by investors, which explains why the market reaction has been muted so far. Figure 1: EURUSD (August 2025 – September 2026)
Source: tm Research, 10.09.2026 The euro is weakening against the dollar today by around 0.2%, though this appears to be driven primarily by further rises in the prices of crude oil and LNG. A barrel of Brent currently costs nearly $104. Figure 2: Brent and WTI Crude Oil (2026)
Source: XTB Research, 10.09.2026 The conference is now underway, and for a change, it is being held in Berlin.
- The economy proved resilient despite the energy shock. Growth was broad based.
- Manufacturing continues to grow solidly.
- The labour market has reamaind robust.
- The near term growth outlook has improved.
- Core inflation and services inflation both edged down last month.
- Wages do not show a material response to the energy shock.
- The ECB wage tracker points to 2.7% in H1.
- Most measures of long term inflation expectations stay close to 2%.
- Higher energy prices are expected to feed through to core and food inflation.
(the article is updated live)
