Republican members of Congress blasted President Donald Trump’s decision to waive a tariff law passed last month to restrict Russian energy exports, arguing that the move will help Moscow wage its war on Ukraine.
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Also in United States: US consumer prices accelerate in September on costlier gasoline; core CPI firmer
Later report: Gold, silver diverge as Fed-pause expectations collide with rising crude prices Kitco ·
Citi’s shift removes one of the last prominent holdouts against a December hike, so the debate moves from whether the Fed tightens again to when. The swing in October pricing, which spiked after the data and then faded, shows traders are uncertain about the timing and are likely to react strongly to any Fed speaker who leans either way before the meeting. A higher-for-longer path, with cuts pushed out to mid-2027, tends to support the US dollar and Treasury yields and to weigh on rate-sensitive assets. The core detail matters most: inflation spreading beyond gasoline is harder for the Fed to look through than an energy spike alone. -- The hot CPI print was enough to turn Citi from a Fed sceptic into a December hiker, and markets are now asking whether October comes first. Summary: Citi now expects a 25bp Fed rate hike in December, after previously forecasting no further moves this year T
Later report: Euro: Bullish reversal builds above support – Scotiabank FXStreet ·
The comments support the view that the ECB can hold its nerve on an energy-led price shock, which should limit pressure for tighter policy in the near term and leave the euro without a fresh rate-driven boost. His attribution of higher yields to fiscal issues rather than inflation is notable for bond traders, since it suggests the ECB sees the selloff as a matter for governments rather than for monetary policy. That points to limited appetite to lean against yields through policy. Natural gas is the swing factor, and a cold start to winter would quickly test his relaxed stance and could revive hawkish pricing. Álvaro Santos Pereira is the governor of the Banco de Portugal, Portugal’s central bank. That makes him a member of the ECB’s Governing Council. The ECB can live with an energy shock as long as it stays an energy shock, and so far, says Santos Pereira, it has. Summary: ECB policyma
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