Today Italian inflation is on the agenda, but all eyes are on the Arab-Israeli conflict
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Asian stock markets fall in the first session of the week. The worst is the Tokyo stock market which opened lower, following the mixed closing of the US stock indices and the sales in the technology sector, awaiting the third quarter GDP data in China and the indications on inflation in Japan. The NIKKEI 225 it marked a decline of 1.15% to 31,943.37, leaving 372 points on the ground, then reaching a loss of 2.11%.
On the currency market, the yen interrupts the weakening phase against the dollar, trading at 149.50, and strengthens against the euro at 157.30.
Lo Yen it is one of the currencies considered a safe haven asset and benefits from the rush of investors towards safe havens; not enough, however, to compete with the demand for dollars, the safe haven par excellence. The Japanese currency, in fact, depreciated against the US currency, but gained against the euro.
Pay attention to the shopping cart
Today’s macroeconomic agenda includes Italian inflation in September. In the first estimate, the change in consumer prices was +0.3% on a monthly basis and +5.3% on an annual basis.
It is also important to monitor the shopping cart, which in the latest survey was rising at a rate of +8.3%.
Focus on the conflict
However, investors’ attention is focused on the conflict between Israelis and Palestinians for fear of escalation, especially if they were to officially involve Iran.
Gas and oil are under pressure precisely due to the repercussions on the availability of fuels due to possible blockages in supplies by Arab countries and their supporters
Lo spread
The BTp suffers from the rush to safe-haven government bonds such as Bunds and Treasuries and suffers from the widening of the spread of the yield compared to German government bonds, which for the ten-year bond rose above 200 basis points.
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