On the data front, the minutes of the ECB’s latest meeting indicated that the central bankers see the current levels of rates as “sufficiently robust” to manage shocks and set the bar high for any further policy easing. Other data reveled German exports unexpectedly fell by 0.5% m/m in August weighed down by weaker demand from the US.
In commodities markets, crude prices fell, with the barrel of Brent approaching $65, on news that Israel and Hamas agreed to a ceasefire and hostage exchange. Elsewhere, the yen continued to weaken amid ongoing concerns of Japan’s fiscal trajectory.
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