It is all about supply chain disruptions
This has been a topic that has been ongoing since the middle of the year but has grown in intensity over the past few months, especially when it comes to how all of this impacts inflation – something I talked about at the start of August .

Latest data released by Destatis – 30 September 2021
– +3.4%
– CPI +4.1% vs +4.2% y/y expected
– Prior +3.9%
This fits with expectations laid out by the state readings earlier, as outlined . In any case, it just reaffirms a further rise in German annual inflation (even if the month-on-month readings were not as drastic). Base

Forex news from the European trading session – 30 September 2021
Headlines: 
Markets:
– AUD leads, EUR lags on the day
– European equities higher; S&P 500 futures up 0.4%

EUR/USD falls to 1.1580, its lowest since July last year
Amid the focus on month-end and quarter-end, just be wary that the technicals may offer the most clarity when it comes to trading sentiment today.

It is tough to argue with the charts right now
As much as the dollar gains since yesterday may be in part to do with month-end and quarter-end flows, the charts are making it tough to really dismiss the significance of the moves as September looks to draw to a close.

Remarks by ECB policymaker, Mario Centeno
As much as policymakers are still trying to reassure that team ‚transitory‘ is right, persistent supply chain disruptions through to next year will continue to pose a big problem to the narrative or definition of what is supposed to be „temporary“.

Bids across the board for the greenback
The dollar is continuing its solid push higher over the past week as we are seeing a couple of technical plays come into play at the moment:

Reuters with the headline
In case you missed it, but it is being reported that some offshore bondholders did not receive the payment by the end of the Asia business time deadline.

Latest data from the Mortgage Bankers Association for the week ending 24 September 2021
–  +4.9%
– Market index 734.9 vs 742.7 prior
– Purchase index  vs 283.9 prior
After gains in the previous week, activity fell as higher rates took some wind out of the sails in the mortgage market. Both purchases and refinancing activity also fell by

Powell, Lagarde, Bailey, and Kuroda will be participating in a policy panel together at the ECB forum on central banking
The panel discussion is scheduled to begin at 1545 GMT and last for about an hour but just be wary that the key topic for today’s session is the „structural change and the implications of climate