US futures turn positive after a rough start earlier in the day
At one point, US futures were down roughly 0.8% to 0.9% but dip buyers have stepped in over the past few hours to turn that all around now.

High inflation isn’t the main problem
But high inflation is.
I reckon that is a key distinction that needs to be made when viewing the current problems faced globally and how central banks are going to respond to that.

A quick pump in cryptos sees Bitcoin rise by nearly 10% to $47,770
After calmer tones earlier in the day, Bitcoin has shot up from just under $45,000 to a high of $47,770 and is holding that push in the past half-hour.

Minneapolis Fed president, Neel Kashkari, speaks to WSJ in an interview
– Comfortable with where the FOMC seems to be heading
– But does not believe Fed needs to raise rates until 2024
His remarks on tapering fits with what the Fed is priming for before year-end but his timeline on rates is arguably leaning more towards the

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“.