Bitcoin down over 5% to $42,300 currently
It has been one way traffic for cryptocurrencies after the China headlines earlier, with Bitcoin down over 5% currently and erasing the gains from yesterday.

Forex news from the European trading session – 23 September 2021
Headlines:
Markets:
– CAD leads, JPY lags on the day
– European equities higher; S&P 500 futures up 0.6%

Some slight hawkish undertones as the BOE prepares itself for the possibility of a rate hike, if need be
The pound is getting a lift after the BOE decision today as they stuck with the status quo for the most part but also offered up some hawkish elements for the bulls to chew at.

BOE announces its September monetary policy decision – 23 September 2021
– UK Q3 GDP expectations revised down by around 1% since August
– Downward revision reflects emergence of supply constraints on output
In terms of overall key messaging, I don’t see much change in the language – if any at all. The BOE remains cautious about the

Remarks by BOE deputy governor, Sam Woods
This adds to the list of central bankers who are seemingly less worried about how things with Evergrande are going to play out at the end of the day. Adam provided some colour on that in his post yesterday .

Reuters reports, citing sources familiar with the matter
The report says that policymakers at the ECB are seeing the risk of inflation being more „sticky“ and exceeding projections, with some anticipating inflation to be at 2% or above next year – which should pave the way for an end of PEPP purchases in March.

Forex news from the European trading session – 22 September 2021
Headlines:
Markets:
– CAD leads, JPY lags on the day
– European equities higher; S&P 500 futures up 0.5%

Remarks by ECB policymaker, Madis Muller
Well, Muller is among the more hawkish members at the ECB – alongside the likes of Weidmann and Knot – so it isn’t too surprising to see such a remark.

China cabinet out with some remarks
The remarks here aren’t anything new but the timing here is the most important thing. In other words, China is giving some reassurance that they will stick with supportive measures for the economy and not threaten any major destabilisation.

Latest data from the Mortgage Bankers Association for the week ending 17 September 2021
–  +0.3%
– Market index 742.7 vs 707.9 prior
– Purchase index 283.9 vs 277.9 prior
The jump in mortgage applications in the past week owes mostly to a surge in refinancing activity, though purchases also crept higher as well. That reaffirms sentiment that demand