Euro zone M3 money supply unexpectedly picked up in August

European shares opened in positive territory, but soon reversed their gains. The Dax underperforms, losing more than 1%, after Deutsche Bank shares hit a record low. US Equities opened slightly lower.
Saudi Arabia and Iran dashed hopes that OPEC oil producers could clinch an output‐limiting deal in Algeria this week as sources within the group said the differences between Saudi Arabia and Tehran remained too wide. Both the Brent and WTI oil price dropped more than 2% today with the Brent hovering around $46/barrel.
British retail sales fell unexpectedly this month after a strong showing in August, the CBI survey showed, but retailers expected sales to recover in October.
Euro zone M3 money supply unexpectedly picked up in August, accelerating to 5.1% Y/Y from 4.9% Y/Y in July. Lending data were however slightly disappointing with loans to non‐financial corporations falling from the previous month, while lending to households accelerated slightly.
The World Trade Organization cut its forecast for global trade growth this year to 1.7% from 2.8% in April, reflecting a slowdown in China and falling levels of imports into the United States.

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EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.