KBC Market Research Desk
KBC Bank
European shares post limited gains, as the lower core CPI keeps speculation on further ECB action alive. US Equities opened slightly lower and dropped further after the disappointing Conference Board’s consumer confidence.
Conference Board’s consumer confidence weakened unexpectedly in September. After reaching a new post‐crisis high, consumer confidence dropped from 93.4 to 86.0, mainly due to a weakening in the expectations index, while also the labour market differential worsened.
Russia’s central bank is weighing the introduction of temporary capital controls if the flow of money out of the country intensifies, Bloomberg reports citing two people with knowledge of the matter. The Russian rouble dropped to a new low against the US dollar.
The Norwegian crown strengthened after the central bank said it will make daily purchases in the crown to cover the government’s non‐oil related budget deficit. The EUR/NOK exchange rate is now close to the recent lows around 8.10.
This non-exhaustive information is based on short-term forecasts for expected developments on the financial markets. KBC Bank cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct or consequential loss arising from any use of this document or its content. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. Although information has been obtained from and is based upon sources KBC believes to be reliable, KBC does not guarantee the accuracy of this information, which may be incomplete or condensed. All opinions and estimates constitute a KBC judgment as of the data of the report and are subject to change without notice.
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