ECB’s Pereira: The good news is that inflation is not spreading

Dhwani Mehta FXStreet

European Central Bank policymaker and newly appointed Portugal central bank governor Alvaro Santos Pereira made some comments on inflation, yields, and energy prices during his speech on Thursday.

Key quotes

Yields rise is more related to fiscal issues.

If we have a winter like last year, then we have a problem with natural gas prices.

The good news is that inflation is not spreading.

If inflation starts broadening, central banks will be forced to act.

Growth is surprising on the upside, wouldn't be surprised if it continued in next few months.

Market reaction

At the time of writing, EUR/USD is up 0.53% on the day at 1.1211, unperturbed by these comments.

Euro Price Today

The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the Australian Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.45%	-0.30%	-0.36%	-0.14%	0.32%	-0.29%	-0.60%
EUR	0.45%		0.14%	0.09%	0.28%	0.80%	0.14%	-0.15%
GBP	0.30%	-0.14%		-0.06%	0.14%	0.62%	0.00%	-0.31%
JPY	0.36%	-0.09%	0.06%		0.19%	0.69%	0.03%	-0.26%
CAD	0.14%	-0.28%	-0.14%	-0.19%		0.48%	-0.14%	-0.45%
AUD	-0.32%	-0.80%	-0.62%	-0.69%	-0.48%		-0.62%	-0.93%
NZD	0.29%	-0.14%	0.00%	-0.03%	0.14%	0.62%		-0.32%
CHF	0.60%	0.15%	0.31%	0.26%	0.45%	0.93%	0.32%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

AUD/USD drops to one-week low, below 0.6950 on weak Aussie jobs data

AUD/USD attracts some sellers in reaction to disappointing Australian jobs data, extending the previous day's retracement slide from the monthly high and hitting a fresh weekly low during Thursday’s Asian session. Meanwhile, declining US bond yields drag the US Dollar away from the April 2025 high, touched after Wednesday's hot US CPI, helping limit losses for the currency pair.

USD/JPY slides back below 158.00 as USD reverses post-CPI gains

USD/JPY extends the previous day's pullback from a three-week high, attracting follow-through selling and sliding below 158.00 during Thursday's Asian session. Traders remain on high alert amid speculation that authorities will step in to prop up the Japanese Yen. The US Dollar, meanwhile, reverses Wednesday's hot CPI-led gains to April 2025 highs as US bond yields retreat, further pressuring the currency pair.

Gold recovers to $4,150 as retreating US bond yields weigh on USD

Gold attracts strong buying during the Asian session on Thursday, snapping a three-day losing streak to a one-week low. Retreating US bond yields drag the US Dollar away from the April 2025 high, touched in reaction to Wednesday’s hot US CPI report, and boost the non-yielding bullion. That said, energy-driven inflation risks keep bets of a Fed rate hike firmly on the table, which should cap the precious metal.

Bitcoin falls on hot CPI: Why $80,000 support matters

Bitcoin's (BTC) most critical level to watch is near $80,000 as September's hot inflation reading pressures the crypto market, according to Glassnode. The top crypto declined within minutes of the September Consumer Price Index (CPI) release, which showed a 3.7% annual increase in headline inflation, above forecasts of 3.6%. Core inflation, which excludes food and energy prices, came in at 2.6%.

Stock futures just went red on the CPI. Here's what the bond market is pricing that equities haven't caught up to

Since late June, the bond market has been pricing in a Federal Reserve that keeps raising rates into 2027, and most US stocks have already been marked down for it. The S&P 500 hasn't, because a handful of AI-linked giants make up much of the index and their prices haven't followed the rest.

Has Bitcoin really escaped the macro forces it was built to fight?

Over 17 years ago, Satoshi Nakamoto designed Bitcoin (BTC) on the back of a global financial crisis as an alternative to the global monetary system outside the control of central banks, governments and traditional intermediaries. This raises a key question: has Bitcoin really become independent of the macroeconomic forces it was built to challenge?