Foreign Exchange Market Update

September 29, 2026

United States

The Labor Department released a report on Tuesday showing job openings in the U.S. had decreased in August. The report said job openings slid from 7.335 million in July to 7.079 million in August. Hires rose from 5.146 million in July to 5.192 million in August, while total separations dipped from 5.128 million in July to 5.070 million in August. Within separations, quits edged down from 3.089 million in July to 3.066 million in August, while layoffs and discharges slipped from 1.702 million in July to 1.641 million in August. 09/29/2026 - 10:28:00 (RTTNews)

U.S. consumer confidence showed a notable deterioration in September. The consumer confidence index slumped from 88.6 in August to 81.9 in September. The present situation index, which is based on consumers' assessment of current business and labor market conditions, tumbled from 117.2 in August to 109.3 in September. The expectations index, which is based on consumers' short-term outlook for income, business, and labor market conditions, also fell from 69.5 in August to 63.6 in September. 09/29/2026 - 10:14:00 (RTTNews)

Eurozone

Euro traded at 1.1327 against USD at 9:00 AM PST

Eurozone economic confidence weakened in September due to the fall in consumer sentiment. The economic sentiment index dropped from 98.4 in August to 97.9 in September. Industrial and services confidence strengthened, while retailers' sentiment dropped slightly.

Industry confidence improved further in September, thanks to sizeable improvements in managers' production expectations and assessments of current levels of overall order books. The corresponding index climbed to -3.8, the highest since April 2023, from -5.0 in the prior month.

At the same time, the services confidence index moved up from 5.6 a month ago to an eight-month high of 6.1. The consumer confidence index (CPI) hit a three-month low at -16.5. It was down from -15.5 in August. Confidence among contractors remained unchanged in September, with the index score at -5.0. Further, the employment expectations index slid from 98.8 in August to 97.5 in September. 09/29/2026 - 08:30:00 (RTTNews)

Spain inflation rose to the highest level in three-and-a-half years in September on fuel prices. Consumer price inflation accelerated from 4.3% in August to 4.9% in September. This was the highest rate since February 2023, when inflation stood at 6.0%.

Likewise, EU harmonized inflation rose from 4.6% in the prior month to 5.0%. Underlying inflation advanced from 2.9% in August to 3.1%. The rate marked the strongest since March 2024. Monthly, growth in consumer prices slowed notably from 0.7% in the prior month to 0.3%. The harmonized index of consumer prices (HICP) climbed 0.6% after rising 0.7% in August. 09/29/2026 - 06:22:00 (RTTNews)

Italy's producer price inflation accelerated in August to the highest level in more than three-and-a-half years amid higher energy costs. The producer price index (PPI) climbed 10.9% year-over-year in August, faster than the 7.7% increase in July. Moreover, this was the highest inflation since January 2023, when prices surged 11.1%.

The acceleration in inflation was mainly driven by 34.5% higher costs for energy. Prices for intermediate goods increased 5.9%, and those for capital goods rose by 2.4%. Costs for consumer goods moved up 0.8%. Monthly, producer prices rose 2.4% after rising 2.3% in July. Industrial sales rebounded 1.7% monthly in July, following a 0.9% fall in June. Annually, the growth in industrial turnover was 4.8%. 09/29/2026 - 06:50:00 (RTTNews)

Australia Lifts Interest Rate to 4.60%; Highest Since Late 2011

The Reserve Bank of Australia raised its benchmark rate by a quarter-point on Tuesday, taking it to a 15-year high, as risks to inflation materialized amid geopolitical tensions. The policy board, governed by Michele Bullock, unanimously decided to raise the cash rate target to 4.60%, the highest level since late 2011. The decision marked the third-rate hike at the beginning of the year, further tightening financial conditions across the economy. Although the economy showed signs of slowing, inflation remained high.

"...inflation is still too high and the Board judged that, in light of recent developments, a further tightening in financial conditions is warranted to support a return of inflation to target in a reasonable period," the bank said in a statement. The Board said it will continue to do what is necessary to bring inflation sustainably back to target, including raising the interest rate further if needed. 09/29/2026 - 05:52:00 (RTTNews)