Foreign Exchange Market Update

October 29, 2026

United States

The U.S. economy grew in the third quarter of 2026, according to a report released by the Commerce Department on Thursday. The Commerce Department said real gross domestic product (GDP) shot up by 3.4% in the third quarter after jumping by 2.2% in the second quarter. The GDP growth reflected increases in investment, consumer spending, and government spending, partly offset by a drop in exports. The report also showed an increase in imports, which are subtracted in the GDP calculation.

Meanwhile, the report showed a downturn in exports, while imports increased more in the third quarter than in the second quarter. The personal consumption expenditure (PCE) price index jumped by 2.1% in the third quarter after surging by 5.0% in the second quarter, the Commerce Department said. The report also said the core PCE price index, which excludes food and energy prices, shot up by 2.5% in the third quarter after jumping by 3.3% in the second quarter. 10/29/2026 - 10:20:00 (RTTNews)

A report released by the Commerce Department on Thursday showed an increase in U.S. consumer prices in September. The Commerce Department said its personal consumption expenditure (PCE) price index climbed by 0.5% in September after rising by 0.3 in August. The report also said the annual rate of growth of the PCE price index accelerated from 3.4% in August to 3.6% in September. Excluding food and energy prices, the core PCE price index rose by 0.3% in September. The annual rate of growth of the core PCE price index ticked up from 3.0% in August to 3.1% in September.

The Federal Reserve's preferred readings on consumer price inflation were included in the Commerce Department's report on personal income and spending. The report said personal income crept up by 0.2% in September after rising by 0.3% in August. Meanwhile, the Commerce Department said personal spending climbed by 0.5% in September after jumping by 0.9% in August. Real personal spending, which excludes price changes, inched up by less than a tenth of a percent in September after rising by 0.5% in August. 10/29/2026 - 10:09:00 (RTTNews)

The Labor Department released a report on Thursday showing a slight dip in first-time claims for U.S. unemployment benefits in the week ending on October 24th. The report said initial jobless claims edged down to 194,000, a decrease of 1,000 from the previous week's level of 195,000. With the dip, jobless claims fell to their lowest level since hitting a multi-decade low of 189,000 in the week ending on July 18th.

The Labor Department said the less volatile four-week moving average also slipped to 196,750, a decrease of 1,250 from the previous week's average of 198,000. Continuing claims, a reading on the number of people receiving ongoing unemployment benefits, also fell by 21,000 to 1.701 million in the week ending on October 17th. The four-week moving average of continuing claims still crept up to 1,710,000, an increase of 500 from the previous week's average of 1,709,500. 10/29/2026 - 10:00:00 (RTTNews)

Eurozone

Euro traded at 1.1165 against USD at 9:00 AM PST

Eurozone economic confidence deteriorated to a four-month low in October as sentiment weakened across most sectors. The economic confidence index dropped from 97.5 in September to 96.9 in October. This was the lowest score since June. By contrast, the employment expectations indicator improved by 0.7 points to 98.2 in October. Industrial confidence strengthened in October with the index rising from -3.9 in September to -3.4. Meanwhile, the services confidence index declined to 5.3.

Consumer confidence weakened for the second month in a row. The index came in at -17.9 compared to -16.8 a month ago. The reading matched the flash estimate. At the same time, the retail trade confidence indicator dropped markedly from -6.5 to -8.0, mainly reflecting retailers' more negative assessment of the past business situation. Construction confidence also weakened as the index posted -5.9, down from -5.3 in September. 10/29/2026 - 07:12:00 (RTTNews)

Confidence among Italian households worsened further in October to the lowest level in nearly four years, while business confidence remained less pessimistic. Consumer sentiment dropped from 91.2 in August to 90.3 in September. Any score below 100 indicates a pessimistic outlook. Moreover, this was the lowest reading since November 2022. Both the economic and current sentiment weakened from 88.0 to 82.9 and from 90.4 to 88.7.

Meanwhile, the personal climate index rose from 92.4 to 93.0, and the future climate index remained stable at 92.3. The business confidence index climbed from 95.9 in September to 96.6 in October. Among components, manufacturing confidence held steady at 91.9. The survey revealed that morale strengthened in construction and market services. The unemployment rate in the country rose from 6.2% in August to a 16-month high of 6.3% in September. Meanwhile, the employment rate held steady at 63.0%. 10/29/2026 - 10:06:00 (RTTNews)

Spain's retail sales declined for the third month straight in September. Retail sales declined 1.4% on a yearly basis, after easing 0.5% each in July and August. This was the third consecutive fall. On an unadjusted basis, the annual decline in retail sales deepened from 1.1% in August to 1.6%. Retail sales posted a monthly fall of 0.4%, in contrast to the 0.2% increase seen in the previous month. Food sales grew 1.1%, while non-food sales dropped 0.9%. 10/29/2026 - 05:22:00 (RTTNews)

Singapore Producer Price Inflation Jumps to 47.5%

Singapore's producer price inflation quickened further in September amid higher prices of petroleum and petroleum products. The manufacturing producer price index surged 47.5% year-on-year in September, faster than the 40.1% growth in August, with the pace of increase picking up in recent months. The oil index climbed 58.9% annually in September, accelerating from the 48.1% increase in August. Similarly, the non-oil index rose at a faster pace of 45.8% versus a 38.9% increase a month ago.

Monthly, the manufactured products’ price index rose 5.3% after rising 4.4% in August. The oil index grew 7.9%, and the non-oil index was 4.8% higher. The monthly and yearly increases in the oil index were mainly driven by higher prices of petroleum and petroleum products, against the backdrop of the Middle East conflict. The domestic supply price index also logged a sharp growth of 48.0% yearly in September, following a 38.8% rise in August. 10/29/2026 - 03:38:00 (RTTNews)