Foreign Exchange Market Update

September 15, 2026

New York Manufacturing Index Pulls Back Sharply but Remains Positive

The Federal Reserve Bank of New York released a report on Tuesday showing its reading on regional manufacturing activity had fallen in September while still indicating growth. The New York Fed said its general business conditions index slumped from 20.6 in August to 7.6 in September. The pullback by the index came a month after it jumped to its highest level in over four years.

A downturn in shipments weighed on the headline index, with the shipments index tumbling from a positive 11.7 in August to a negative 3.2 in September. The new orders index also plunged from 17.3 in August to 2.0 in September, indicating a notable slowdown in the pace of growth.  Meanwhile, the report said the number of employees index crept up from 9.3 in August to 10.6 in September, suggesting solid growth in employment levels. The prices paid index also climbed from 58.6 in August to a four-year high of 63.1 in September, while the prices received index rose from 22.7 in August to 28.1 in September. 09/15/2026 - 09:30:00 (RTTNews)

Eurozone 

Euro traded at 1.1543 against USD at 9:00 AM PST

Germany's wholesale prices increased at the fastest pace since 2023 as the conflict in the Middle East pushed up energy and raw material prices. Wholesale prices rose 6.8% year-on-year in August, up from 5.3% in July. This was the strongest rise since February 2023.  The main reason for the annual increase in wholesale prices was a 36.1% surge in mineral oil product prices. The rise in wholesale prices of non-ferrous ores, non-ferrous metals, and non-ferrous semi-finished metal products also had a considerable impact on the overall increase. Monthly, wholesale prices rose 0.9% in August, faster than the 0.2% increase in July. 09/15/2026 - 07:36:00 (RTTNews)

French consumer price inflation (CPI) increased in August, while harmonized inflation increased slightly. Consumer price inflation rose to 2.4% in August, a three-month high, up from 2.1% in July.  At the same time, EU harmonized inflation rose from 2.4% in the previous month to 2.6%. The increase was primarily explained by the 16.7% acceleration in energy prices. Food prices grew 1.1%, and services inflation came in at 1.9%. Core inflation eased from 1.3% in July to 1.1% in August. Monthly, consumer prices climbed 0.7% after rising 0.6% in the prior month. Meanwhile, the monthly increase in the harmonized index of consumer prices (HICP) was down from 0.8% to 0.7%. This followed a 0.6% rise in July. 09/15/2026 - 08:29:00 (RTTNews)

Spain's inflation accelerated to the highest level in more than three years in August. Consumer price inflation (CPI) rose from 3.6% in July to 4.3%. The latest figure was the highest since February 2023, when inflation was 6.0%. Meanwhile, EU harmonized inflation advanced from 3.9% to 4.6%. Month-on-month, the consumer price index posted an increase of 0.7%, faster than the 0.3% rise in July. The harmonized index of consumer prices (HICP) climbed 0.7% and followed a flat growth in July. 09/15/2026 - 08:52:00 (RTTNews)

United Kingdom Jobless Rate Remains Unchanged

British Pound traded at 1.3482 against USD at 9:00 AM PST

The United Kingdom unemployment rate remained unchanged, and wage growth eased in the three months to July period, reflecting softer labor market conditions. The unemployment rate stood at 4.9% in the three months to July, the same rate as the quarter ending in June. In the three months to July, average earnings excluding bonuses increased 3.5% from last year, unchanged from the preceding period. Including bonuses, earnings rose 3.9%, which was weaker than the 4.2% rise in the three months to June. From July to August, payrolled employees decreased by 26,000 to 30.2 million. The number of vacancies fell by 8,000 to 702,000 in the period from June to August. 09/15/2026 - 03:43:00 (RTTNews)

China Industrial Output Strengthens; Retail Sales Miss Forecast

China's industrial production growth accelerated in August on robust foreign demand, while retail sales logged weaker growth and the fixed-asset investment downturn worsened further, underscoring the challenges in achieving the official growth target this year. Industrial production increased 5.2% on a yearly basis in August, faster than the 4.5% rise in July.  Retail sales rose moderately by 0.4% from last year. This was slower than the 0.6% growth seen in July. From January to August, fixed asset investment declined by 7.2% from the same period last year. At the same time, property investment plunged 19.9%. In August, the urban unemployment rate rose from 5.2% in July to 5.3%. 09/15/2026 - 05:54:00 (RTTNews)