Foreign Exchange Market Update

November 14, 2025

Eurozone

Euro traded at 1.1617 against USD at 9:00 AM PST

Spain’s consumer price inflation hit its strongest in 16 months in October. Consumer price inflation climbed to 3.1% in October from 3.0% in September. This was the highest rate since June 2024. Underlying inflation rose to 2.5% from 2.4% in the previous month. Monthly, consumer prices increased by 0.7%, reversing a 0.3% decrease in September.

EU harmonized inflation rose to 3.2% from 3.0% in the previous month. At the same time, monthly HICP inflation climbed to 0.5% from 0.2%. 11/14/2025 - 08:54:00 (RTTNews)

France's inflation slowed in October due to the sharper decrease in energy prices. Consumer price inflation eased to 0.9% from 1.2% in September. This fall in inflation was largely driven by a sharp fall in energy prices, which slid 5.6%. Food price inflation eased to 1.3% due to the downturn in prices of fresh products, and service prices logged a steady growth of 2.4%. Month-on-month, the consumer price index edged up 0.1%, following September's 1.0% decrease. Core inflation softened to 1.2% from 1.3% in September.

EU harmonized inflation came in at 0.8% and September's 1.1%. Monthly, the HICP rose 0.1% after a 1.1% fall. 11/14/2025 - 07:59:00 (RTTNews)

Italy's foreign trade surplus increased in September from a year ago as exports grew faster than imports. The trade surplus rose to EUR 2.85 billion in September from EUR 2.32 billion in the same period last year. The surplus totaled EUR 1.9 billion in August. Excluding energy, the trade surplus amounted to EUR 6.24 billion.

Exports surged 10.5% from the previous year, reversing a 0.7% fall in August. Imports climbed 9.9% versus a 4.1% fall in the prior month. Outgoing flows to non-EU countries grew 10.9% from last year, and those to EU countries advanced by 10.2%.

On a seasonally adjusted basis, the trade surplus shrank to EUR 4.6 billion in September from EUR 5.2 billion in August. Both exports and imports rebounded by 2.6% and 4.1%. 11/14/2025 - 05:57:00 (RTTNews)

China Industrial Output, Retail Sales Growth Eases

China’s industrial production and retail sales grew at slower rates in October, and the investment downturn deepened further as economic activity weakened towards the end of the year. Industrial production logged an annual growth of 4.9% in October. This followed September's 6.5% expansion. The annual growth came in weaker and hit its slowest since August 2024. Retail sales growth eased marginally to 2.9% in October from 3.0% in September. Sales marked the slowest growth since last August.

During January to October, fixed asset investment decreased 1.7% from the same period last year. The decline deepened from the 0.5% fall logged in January to September. At the same time, property investment plunged 14.7% from the same period last year. 11/14/2025 - 03:48:00 (RTTNews)

Hong Kong Q3 Gross Domestic Product (GDP) Growth at 3.8%

Hong Kong's economy expanded in the three months ending in September, driven by a continued surge in exports and sustained expansion in domestic demand. GDP advanced 3.8% year-over-year in the third quarter, following a 3.1% growth in the second quarter. On a seasonally adjusted quarter-to-quarter basis, real GDP grew by 0.7% compared to the previous quarter.

The expenditure breakdown showed that private consumption expenditure grew 2.1% annually, reflecting the continued recovery of the local consumption market. Overall investment expenditure increased by 4.3%, in line with the economic expansion and stabilization in the residential property market.

Exports of goods logged a further sharp annual growth of 12.1%, fueled by strong demand for electronics-related products and buoyant regional trade flows in Asia. Exports of services also increased notably by 6.3%, supported by sustained increases in inbound tourism and cross-boundary traffic, as well as vibrant cross-boundary financial service activities.  11/14/2025 - 10:04:00 (RTTNews)