The German import price index, an early indicator of inflationary pressures, rose in September as a result of increasing oil and metal prices. Import prices of goods increased by an average of 1.3% year-on-year, while the increase compared to August was 0.6%.
As expected, the Ifo Business Climate Index for October in Germany recorded a decline to the lowest level in the last twenty months (since February 2006), standing at 103.9 during the observed period. The latest decline of this indicator is a result of the appreciation of the euro and rising crude oil prices that characterized the past period, which caused a drop in the manufacturing index.
The business confidence indicator for October in France, after 109 in September, recorded a level of 108 in October. The decline was in line with expectations. In the USA, the sale of new residential units recorded an expected decline, further confirming negative trends in the real estate market. According to data from Bloomberg, the market in the USA closed with the following values: EUR/USD = 1.4318, USD/JPY = 114.05, GBP/USD = 2.0509, USD/CHF = 1.1655. (RBA)
