New York Federal Reserve (Fed) Bank John Willams said in a panel discussion at Oxford University on Friday that although tariffs and higher energy prices don’t to a sustainable inflation. However, repeated supply shocks are keeping price pressures higher.

Japanese Finance Minister (FM) Satsuki Katayama stresses on Bank of Japan’s (BoJ) independence while speaking during the European trading session on Friday. This is the second time in the day when Katayama has delivered remarks on economy and currency.

Bank of England (BoE) Governor Andrew Bailey said on Friday that the pass-through from higher energy prices remains “quite subdued” so far, while stressing that it is still early days.

Commerzbank’s India section notes September flash PMIs pointing to stronger end-Q3 activity, with both manufacturing and services indices well above 50. Domestic demand is robust, but elevated input and output prices, especially in manufacturing, keep upside inflation risks high.

OCBC strategists Sim Moh Siong and Christopher Wong note that the Swiss National Bank (SNB) kept rates at 0% and toned down its FX intervention language, signalling more tolerance for a firmer Swiss Franc but not a hawkish shift.

ING strategist Frantisek Taborsky reports that volatility in core rates and high Oil and gas prices are driving elevated tightening expectations across CEE, with roughly 125bp priced for Poland and the Czech Republic.

Commerzbank’s Tatha Ghose notes the National Bank of Hungary paused cuts at 5.50% but lowered its medium‑term inflation target to 2.5% while simultaneously lifting 2027 inflation forecasts.

Standard Chartered’s Christopher Graham examines whether the Bank of England will feel pressured to follow the Federal Reserve’s September rate hike. He notes that Fed tightening alone does not force the BoE to act and stresses the role of UK data and market credibility.

Deutsche Bank strategists report renewed pressure on global equities as surging bond yields and higher Oil prices weigh on risk assets. The S&P 500 slipped for a third session despite a late recovery, while European indices saw broader declines.

USD/JPY halts its five-day winning streak, trading around 158.10 during Asian hours on Friday. The currency pair depreciates as the Japanese Yen (JPY) gathers support. Market participants are remaining on high alert, anticipating potential market intervention by Japanese authorities.

The USD/CAD pair gathers strength to around 1.4150 during the early European trading hours on Friday. Mounting bets on further Federal ‌Reserve (Fed) rate hikes provide some support to the US Dollar (USD) against the Canadian Dollar (CAD).

Gold prices fell in India on Friday, according to data compiled by FXStreet.

Japanese Finance Minister (FM) Satsuki Katayama said on Friday that the latest rate hike from the Bank of Japan (BoJ) was done to achieve the inflation target. Katayama added that she expects the central bank to conduct appropriate monetary policy while coordinating with the government.

Chinese President Xi Jinping stated during his visit to Washington that Beijing and Washington must find a proper way to coexist peacefully and act as partners rather than rivals, the Financial Times reported on Thursday.

Yemen's Houthi claimed on Thursday that it launched dozens of ballistic missiles and drones at Saudi military installations in the kingdom's southwestern Jazan region, the Saudi-led coalition in Yemen said were aimed at Taif in western Saudi Arabia and the Yanbu area on the Red Sea.

Iranian President Masoud Pezeshkian said that it is for the United States (US) to decide whether to end its war against the Islamic Republic, as Tehran does not wish to continue fighting, Fox News reported on Thursday.

Commerzbank’s Henry Hao and Moses Lim report that Bank Indonesia kept the BI Rate at 5.75% while expanding FX hedging incentives to support the Indonesian Rupiah. Governor Destry Damayanti signaled a preference for non-rate tools and incentive-based measures over SRBI yield hikes.

Rabobank’s Molly Schwartz and Christian Lawrence note Banxico kept its overnight rate at 6.50% but significantly softened forward guidance, decoupling Mexican policy from expected Federal Reserve moves.

Brown Brothers Harriman’s (BBH) Elias Haddad highlights that the Norwegian Krone (NOK) outperformed after Norges Bank delivered a hawkish 25 basis point hike to 4.50%.

Commerzbank’s Dr. Henry Hao and Moses Lim note that Singapore’s August headline and core inflation both climbed to the upper half of the Monetary Authority of Singapore’s 2026 forecast range, with services, retail goods, food and utilities all contributing.

Brown Brothers Harriman notes the Swiss Franc underperformed as the Swiss National Bank (SNB) kept its policy rate at zero for a fifth straight meeting and resisted market expectations for future hikes.

According to Reuters, US and Iranian negotiators are discussing a phased agreement to end the conflict.

Standard Chartered argues that Europe’s political balance could shift to the right in 2027, with key elections in France, Spain, Italy and Poland. The bank highlights France’s presidential race as most critical, warning an RN victory would be market negative.

Commerzbank’s Chief Economist Dr. Jörg Krämer notes that leading indicators such as the Ifo business climate index and PMIs have surprised to the upside, showing the German economy’s resilience to high energy prices and the Iran War.

China's paramount leader Xi Jinping's remarks at the White House ran to 21 lines on the wires, covering friendship, artificial intelligence (AI), counter-narcotics work and fair treatment for Chinese firms, and none of them mentioned tariffs.

ING’s James Knightley and Coco Zhang argue that US manufacturing is finally reviving after years of stagnation, helped by reshoring narratives, AI-driven investment and defence spending.

Philadelphia Fed President Anna Paulson crossed the wires on Thursday, signaling that further rate hikes may be needed to lower inflation. She acknowledged that the rate hike in September helped to “move policy to better inflation-fighting posture.”

Bank of England (BoE) Deputy Governor Sarah Breeden said on Thursday that it is “not at all obvious” that there is a path toward lower energy prices, according to Reuters.

Royal Bank of Canada economist Rachel Battaglia explains that Statistics Canada’s upward revision to population data has erased earlier signs of negative growth and now shows Canada’s population rising 0.5% year-over-year in Q2.

Cleveland Federal Reserve (Fed) President Beth Hammack warned on Thursday that inflation remains elevated in the United States (US), stressing that persistent price pressures could make the Fed’s task increasingly difficult.