SocGen's Overnight Economic News Summary

06:07 AM EDT, 10/16/2025 (MT Newswires) -- Societe Generale in its early Thursday economic news summary pointed out:

-- New Zealand dollar (NZD) and sterling (GBP) claw back losses in G10, South Korea's won (KRW) extends recovery in emerging markets. French Prime Minister Lecornu faces two motions of no-confidence early Thursday, EUR/USD overcomes 50dma, next resistance 1.1693 (100dma), 1.1720. Option expiries 1.1650-55 (830 million euros), 1.1670-80 (470 million euros), 1.1700 (one billion euros). 10-year OAT/Bund steady at 78bps.

-- United Kingdom's August gross domestic product +0.1% month-over-month, +0.3% three-month/over/three-month, in line with forecast. Services flat, manufacturing 0.7%, construction -0.3%. Trade deficit widens to 21.1 billion pounds, goods exports -3.6%, European Union exports -5.3%, non-EU -2.1%.

-- Australian employment +14,900 in September, full-time +8,700, unemployment rate +0.2pp to 4.5%, Reserve Bank of Australia Q4 average forecast is 4.3%. AUD/USD -0.4% at 0.6480, 3three-year ACGB -9bps to 3.37%. OIS pricing 72% odds of November RBA cut, up from 39% on Wednesday.

-- Day ahead: United States retail sales, Federal Reserve speakers Waller, Barr, Miran, Bowman. European Central 0ank's Lagarde, Lane and Wunsch. Bank of England's Mann. Poland core CPI. Spain benchmark auction.

-- Nikkei +1.1%, EUR 10-year IRS unchanged at 2.58%, Brent crude +0.5% at $62.4/barrel, Gold +0.6% at $4,223/oz.

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