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Global Economy

German PPI (Aug YY) 4.6% vs. Exp. 4.1% (Prev. 3.0%)

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German wholesale inflation accelerated to 6.8% in August driven by energy costs, while ECB policymakers expressed concern after raising benchmark rates and upgrading regional inflation projections.

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Geopolitics

Source close to the Iranian negotiating team says Tehran has informed Washington, via intermediaries, of its conditions for reopening the Strait of Hormuz, with the minimum conditions based on the “Islamabad understanding”, according to Al-Akhbar

Geopolitics

UKMTO has received a report of an incident in the Strait of Hormuz; The CSO of a vessel has reported a tanker being hit by an unknown projectile causing a fire, which was extinguished