Market Drivers – European Session 15/9/2022

In his speech at the annual international conference of the Center for Research on Regulation and Supervision of the Financial Sector (CIRSF) on Thursday, European Central Bank Deputy Governor Luis de Guindos said that there are significant threats facing the future of the European Union’s financial system, which have made the outlook for the region’s economy full of limitations.

Oleg Aksyutin, Deputy Chief Executive Officer of Gazprom, said on Thursday that Europe had no other alternative other than Russian gas, as reported by Reuters.

Aksyutin added that no additional LNG supplies could be expected in global markets in the short term and argued that nearly-full EU gas inventories couldn’t guarantee a safe winter for Europe.

There were 213,000 initial jobless claims in the week ending September 10, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 218,000 (revised from 222,000) and came in better than the market expectation of 226,000.

Retail Sales in the US stayed increased by 0.3% to $683.3 billion in August, the data published by the US Census Bureau showed on Thursday. This reading followed July’s decrease of 0.4% (revised from 0%) and came in better than the market expectation for a no-change. Retail Sales ex Autos were down by 0.3%.