German producer prices are expected to continue in deflation for September, which has been a persistent trend for over a year. This deflation is likely to increase expectations for further rate cuts from the European Central Bank, as producer prices are seen as a more accurate reflection of corporate pricing power compared to consumer price data.

In China, the central bank has lowered reference rates for personal and business mortgages, as anticipated. This move indicates the authorities' commitment to providing significant support to the economy. However, there are concerns that reducing credit costs may not fully address the underlying issues affecting domestic demand.

In the United States, the Federal Reserve is facing increased scrutiny as several officials, including Chair Powell, are scheduled to speak. Powell's emphasis on a "data dependency" approach has introduced uncertainty about future policy directions, especially given the questionable quality of available data. Additionally, the recent dissent at the September policy meeting raises further questions about the Fed's trajectory. As the US election season intensifies, economic factors seem to be less important than political dynamics, with investors currently focusing less on policy proposals.