06:35 AM EDT, 09/18/2025 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Thursday highlighted:

Markets: United States Treasuries rally after Federal Reserve decision, reverse sharply during press conference before stabilizing in Asia. SPX zig-zags, e-minis higher in Asia. EUR falls below $1.18 after briefly hitting $1.19 after Fed, Brent drops below $68/barrel.

Fed opts for "risk-management" cut by 25bps. Chair Jerome Powell says the balance of risks has shifted as jobs numbers suggest that the labor market is no longer solid, although there wasn't widespread support for 50bps. Risk of persistent inflation must continue to be managed.

==EUROPE:

ECB: Governing Council member Joachim Nagel says the European Central Bank is well-positioned to respond to unexpected changes and is well advised to remain cautious given uncertainties.

ECB sold over 150 million euros of Worldline bonds on Monday (FT).

France: Far-right RN leader Jordan Bardella tells Prime Minister Sebastien Lecornu that he must break with President Emmanuel Macron's policies, otherwise he will fall. RN's Marine Le Pen wants to hear Lecornu's budget proposals, calls on Macron to dissolve parliament or resign.

United Kingdom's EU minister Nick Thomas-Symonds says agreement to participate in the SAFE program is "urgent" after talks stalled over participation fee.

==ASIA:

China drops Google antitrust probe during US trade talks (FT).

Japan: The central bank's (BoJ) board members have expressed the view that it's too early to hike rates this week (Nikkei sources).