Market Update

There were 898,000 initial claims for unemployment benefits in the US during the week ending October 10th, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed last week’s print of 845,000 (revised from 840,000) and came in worse than the market expectation of …

The headline General Business Conditions Index of the NY Fed’s Empire State Manufacturing Survey declined to 10.5 in October from 17 in September. This reading missed analysts’ estimate of 15. “36% of respondents reported that conditions had improved over the month, while 25% reported that conditions had worsened.” “The new …

Employment in Canada decreased by 240,800 from August to September, the monthly data published by the ADP Research Institue revealed on Thursday. This reading followed August’s print of -770, 600 (revised from -205,400).

The headline Diffusion Index of the Federal Reserve Bank of Philadelphia’s Manufacturing Business Outlook Survey rose to 32.3 in October from 15. This reading beat analysts’ estimate of 14 by a wide margin.

The consumer price index in France declined during September on a monthly basis, according to analysts’ expectations. Final data issued by the French National Institute of Statistics and Economic Studies showed today, Wednesday, that the inflation rate in France recorded -0.5% during the month of September on a monthly basis, …

The UK government has imposed tougher restrictions on London to try to stop the spread of the Coronavirus. The UK capital will move to the so-called “high” alert level as of midnight Friday, up from the current “medium” alert level. This means that millions of people in the richest city …

The Australian dollar fell to its lowest level in a week after the head of the central bank hinted at a possible rate cut or bond purchase. In general, the atmosphere of risk aversion kept the US dollar supported and the rest of the major currencies on the defensive, unlike …

Oil prices plunged on Thursday, erasing earlier gains in the session, as a new spike in COVID-19 cases around the world reinforced concerns about economic growth and a recovery in fuel demand. European countries re-impose curfews and general isolation measures in light of the increase in new cases of Corona. …

Gold fell on Thursday, and lay below $ 1900, a psychological important level, as the dollar held on to recent gains after US Treasury Secretary Stephen Mnuchin dashed hopes for a new stimulus package before the presidential election. Spot gold fell 0.2% to $ 1897.47 an ounce, after rising 1.2% …

European stocks fell for the third consecutive session Thursday, as demand for global stocks was negatively affected by concerns about the economic damage resulting from more general isolation measures aimed at slowing the spread of the Corona virus and dashed hopes of fiscal stimulation in the United States before the …