Market Drivers – European Session 14-10-2021

During the European trading session today, the market held a similar tone to its trajectory yesterday, as stocks are recovering modestly after the setback that occurred in the trading stages this week.

European indices maintained their gains, while US futures pointed to solid gains as bond yields continued to decline, with 10-year Treasury yields slipping to 1.528%.

The dollar fell against major currencies on Thursday, hitting a 10-day low, reversing its recent rally, while the Australian and New Zealand dollars rose.

Following Wednesday’s impressive upsurge, gold preserved its bullish momentum in the first half of the day Thursday and touched $1,800 for the first time since mid-September.

The US Bureau of Labor Statistics announced Thursday that the Producer Price Index (PPI) in the US rose to 8.6% year on year in September from 8.3% in August. This reading came in just below market expectations of 8.6%.

While the data published by the US Department of Labor (DOL) today, Thursday, revealed that there were 293,000 initial claims for unemployment benefits in the United States during the week ending October 9.

Highlights

Weekly Initial Jobless Claims Decline to 293K

Oil Prices Rise on Thursday as US Inventories Fall

German Economy Ministry: Significant GDP Increase is Likely in Q3