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Market Analysis

October, 2020

  • 1 October 2020 8:51 pm

    Unemployment in Europe Continues to Increase

    The seasonally adjusted unemployment rate in the Eurozone has continued to rise for the fifth consecutive month in August, reaching 8.1%, according to data released by Eurostat on Thursday. Unemployment rate in the European Union (EU) reached 7.4% in August.

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  • 1 October 2020 7:26 pm

    USD Maintains Downward Trend

    The US Dollar (USD) is maintaining its downward trend against major currencies on Thursday, moving during the first session of the month of October in the negative territory. The Dollar index (DXY), which measures the performance of the USD against a basket of six international currencies, is down for the …

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  • 1 October 2020 7:21 pm

    US: ISM Manufacturing PMI Declines in September

    The economic activity in the US’ manufacturing sector expanded in September than it did in August with the ISM’s Manufacturing Purchasing Managers’ Index (PMI) edging lower to 55.4 from 56. This reading came in worse than the market expectation of 56.3 Further details of the publication revealed that the Prices Paid …

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  • 1 October 2020 6:29 pm

    US: Annual Core PCE Price Index Edges Higher

    The Personal Consumption Expenditures (PCE) Price Index in August rose 0.3% on a monthly basis, the US Bureau of Economic Analysis reported on Thursday. On a yearly basis, the PCE Price Index increased to 1.4% from 1.1% in July. More importantly, the Core PCE Price Index, the Federal Reserve’s preferred gauge …

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  • 1 October 2020 5:25 pm

    US Weekly Initial Jobless Claims Edge Higher to 837K

    There were 837,000 initial claims for unemployment benefits in the US during the week ending September 26th, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed last week’s figure of 873,000 and came in slightly worse than analysts’ estimate of 850,000.

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  • 1 October 2020 5:06 pm

    US: Personal Income Falls by 2.7% in August, Personal Spending Rises by 1%

    Personal Income in the US declined by 2.7% on a monthly basis in August after rising by 0.5% (revised from 0.4%) in July, the US Bureau of Economic Analysis reported on Thursday. This reading came in slightly worse than the market expectation for a decrease of 2.4%. Further details of …

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  • 1 October 2020 4:27 pm

    EU Takes Legal Action Against UK Over Planned Brexit Bill

    The European Union has launched a legal case against the United Kingdom on Thursday over its plans to pass legislation that would breach parts of the legally binding Brexit agreement the two sides reached late last year. Johnson risked proposing legislation that would repeal parts of the EU Withdrawal Agreement that …

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  • 1 October 2020 3:16 pm

    Dollar Giving up Its Gains With Appetite For Riskier Currencies

    The dollar fell Thursday, October 1, to its lowest level in 9 days, as strong US data and hopes about a fiscal stimulus boosted investor confidence enough to take in more risky currencies. The Chinese yuan rose against the dollar and reached its highest level in a year and a …

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  • 1 October 2020 2:38 pm

    French Manufacturing Sector Returns to Growth in September

    France’s manufacturing sector has returned to expansion despite the continuing effects of Coronavirus on the economy and has entered the expansion area on PMI. Data published by IHS Markit said its final purchasing managers’ index rose to 51.2 in September from 49.8 in August. slightly up from a preliminary reading …

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  • 1 October 2020 1:53 pm

    UK Manufacturing PMI Revised Down to 54.1 in September

    The UK manufacturing sector activity expanded less-than-expected in September, the final report from IHS Markit confirmed this Thursday. The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) was revised lower to 54.1 in August from 54.1 preliminary estimates. Rob Dobson, Director at IHS Markit, which compiles thesurvey:“September saw …

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  • 1 October 2020 1:17 pm

    Oil Stable on US Stimulus Hopes But Demand Concerns Persist

    Oil received some support from renewed hopes about a US fiscal stimulus, but concerns about an increase in Corona Cases weighing on demand. West Texas Intermediate (WTI) crude oil futures slipped 1 cents to $ 40.21 a barrel after jumping 2.4% on Wednesday. Brent crude futures also rose to 42.32. …

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  • 1 October 2020 1:05 pm

    Gold Rises on Dollar’s Decline And Hopes for a US Stimulus

    Gold rose Thursday, October 1st after being boosted by the dollar’s decline and signs of progress in talks on new US stimulus measures. Gold Spot gained 0.4% to $1892.23/ounce, to start the month on the upside, after posting the largest monthly decline since September 2016. US gold futures rose 0.2% …

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  • 1 October 2020 12:32 pm

    RBA Commodity Index Rises in September

    The Reserve Bank of Australia (RBA) Commodity Price Index increased by 1.5% on a monthly basis, after rising by a revised reading of 0.2% in August, according to preliminary estimates released by the Australian central bank on Thursday. The non-rural, rural, and base metals sub-indices all increased in the month. …

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