Financial News

Australian employment figures sent a vastly different signal to the July report. A steady unemployment rate could ease fears of a slump in consumption.

Domestic oil production increased from 12.8 million bpd to 12.9 million bpd as producers reacted to higher prices.

The core CPI data revealed a rise of 0.3% for the month, higher than the 0.2% forecast.

The UK economy contracted by more than expected in July. A fall in service sector output raises the threat of a more marked contraction in August.

The German ZEW Index for September surpassed gloomy market anticipations, suggesting cautious optimism.

The US CPI Report for August is eyed as a key driver for potential Fed rate hikes, with the inflation narrative at the forefront.

Crypto regulatory chatter failed to spook investors this week. However, a lack of progress toward a crypto-Spot market remained a headwind.

SEC challenges Ripple in an evolving lawsuit; market eyes ruling’s potential impact on XRP.

August saw a 40,000 job increase but couldn’t keep up with a 103,000 population surge; employment rate hit 61.9% with steady 5.5% unemployment.

The EIA report showed that U.S. was buying oil for the Strategic Petroleum Reserve despite rising oil prices.

Initial jobless claims fell to 216,000, a 13,000 drop; Q2 nonfarm productivity rose by 3.5%, signaling economic progress.

The risk of policy mistakes has increased as China’s authorities try to tackle financial imbalances, including high local government debt, while shifting towards a consumption-led growth model.

China trade figures failed to impress this morning. While imports and exports declined at a less marked pace, the threat of a global recession lingered.

The report, which has easily exceeded analyst expectations, may provide additional support to U.S. dollar.

Eurostat estimates reveal a 0.2% decline in the euro area’s retail volume for July 2023, better than June but worse than forecast.

German factory orders reversed the unexpected surge in June. The latest report reflected weak demand across most economic sectors.

The Eurozone services sector, led by declines in France and Germany, contracted for the first time since December 2022.

The RBA left monetary policy unchanged today. Global economic uncertainties, household spending, and inflation forecasts supported a hold.

Production cuts, China’s stimulus measures, and a less hawkish outlook for Fed policy are pushing oil markets towards new highs.

The sentix economic index for the Eurozone indicates a deepening recession, heavily influenced by Germany.