Financial News

GBP/USD tumbles as UK inflation falls below BoE target, fueling rate cut expectations.

Donald Trump launched World Liberty Financial (WLFI) token on Tuesday, Oct 15, making cryptocurrencies a central theme in the Republican campaign trail.

ASML shares plunge 15% after a surprise earnings release, with a lowered 2025 forecast sparking declines in Nvidia, AMD, and other major chip stocks.

New York manufacturing activity contracts as October’s Empire State index drops to -11.9, but optimism rises with 55% of firms expecting growth in 6 months.

UK unemployment falls to 4.0% in August, adding pressure on BoE’s rate policy amidst weaker wage growth and inflation outlook.

While the SEC vs. Ripple case continued to take center stage, the SEC pursued its regulation through enforcement by suing another crypto exchange.

At current levels, Consumer Sentiment is 8% stronger than a year ago.

On a year-over-year basis, Core PPI exceeded analyst estimates.

Natural gas traders will stay focused on the impact of Hurricane Milton.

Initial Jobless Claims increased to 258,000, raising worries about the situation in the job market.

German retail sales surged 1.6% in August, easing recession fears and challenging ECB rate cut expectations.

Gasoline inventories declined by 6.3 million barrels from the previous week.

Italy aims to accelerate fiscal tightening to exit the Excessive Deficit Procedure earlier than expected, but high public debt, structural economic weaknesses and unfavourable demographics pose challenges.

The widening trade surplus highlights a potential 2024 economic contraction as factory orders tumble and imports shrink.

August’s 2.9% industrial surge in Germany calms recession worries, but recent PMI data paints a darker picture.

Germany’s factory orders and manufacturing sector slump fuels concerns over deindustrialization and ECB policy.

US labor market beats forecasts, easing recession fears and Fed cuts bets, while Middle East tensions weighed on crypto markets.

U.S. job growth surged by 254K in September, beating forecasts, while unemployment dipped to 4.1%. Wage growth remains steady at 0.4%, supporting labor market streng

The US and global economies remain resilient ahead of forthcoming US elections. However, Europe’s economic fragility poses challenges for its recovery despite support from the easing of interest rates.

Natural gas prices pulled back from session highs as traders reacted to the report.