Financial News

US unemployment claims rise to 220,000 with the four-week average reaching a yearly high of 1,872,250.

China’s trade data sent mixed signals today. An unexpected fall in imports could suggest a weakening demand environment, putting the spotlight on Beijing.

Oil prices remain under pressure as gasoline inventories increased by 5.4 million barrels.

U.S. private sector added 103,000 jobs in November, falling short of the 131,000 job market expectation.

Treasury yields tested new lows after the release of the report as traders bet on a more dovish Fed.

Euro area’s industrial prices up 0.2% in October 2023, but year-over-year fell 9.4%, with energy sector impacting EU prices.

On Tuesday, the RBA held the cash rate unchanged at 4.35% and listed a range of uncertainties and optimism about inflation to close the door on rate hikes.

SP500 moved lower as traders took profits near multi-month highs, while gold pulled back towards the $2050 level in a wild trading session.

The Eurozone Sentix Economic Index indicates a budding economic recovery with modest but consistent improvements.

Monetary policy decisions, forward guidance, and the economic calendar will keep the markets busy before the all-important US Jobs Report on Friday.

The US courts highlight more untoward SEC actions in its regulation by enforcement maneuvers while Coinbase had an impressive November.

The economic activity in the manufacturing sector contracted for the 13th consecutive month.

Eurozone manufacturing sees improved PMI and new orders, yet faces sharp job cuts and uneven recovery across economies.

Domestic demand supported the Chinese manufacturing sector, showing the influence of Beijing stimulus measures amid a weak global demand backdrop.

The report noted that mortgage rates have declined in recent weeks, which may boost activity in the housing market.

October saw the U.S. PCE index rise slightly, indicating stable inflation alongside modest growth in income and spending.

The UK’s debt-to-GDP ratio is set to rise above official forecasts given continued pressure for more spending unless future governments raise revenues, reduce the welfare state or significantly improve growth.

Strategic Petroleum Reserve increased to 351.6 million bpd as U.S. started to buy oil for reserves after the strong pullback.

Q3 2023 sees US GDP grow 5.2%, driven by investment, spending, and stable inflation, boosting economic outlook.

The report indicated that consumers remained preoccupied with rising prices.