Author: FX
Markets turned decisively risk-off on Thursday as U.S. labor market concerns overwhelmed policy optimism, with equities and risk assets suffering sharp losses while bonds rallied on renewed Federal Reserve easing expectations amid an ongoing government shutdown that continues to starve traders of official economic data. The session’s dominant narrative centered on Challenger, Gray & Christmas data showing 153,074 job cuts in October—the highest for that month since 2003—which amplified concerns about labor market deterioration at the same time as a record U.S. government shutdown. Check out the forex news and economic updates you may have missed in the latest trading…
The Dow Jones Industrial Average (DJIA) tumbled 400 points at its lowest on Thursday, falling to its lowest valuation in nearly two weeks as equity indexes were crushed underfoot by a broad pivot out of AI tech stocks. US economic data is restricted to volatile private datasets amid the ongoing federal government closure, causing investors to fret about wonky release figures that have a poor historical correlation to large-scale government data collection and reporting.Overextended AI stock declines drag down broader marketThe Dow Jones tested back below the 47,000 handle, down around 2.6% peak-to-trough after posting record highs just above 48,000…
Unisys outlines $430M L&S target and $110M free cash flow amid AI-driven margin gains and Ex-L&S headwinds Source link
Job cuts across the United States soared to their highest October total in over 20 years, as employers announced 153,074 planned layoffs, according to fresh data from Challenger, Gray & Christmas. The report, released November 6, highlights accelerating job reductions linked to cost-cutting, the rapid adoption of artificial intelligence, and softening consumer and corporate spending. The surge in layoffs comes amid ongoing economic uncertainty and the record breaking U.S. federal government shutdown. Key Takeaways U.S.-based employers announced 153,074 job cuts in October, a 175% increase year-over-year and 183% jump from September. The technology and warehousing sectors led the month’s layoffs,…
Hammack adds:Now is a challenging time for monetary policy makingit will take a couple of years to get back to 2% inflation targetthe Fed bigger miss is on the inflation side relative to job mandate. Inflation overshoot goes beyond tariff pressure.A little bit nervous about current policy given inflation.I would not want to cut rates into accommodative territory.The economy is pretty robust and healthy right nowis closely watching inflation expectations dataAI boom could mirror what happened with Internet build out.AI is a structural economic change is not well-suited to monetary policy changes.Fed has some excellent job managing federal funds rate,…
West Texas Intermediate (WTI) US Oil trades at $58.90 on Thursday at the time of writing, down 0.80% on the day, extending its decline for a third consecutive day. The fall comes amid a wave of risk aversion sweeping global markets, with US equities retreating and investor sentiment turning cautious.The latest report from the United States Energy Information Administration (EIA) released on Wednesday showed an unexpected surge in US Crude Oil inventories, which rose by 5.2 million barrels for the week ending October 31, far exceeding expectations for a 1.8 million-barrel increase. The data reinforced concerns that supply remains ample,…
TOR Minerals International Non-GAAP EPS of $0.77, revenue of $342.6M Source link
We need to see downward path of inflation become more established before cutting againToday’s decision is based on two key judgementsThe first being underlying domestic price and wage pressures are continuing to easeThe other being the risk of greater inflation persistence has become less pronounced This article was written by Justin Low at investinglive.com. Source link
EUR/JPY trades without a clear trend on Thursday, hovering around 177.00, virtually unchanged on the day. The pair remains stable after the release of mixed data from both the Eurozone and Japan, maintaining a fragile balance between the two currencies.According to Eurostat, Eurozone Retail Sales increased by 1% YoY in September, following a revised 1.6% rise in August, matching expectations. On a monthly basis, sales fell by 0.1%, disappointing forecasts that had called for a modest gain. These figures confirm that consumption remains moderate but resilient in the bloc, while the HCOB Services PMI, released on Wednesday, climbed to 53.0…
Cipher Mining prices $1.4B senior secured notes Source link