U.S. Review

Continued Signs of Labor Market Improvement

  • Job openings data continued to point toward more robust labor market conditions. The number of openings touched a 13-year high for the series.
  • Wholesale inventories rose 0.7 percent in August while July’s inventory build was revised higher. Softer sales were to blame for the building.
  • Import prices posted another decline in September as petroleum prices fell for the month. September marks the third straight month of declines in the import prices index and suggests that inflation remains in check.

Global Review

Is the Eurozone Slipping Back Into Recession?

  • Industrial production in Germany nosedived in August. Although some seasonal adjustment issues may have magnified the weakness in IP, there is no doubt that the German economy is not firing on all cylinders at present.
  • Weakness in the German economy appears to be concentrated in domestic capital spending and in exports. Fortunately, growth in consumer spending in Germany generally remains solid. As long as consumer spending growth remains positive, then any contraction in the German economy, if one indeed occurs, likely would be shallow and short-lived.

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EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, with the Greenback shedding some pips.  Fed Chair Jerome Powell set to speak ahead of the weekly close.

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GBP/USD hovers around 1.2620 in dull trading

GBP/USD hovers around 1.2620 in dull trading

GBP/USD trades sideways above 1.2600 amid a widespread holiday restraining action across financial markets. Investors took a long weekend ahead of critical United States employment data next week. Fed Chair Powell coming up next.

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Gold price sits at all-time highs above $2,230

Gold price sits at all-time highs above $2,230

Gold price holds near a fresh all-time high at $2,236 in thinned trading amid the Easter Holiday. Most major world markets remain closed, although the United States published core PCE inflation, the Federal Reserve’s favorite inflation gauge.

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Jito price could hit $6 as JTO coils up inside this bullish pattern

Jito price could hit $6 as JTO coils up inside this bullish pattern

Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.

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Key events in developed markets next week

Key events in developed markets next week

Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.

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