October 03, 2024
United States:
US Jobless Claims Remain Subdued, Consistent With Low Layoffs
Applications for US unemployment benefits rose slightly to a level that is consistent with limited number of layoffs.
Initial claims increased by 6,000 to 225,000 in the week ended Sept. 28. The median forecast in a Bloomberg survey of economists called for 221,000 applications.
Europe:
Euro Is Set for Worst Streak in Five Months on ECB Rate-Cut Bets
The euro is poised for its longest losing streak since April as traders bet on an increasingly aggressive path for interest-rate cuts by the European Central Bank.
The common currency is set to fall for a fifth day, in a retreat from a 14-month high touched just last week. Since then, traders have raised the odds on an ECB cut this month to around 90% as slowing inflation and deteriorating business sentiment prompt central bank officials to endorse easing.
Asia:
BOJ Policy Board Dove Backs Keeping Financial Conditions Easy
A leading dove on the Bank of Japan’s policy board stressed the need to keep financial conditions easy until inflationary expectations take root, reinforcing the bank’s stance that it won’t move too soon a day after the new government urged caution on rate hikes.
“It will still take time to establish a public mindset that’s aligned with the 2% inflation target,” member Asahi Noguchi said Thursday in a speech in Nagasaki, southwestern Japan. “Until then, it’s important, more than anything, to maintain accommodative financial conditions patiently.”
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