Significant events to watch:

-US (USD): Crude Oil Inventories

-US (USD): Initial Jobless Claims

-US (USD): Nonfarm Payroll

US (USD): U.S. Crude Oil Inventories – The Energy Information Administration’s (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation.

If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices and vice-versa.

The previous actual reading was -2.17M while the expected figure was -2.135M. The next report is due on Wednesday, October 4, 2023, 20:00GMT. Its forecast also stands at -1.320M.

US (USD): U.S. Initial Jobless Claims – Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week.

A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD.

The previous actual reading was 204K, while the excepted figure was 202K. The next report is due on Thursday, October 5, 2023, 18:00GMT. Its forecast stands at 215%.

US (USD): U.S. Nonfarm Payrolls – Nonfarm Payrolls measures the change in the number of people employed during the previous month, excluding the farming industry. Job creation is the foremost indicator of consumer spending, which accounts for the majority of economic activity.

A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

The previous actual data was 187K while the excepted was 157K. The upcoming report is due on Friday, October 6, 2023, 18:00 GMT and its forecast figure is 170K.

Risers and Fallers

-Dow Jones (-1.18%)

-Brent oil’s (+1.6%)

-Meta (+1.56%)

-Tesla (+2.5%)

Dow Jones has declined almost 1.18% over the last 5 days. The index has been at a standstill since the start of 2023, showing only one 1.12% appreciation YTD.

Tesla is trading at $250 by gaining more than 2.5% in the last 5 days. The stock displayed a reasonable growth rate of 28% over the previous 6 months.

The meta stock showed a slight increase of 1.56% in the last week. The stock has registered more than 140% gains YTD, manifesting a monumental spike rate this year.

Brent oil’s price has surged 1.6% in the previous week. The commodity is now trading at 92.98 USD.

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