Major companies including Apple and Google closed in loss, Initial Jobless Claims event to look at

Significant events to watch:

-US (USD): U.S Initial Jobless Claims

-UK (GBP): U.K Gross Domestic Product (YoY)

-US (USD): U.S Core PCE Price Index (YoY)

US (USD): U.S Initial Jobless Claim – 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 reading was 201K better than the expected 225K. The next report is due on September 28, 12:30 GMT. Its forecast also stands at 217K.

UK (GBP): U.K Gross Domestic Product (YoY) – Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health.

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

The previous reading was 0.4%, better than the expected 0.2%. The next report is due on September 29, 06:00 GMT. Its forecast also stands at 0.4%.

US (USD): U.S Core PCE Price Index (YoY) – The Core PCE price Index is the less volatile measure of the PCE price index which excludes the more volatile and seasonal food and energy prices. The impact on the currency may go both ways, a rise in inflation may lead to a rise in interest rates and a rise in local currency, on the other hand, during recession, a rise in inflation may lead to a deepened recession and therefore a fall in local currency.

The previous actual data was 4.2% – similar to the forecast. The upcoming report is due on September 29, 12:30 GMT and its forecast figure is 3.9%.

Risers and Fallers

-Nasdaq  (-3.03%)

-Apple (-1.00%)

-Google (-4.84%)

-Crude oil (-1.1%)

Nasdaq – The Nasdaq 100 declined in value last week, closing at almost 14,700. The index has appreciated almost 16% in the previous 6 months.

Apple – Apple stock plunged by nearly 1.00% in the last 5 days. However, the stock has showed a remarkable performance YTD, registering over 39% gains till now.

Google  – Google’s stock experienced a decline previous week, dropping more than 4.8% in the last week. However, it has performed exceptionally good this year, registering gains of almost 27% in the previous 6 months.

Crude Oil (Brent) – Crude oil’s price dropped by 1.1% during the previous week. Currently, the commodity is trading at $92.60 per barrel.

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