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Weekly Feed Mins Read

Kristal Weekly Feed I 7th October 2019

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All you need to know, in under 1 minute.
Here’s a concise report on what made headlines in the global market last week.

Positives

  • US unemployment rate hits 50-year low

Negatives

  • US manufacturing index slid to a 10-year low
  • India lowers its economic growth forecast

 

Now, for more detail.

 

Positives

1. US unemployment rate hits 50-year low

What You Should Know

According to the latest update on the US labour market, the unemployment rate of the country fell to 3.5 percent, its lowest point since December 1969. The rate in August was 3.7 percent.

What You Should Look Out For

The US unemployment rates have been running below the Fed’s long-term projections for the last two years. Following the positive job report US stocks rallied and the S&P climbed by over 1 percent later in the week.

Suggested Reading

 

Negatives

1. US manufacturing index slid to a 10-year low

What You Should Know

The U.S. manufacturing purchasing managers’ index released by the Institute of Supply Management (ISM) slipped to 47.8 percent in September, the lowest since June 2009 and marking the second consecutive month of contraction. Generally, a figure below 50 percent signals a contraction.

What You Should Look Out For

ISM’s manufacturing index is considered a leading indicator of downturns. It shows that the American manufacturers are facing headwinds both from the strong dollar and from weak overseas demand. The disappointing manufacturing results triggered a sharp stock-market sell-off and a rally in safer government bonds earlier in the week.

Suggested Reading

 

2. India lowers its economic growth forecast

What You Should Know

The Reserve Bank of India slashed the country’s economic growth forecast from 6.9 percent to 6.1 percent for this year. In a bid to bolster the sagging growth, the central bank’s monetary policy committee cut its benchmark interest rates by 25 basis points to 5.1 percent.

What You Should Look Out For

India’s policy rate is at its lowest level since 2010. India’s GDP growth has been decelerating steadily for the last five quarters, reaching a low of 5 per cent in the last quarter. The Governor said that the central bank would be ready to cut rates further if deemed necessary to turn the economy around.

Suggested Reading

Disclaimer

The materials and data contained herein are for information only and shall in no event be construed as an offer to purchase or sell or the solicitation of an offer to purchase or sell any securities in any jurisdiction. Kristal Advisors does not make any representation, undertaking, warranty or guarantee as to the update, completeness, correctness, reliability or accuracy of the materials and data herein. All opinions, forecasts or estimation expressed herein are subject to change without prior notice. Kristal Advisors and its affiliates accept no liability or responsibility whatsoever for any direct or consequential loss and/or damages arising out of or in relation to any use of opinions, forecasts, materials and data contained herein or otherwise arising in connection therewith.

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