Summary for the 1st. of October -Impeachment


The US House of Representatives continues the impeachment inquiry against Donald Trump. The inquiry has been launched after President Donald Trump’s 25th of July phone call with the Ukraine President Volodymyr Zelensky has been revealed, and that the conversation is about Trump pressuring Zelensky to investigate Trump’s political opponent, Joe Biden and his son. The secretary of state, Mike Pompeo, also is one of the people that have been listening in on the conversation. It is also revealed that the White House has curbed access to the content of the conversation between Trump and the Australian prime minister. The Senate Majority Leader, Mitch McConnell, would have no choice but to take up impeachment if the House of Representatives passes the articles charging the President with crimes.

Boris Johnson is to present the Brexit plans to the EU leaders. He is expected to propose new plans for the Irish border. There have been talks about implementing customs checkpoints 10 miles from the border in both Northern Ireland and Ireland.

Bank of Japan’s Tankan survey shows that the sentiment of the big manufacturers has declined in the third quarter to the lowest level in six years. The reactions from the financial markets are moderate, probably because the markets have expected an even stronger decline.

The Reserve Bank of Australia cuts its benchmark interest rate from 1 percent to the record low of 0.75 percent, as expected by the financial markets.

The EU area’s unemployment rate declines to 7.4 percent, as expected by the financial markets. The unemployment rate in Germany and France is unchanged , while Italy and Spain have contributed the most to the decline in unemployment rate of the EU area.

Indices for 1st of October
Dow: +0.4 % (30th of September)
S&P 500: +0.5% (30th of September)
Nasdaq: +0.8% (30th of September)
Nikkei: +0.8%  (1st of October)
Chinese indices: Closed. (1st of October)
STOXX Europe 600 Index: -1.31% (1st of October)

This post is sponsored by my video course in Portfolio Analysis, check it out if you are interested:
Quick and Easy Portfolio Analysis Video Course  (Skillshare)
Quick and Easy Portfolio AnalysisVideo Course  (Udemy)
and Facebook page for other information:
Quick&Easy Finance Economics

Comments

Post a Comment

Popular posts from this blog

Summary for the 2nd of October -Weaker manufacturing outlook

Last week’s flash PMI estimates for the EU area and yesterday’ final PMI numbers are indicating that the weakening in the manufacturing sector isn’t country specific, but rather the weakening is across countries. The decline in Germany’s manufacturing sector is less than expected by the financial markets, while the decline in France is higher than expected. The same goes for Spain and Italy. The UK’s PMI index has increased by 0.9 to 48.3 and is more than expected, though 48.3 still indicates a weaker outlook. The US Manufacturing PMI has increased to 51.1 while the ISM index declines by 1.3 percent to 47.8, the lowest value since 2009. Despite weakening activities in the manufacturing sector for the developed countries, for the developing countries the outlook is still positive. The global PMI value in the manufacturing sector has risen from August to September. Past months’ decline has been due to weaker growth in the global trade. The WTO has updated its global trade forecast ...
Read more

Summary for the 15th of October

China’s balance of trade shows a fall in exports by 3.2 percent, comparing to a year ago and the imports fall by 8.5 percent, the first fall since May this year. China is the largest contributor to world economic growth, through the weaker imports, China’s economic decline is affecting the rest of the world economy, such as the Euro area. The Euro area’s industrial production for  August has risen by a little more than the markets have expected. The industrial production in the Euro area has been weakening since the start of 2018. Finland is currently holding the council of the EU presidency. At a press conference with the European Council President elect, Charles Michel, the Finnish prime minister, Antti Rinne, says that The EU needs more time to reach a Brexit agreement. Boris Johnson is hoping to seal a Brexit deal before the EU summit on Thursday, so that he will be able to present it to the British Parliament on Saturday for approval, in doing so, he won’t need to postpo...
Read more

Summary for the 21st of October Brexit drama

On Saturday, the British parliament is withholding the final decision of the revised Brexit deal and forcing Boris Johnson to ask the European Council for an extension to the 31 st of January. Instead the parliament has greed on Oliver Letwin’ amendment, which states that there wont be a no deal Brexit until the parliament has agreed on the revised Brexit deal this week. And on Saturday night, Boris Johnson has sent an unsigned letter to the European Council asking for a Brexit delay as well as a personal letter to the Council asking the EU leaders not to delay Brexit. The US stock exchange has closed in negative on Friday after Johnson & Johnson has to recall 33 000 bottles of baby powder in the US after health regulators found trace amounts of asbestos in a bottle purchased online. Boeing has admitted that two of its employers in 2016 misled the FAA about the 737 Max and its technical system. Weaker than expected Chinese economic indicators also contributes to the negative...
Read more