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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Powell: US economy ‘in a good place’
The US Federal Reserve (Fed) Chairman, Jerome Powell, stated that the US economy is in a good place despite facing some risks. Moreover, he added that the Fed must do what it can to keep it there.
US non-farm payrolls rose in September
In the US, non-farm payrolls recorded an increase to a level of 136.00 K in September, lower than market anticipations of an advance to a reading of 145.00 K. Non-farm payrolls had recorded a revised increase to a level of 168.00 K in the prior month.
US unemployment rate unexpectedly declined in September
In the US, unemployment rate unexpectedly fell to 3.50% in September, lower than market expectations of a steady reading. Unemployment rate had registered a level of 3.70% in the prior month.
US trade deficit rose in August
In the US, trade deficit widened to $54.90 billion in August, from a deficit of $54.00 billion in the prior month. Markets were expecting a deficit of $54.50 billion.
US average hourly earnings of all employees remain flat in September
In the US, average hourly earnings of all employees remained flat on a MoM basis in September, compared to a rise of 0.40% in the previous month. Markets were anticipating average hourly earnings of all employees to advance 0.30%.
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