Skip to content Skip to footer

Marginal Rise in U.S. Jobless Claims Sends Indices Lower, German Consumer Confidence Slows & Japan Suspends 1.63 million doses of the Moderna COVID-19 vaccine

U.S. jobless claims marginally increase, indices decline

Initial jobless claims in the United States marginally rose on Thursday, ending a recent string of highs from several U.S. indices.

Figures released by the Labor Department showed that claims for unemployment benefits rose by 4,000, sending the total to 353,000 for the latest week.

How Jobless Claims affect the stock market

This comes, as markets were anticipating 350,000 applications for the week that ended August 21st.

After registering all-time highs for the last 2 trading days, both the NASDAQ and S&P 500 retreated from these levels.

EURUSD drops as German consumer confidence slows

The world’s most traded currency pair was trading lower on Thursday, as data from Germany showed that consumer confidence was slowing.

According to the Gfk index, Europe’s largest economy reported that consumer confidence fell from -0.4 to -1.2 in August.

How Consumer confidence affects the economy

This comes as analysts had forecasted a decline to -0.7, however with cases of the Delta variant rapidly spreading around the continent, consumers appear to be wary.

As such, the survey also showed that the propensity to save amongst consumers was rising.

EURUSD fell to an intraday low of 1.1745 as a result.

Yen weakens as Japan suspends Moderna vaccine

On Thursday, it was reported that Japan was suspending the distribution of close to 1.63 million doses of the Moderna COVID-19 vaccine.

This comes as it was reported that there were signs of contaminants in some vials of the drugmaker’s product.

How does public health affect forex markets? Check out this article

Moderna confirmed that, “The company is investigating the reports and remains committed to working expeditiously with its partner (in Japan), Takeda, and regulators to address this”.

The Japanese Yen rose to its highest level against the US Dollar in the last 10-days on the news, as Japan continues to battle the spread of the virus.

USDJPY hit its recent resistance level of 110.225 in today’s session, before falling lower. Many now wait to see if rates could break this level.

Quote of the day – “If you personalize losses, you can’t trade.”

– Bruce Kovner

Tradeview Ltd. is not a portfolio manager or an investment advisor. This Market Report is for informational purposes only. Any statements made or opinions voiced in this Market Report do not constitute investment advice. The Tradeview Ltd. Market Report does not constitute a solicitation to buy or sell in the financial markets. Although the information contained in the Market Report comes from trusted sources, Tradeview Ltd. is not responsible for guaranteeing the accuracy, timeliness, completeness, or fitness of such sources. Tradeview Ltd. shall not be responsible for and disclaims all liability for any losses which may be suffered from access and use of the contents of the Tradeview Ltd. Market Report. Trading any financial instrument on margin, using leverage or otherwise involves considerable risk. Therefore, before deciding to participate in any style of trading, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consulting with your investment counselor, attorney, accountant or other professional upon whom you rely for guidance as to the appropriateness of an investment in any style of trading is recommended.

Tradeview Ltd.

Is licensed to carry on securities investment business and is regulated by the Cayman Islands Monetary Authority (CIMA) as a full securities broker-dealer. Tradeview conducts business pursuant to the Cayman Islands Securities Investment Business Law (SIBL) and its activities fall under the direct supervision of the Investments and Securities Division of CIMA.
Headquarters: 5th Floor Anderson Square, 64 Shedden Road, Georgetown, Grand Cayman, Cayman Islands KY1-1002, BWI.
Website: www.tradeviewforex.com

Tradeview Asia Ltd.

Is licensed and regulated by the Labuan Financial Services Authority (FSA) as a Money Broker, registration number LL15870 licensed to facilitate transactions in foreign exchange pursuant to Labuan Financial Services and Securities Act 2010, the Labuan Companies Act 1990 and the Labuan Business Activity Tax Act 1990.
Headquarters: International Business Financial Centre at Office 5, Jamie Business Center I, Unit F10, First Floor, Paragon Labuan, Jalan Mustapha, 87000 Labuan F.T.
Website: www.tvmgloballtd.com

Tradeview Europe Ltd.

Is licensed as a Category 2 Investment Service Company and is regulated by the Malta Financial Services Authority (MFSA). The Malta Financial Services Authority (MFSA) is the single regulator for financial services in Malta. MFSA is a fully autonomous public institution and reports to Parliament on an annual basis. The MFSA is a member of the European Banking Authority (EBA), the European Securities and Markets Authority (ESMA) and the International Organization of Securities Commissions (IOSCO) and is a signatory of the Multilateral Memorandum of Understanding with other European regulatory Institutions. Tradeview is authorized to provide financial services across multiple asset classes and is passported in the EU/EEA under MiFID II (EU Markets in Financial Instruments Directive).
Headquarters: 157 Archbishops Street, Valletta VLT Malta 1440.
Website: www.tradeview.eu

Tradeview Financial Markets S.A.C Global

Is authorized to conduct business pursuant to and in compliance with the General Law of Companies (LGS) promulgated by the government of Peru. Tradeview Financial Markets S.A.C is registered with the National Superintendence of Public Registries (SUNARP), company number 13089531. Tradeview Financial Markets S.A.C provides financial services in selected OTC derivative markets in compliance with all applicable government regulations.
Headquarters: Los Mirtos 239 Urb. San Eugenio, Lince, Lima, Perú.
Website: www.tradeviewlatam.com