market recap 16.10

Holborn Market Recap 12-16 October 2020

Good day, this is Holborn’s weekly market recap. Let’s take a look at this week’s news in finance.

 

Monday October 12th

News in finance: On Monday, the Bank of England’s (BoE) Governor Andrew Bailey warned that the UK’s economy could struggle more than expected to recover from the coronavirus crisis.

In New Zealand, a report by Statistics New Zealand showed that electronic card retail sales edged higher by 7.3% in September, on an annualised basis, surpassing analysts’ expectations.

 

Tuesday October 13th

News in finance: On Tuesday, the Chinese Administration of Customs announced that the country’s trade surplus shrank in September as imports jumped by 13.2%, on a year-to-year basis.  The latest figure follows a 2.1% contraction in August and marks the first rise in imports in the last 4 months.

UK tower bridge

In the UK, the Office for National Statistics (ONS) reported that the country’s unemployment rate rose from 4.1% to 4.5% in the three months to August. The figure is the highest recorded in the last three years.

In the US, a report by the Department of Labour Statistics showed that the Consumer Price Index (excluding food and energy) inflation remained stable at 1.7% in September, on an annualised basis.

 

Wednesday October 14th

European Central Bank

News in finance: On Wednesday, the European Central Bank’s (ECB) President Christine Lagarde said that banks in the euro area currently have sufficiently robust capital and liquidity buffers. She noted that “headline inflation is likely to remain negative over the coming months before turning positive again in early 2021.”

 

Thursday October 15th

News in finance: In Australia, a report by the Bureau of Statistics showed that the country’s unemployment rate rose to 6.9% in September.

In China, the CPI inflation stood at 1.7% in September, on a yearly basis. Economists in a Reuters poll had expected CPI to increase 1.8% after a 2.4% rise in August. The figure has been the lowest recorded in the last 19 months.

 

Friday October 16th

News in finance: On Friday, Eurostat published its monthly inflation report. The report showed that the CPI inflation stood at -0.3% in September in line with analysts’ expectations. Economists at ING noted that “the most worrying decline in the inflation rate comes from services inflation, which usually shows very little volatility and is a large component of the core inflation index.”

 

We hope you enjoyed the weekly market recap. From all of us at Holborn Assets have a lovely weekend!

Ready to chat with
a specialist?

Get started

You may also be interested in

The Benefits and Risks of Investing in Emerging Markets for Expats

The Benefits and Risks of Investing in Emerging Markets for Expats

For many expatriates, investing in emerging markets can be an exciting opportunity. These fast-growing economies offer high potential returns and a chance to diversify investments. However, they also come with...

Read more

Step-by-Step Guide to Creating a Financial Safety Net While Living Abroad

Moving abroad is an exciting adventure, but it also comes with financial challenges. Whether you’re an expat for work, retirement, or personal reasons, ensuring financial security is crucial. A solid...

Read more
Best Practices for Setting Up Offshore Trusts

Best Practices for Setting Up Offshore Trusts

Offshore trusts can be a brilliant way to protect your assets, plan your estate, and even enjoy tax benefits. But setting one up isn’t something you want to rush into....

Read more

Understanding Cross-Border Wealth Management: Tips for Global Investors

Managing wealth across multiple countries can feel like trying to solve a particularly tricky puzzle. For global investors and expatriates, this puzzle is further complicated by differing tax laws, currency...

Read more