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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

UK unemployment stays at 4.2% in September

The UK unemployment rate remained at 4.2% in September. The market had expected it to rise to 4.3%.

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The UK unemployment rate

The UK unemployment rate remained at 4.2% in September. The market had expected it to rise to 4.3%. Average hourly earnings, excluding bonuses, are also 7.7%.

US CPI

Currency traders await US inflation data later this afternoon. Headline consumer price index (CPI) is forecast to rise by 3.8% in October year-on-year (YoY), after a 3.7% increase the previous month. Core CPI growth is forecast to remain at 4.1% in October.

Vodafone

On the equity market, Vodafone has released its first-half results. It reported a 4.2% rise in group service revenue for the six months to the end of September, with both Europe and Africa up, and 0.3% higher adjusted core earnings, a rise limited by higher energy costs.

Home Depot

Over in the US, Wall Street is bracing for weaker figures from US home improvement company Home Depot when it releases its results later, after earnings reports from other home improvement chains have solidified growth concerns. The company is expected to post earnings of £3.76 per share on revenue of $37.63 billion. That compares to earnings per share of $4.24 and revenue of $38.9 billion. Historically, home improvement Stocks have been negatively impacted by interest rate hikes. At the same time, weakening consumer demand and higher input costs have squeezed margins.

Oil prices

In commodities, oil prices rose on Monday, following the Organization of the Petroleum Exporting Countries's (OPEC) monthly report. The organisation made a slight increase to its 2023 forecast for global oil demand growth and stuck to its relatively high 2024 prediction. Last week, both Brent and WTI fell to their lowest levels since July, a sign that traders are growing increasingly concerned about the global economy and waning demand.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

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