Morning Economic Report 10-2-25

Economy update

Eurozone unemployment in August rose to 6.3%, up from 6.2% in July and matching the year-ago level. In the whole of the EU, it remained steady at 5.9%. The ongoing US government shutdown provides a boost for gold, which is steady around record highs and sends the dollar lower. Friday’s job data is unlikely to be released; yesterday’s private figure showed that the US economy lost 32,000 jobs in September. It implies further Fed rate cuts, which are helping global stocks and US equity futures climb during the London morning.