Global Markets in Focus: Growth, Challenges, and Innovation Unfold 

This week brought a mix of economic insights, from manufacturing data signaling continued sectoral contractions to strong job creation in the US and steady GDP growth in Australia. Key developments included modest movements in global exchange rates, shifting trends in employment figures, and mixed performances in the commodities and stock markets. Notable corporate earnings also highlighted resilience and innovation across industries, with companies like Salesforce and Hewlett Packard Enterprise standing out.

Monday, December 2

17:00 – USA: ISM Manufacturing PMI (USD)

The Manufacturing PMI for November 2024 stood at 48.4, reflecting continued contraction in the manufacturing sector for the eighth straight month, though slightly better than October’s 46.5.

The EURUSD exchange decreased by 0.7% from the previous trading session.

Tuesday, December 3

15:00 – USA: JOLTS Job Openings (USD)

In October 2024, job openings remained relatively steady at 7.7 million, reflecting a slight annual decline of 941,000. Hires also showed little change at 5.3 million but were down by 501,000 year-over-year. Total separations held at 5.3 million, with quits rising to 3.3 million, indicating increased employee mobility. Layoffs and discharges stayed stable at 1.6 million.

The EURUSD exchange increased by 0.08% from the previous trading session.

Wednesday, December 4

2:30 am – Australia: GDP q/q (AUD)

The Australian economy grew by 0.3% in the September 2024 quarter, marking the twelfth consecutive quarter of expansion, driven by public sector spending and investment.

The AUDUSD decreased 0.7%.

15:15 – USA: ADP Non-Farm Employment Change (USD)

In November 2024, US private employers added 146,000 jobs, with large companies driving most of the growth (+120,000 jobs). While overall hiring was healthy, performance varied by industry.

The EURUSD price increased by 0.03% compared to the previous day’s close.

17:30 – USA: ISM Services PMI (USD)

In November 2024, the Services PMI was 52.1, marking the fifth month of expansion but at a slower pace. Business activity and new orders reached 53.7, while employment slightly eased to 51.5. Faster supplier deliveries (49.5) and growth in 14 industries highlighted mixed but positive economic momentum.

The USDJPY was up 0.7% compared to the previous day’s close.

Thursday, December 5
15:30 – USA: Unemployment Claims (USD)

For the week ending November 30, initial jobless claims rose by 9,000 to 224,000, with a four-week average of 218,250, up slightly. The insured unemployment rate decreased to 1.2%, with 1.87 million people claiming benefits, down 25,000 from the prior week. The four-week average for insured claims also declined to 1.88 million.

The EURUSD exchange rate ticked higher by 0.7% from the previous day.

Friday, December 6

15:30 – USA: Unemployment Claims (USD)

For the week ending November 30, initial jobless claims rose by 9,000 to 224,000, with a four-week average of 218,250, up slightly. The insured unemployment rate decreased to 1.2%, with 1.87 million people claiming benefits, down 25,000 from the prior week. The four-week average for insured claims also declined to 1.88 million.

The EURUSD exchange rate ticked higher by 0.7% from the previous day.

Friday, December 6

15:30 – Canada: GDP m/m (CAD)

Employment rose by 51,000 (+0.2%) in November, with the unemployment rate increasing to 6.8%. Gains were led by core-aged men and sectors like trade, construction, and professional services, while manufacturing and transportation saw declines. Alberta and Quebec drove provincial growth. Wages grew 4.1% year-over-year to $35.68.

The USDCAD price increased 0.9% compared to the previous day’s close.

15:30 – USA: Nonfarm Employment Change (USD)

Nonfarm payroll employment increased by 227,000 in November, with the unemployment rate steady at 4.2%. Job gains were led by health care, leisure and hospitality, government, and social assistance, while retail trade saw job losses.

The EURUSD was down 0.2%.

Crude Oil

• Crude oil prices decreased by 1.49% over the past week

Brent Oil

• Brent decreased by 1.43% compared to the previous week

Gold

• The precious metal Gold (XAUUSD) concluded the week on Friday with a 0.7% weekly

Silver

• XAGUSD increased by 1.3% from the previous week

• S&P 500 increased by 0.95%
• DJIA was down by 0.64%
• NASDAQ 100 increased by 3.28%

• Rithm Property Trust Inc. (RPT) 322.04%
• Senti Biosciences, Inc. (SNTI) 154.63%
• United States Antimony Corporation (UAMY) 148.68%

• Unusual Machines, Inc. (UMAC) -53.50%
• Agrify Corporation (AGFY) -52.41%
• Oriental Rise Holdings Limited (ORIS) -46.29%

• Monday, December 2: Zscaler (ZS)
• Tuesday, December 3: Salesforce Inc (CRM)
• Thursday, December 5: Hewlett Packard (HPE)

Zscaler’s (ZS) earnings exceeded expectations, reporting an EPS of $0.77 (beating estimates by $0.14) and a 26.4% revenue increase to $628 million. Despite a trailing EPS of -$0.25, earnings are projected to improve next year, narrowing losses from ($0.95) to ($0.79) per share.

ZS shares price increased by 2.61% from the previous week.

Salesforce (CRM) reported Q3 revenue of $9.44 billion, exceeding estimates, but missed earnings at $2.41 per share. The company launched its AI platform, Agentforce, in October, aiming to enhance productivity, and forecasts fiscal 2025 revenue of $37.8-$38 billion.

CRM shares experienced a surge of 9.70%.

Hewlett Packard Enterprise (HPE) exceeded Q4 expectations with $8.5 billion in revenue (+15% YoY) and an EPS of $0.58, beating forecasts. Annual recurring revenue surged 48%, and after-hours trading saw the stock rise 3.35%. HPE’s strategic focus on AI, hybrid cloud, and supercomputing drives its competitive edge.

HPE shares rose by 12.87% from the previous week.

This week offered a dynamic mix of economic data and market performance, reflecting both challenges and opportunities across global economies. While manufacturing and unemployment data pointed to areas of caution, robust job growth and steady GDP expansion underscored resilience in key regions. Commodities and stock markets saw mixed outcomes, with notable gains in the NASDAQ 100 and silver. Corporate earnings highlighted strategic advancements, particularly in technology and enterprise sectors, with companies like Salesforce and Hewlett Packard Enterprise leveraging innovation for growth. These developments collectively paint a picture of an economy navigating through transitions with pockets of optimism.