Synopsis: Barclays forecasts a deceleration in October’s nonfarm payrolls to 125k, down from September’s 254k, with employment impacted by the Boeing strike and recent hurricanes. Wage growth is expected to remain steady, while the unemployment rate may tick up due to temporary disruptions. Key Points: Nonfarm payrolls projected to rise by 125k, with private payrolls increasing by 100k as…
The Greenback’s rally continued to give some signs of potential exhaustion on Wednesday, despite encouraging prints from the job creation in the US private sector and further evidence of a resilient US economy. Here is what you need to know on Thursday, October 31: The US Dollar Index (DXY) receded to three-day lows and pierced the 104.00 support amidst…
2024.10.30 2024.10.30 Euro Remains Range-Bound Against US Dollar. Forecast as of 30.10.2024 Dmitri Demidenkohttps://www.litefinance.org/blog/authors/dmitri-demidenko/ Devastating hurricanes and strike actions risk cooling the US economy and complicating the Fed’s decision-making. This fact, together with rumors about China’s fiscal stimulus, is buoying the EURUSD pair. Let’s discuss this topic and make a trading plan. The article covers the following subjects: Highlights…
Market correlations appeared to be out of sync in the latest trading sessions, as crude oil had its own thing going while U.S. equities reacted to earnings data. Gold advanced more than 1% for the day while BTC/USD cruised to fresh all-time highs at the $73,000 levels. Which headlines and economic updates are driving price action? Headlines: Japan’s unemployment…
The USDJPY is lower on the day, but has been able to points for buyers against its rising 100-hour moving average. That moving average, comes at 152.826. A move below that level would have traders targeting the rising 200-hour moving average of 151.972. There’s other support on the 4-hour chart at a swing area at 151.85 to 151.937. Below…
CAT stock sinks more than 5% before recovering completely. Caterpillar earned $5.17 per share in Q3 on revenue of $16.1 billion. A downturn in equipent sales to end users pushed sales lower YoY. Q4 outlook now looks less rosy as management sees construction weakness. Caterpillar (CAT) stock is turning that frown upside down as they say. The construction and…
2024.10.30 2024.10.30 Top 10 Strongest Currencies in the World in 2024 Jana Kanehttps://www.litefinance.org/blog/authors/jana-kane/ In times of global instability, currency markets face numerous factors influencing the value of national currencies. Variables like inflation, interest rates, and trade balance play a crucial role in shaping the exchange rate. The highest currency serves not only as a sign of economic resilience but…
The Bank of Japan (BOJ) starts its two-day meeting today! If Japan’s recent economic data are any clue, BOJ members may have less room to maintain their hawkish biases. But our Event Guide for the BOJ October Decision also points out that Gov. Ueda and his team can’t maintain uber-dovish biases either. Instead, we may see weaker…
ECB’s Schnabel is speaking and says: Disinflation remains on track, which allowed the ECB to lower rates further in October Warns that the fight against inflation is not yet won. A gradual approach to removing restriction remains appropriate. Neutral rate is subject to high uncertainty. No need to go below neutral (COMMENT: even though it is undefined…) Risk of…
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