usa port strikes may lead to inflation, the specific impact depends on the duration!
On October 1st, market analyst Jeff Cox wrote that the port strikes in multiple locations in the usa may rekindle inflation, while the greater economic impact depends on how long the strikes last.
Unexpected rebound in the number of job vacancies in the USA, manufacturing PMI continues to be weak.
1. The data released by the Bureau of Labor Statistics shows that the number of job vacancies on the last working day of August reached 8.04 million, the highest level since June; 2. The data released by the Institute for Supply Management shows that the Manufacturing Purchasing Managers' Index for September recorded 47.2, originally expected to rebound to 47.5.
Technical analysis of EUR/USD, GBP/USD, and EUR/GBP on October 1st.
Euro/USD, British pound/USD trading near highs, while Euro/British pound further declined due to the strength of the British pound.
Rate cut in October in sight? Eurozone CPI fell by 0.1% month-on-month in September, the largest decline since January 2024.
More news, continuously updated.
Powell's speech reduced expectations of a sharp interest rate cut, causing the US dollar against the Canadian dollar to rise to near its recent high.
After Federal Reserve Chairman Jerome Powell's speech suppressing further large rate cuts, the Canadian dollar fell slightly against the US dollar, hitting a six-day low. However, despite the strength of the US dollar, the Canadian dollar still rose by 1.1% in the third quarter. Investor put bets on the Canadian dollar have dropped to their lowest level since April, while concerns about global weak demand have also put pressure on oil prices.
Chicago Fed Chair warns dock workers' strike may disrupt the supply chain, emphasizing that rate cuts need to gradually restore normalcy.
Gurley refused to disclose whether he supports a slight or significant rate cut at the next meeting, emphasizing instead the importance of considering the overall rationale behind the rate cut process.
