The US non farm payroll plummeted in October, and the US dollar rose again after a intraday correctionThe US presidential election and the decision of the Federal Reserve are coming this week, and most analysts and retail investors are still bullish on the future

04 Nov, 2024

The US presidential election and the decision of the Federal Reserve are coming this week, and most analysts and retail investors are still bullish on the future

Last Friday, despite the unexpectedly weak October non farm payroll report in the United States, the market realized that the distorted data caused by hurricanes and Boeing employee strikes would not prompt the Federal Reserve to significantly cut interest rates. The US dollar index reversed in a V-shape and nearly recovered all the losses of the week, ultimately closing down 0.4% at 104.31. The US Treasury yield rebounded after hitting a new low, with the benchmark 10-year US Treasury yield closing at 4.386%; The two-year US Treasury yield, which is more sensitive to monetary policy, closed at 4.21%. Last Friday's data showed that the US non farm payroll report for October showed a significant decline in job creation, with only 12000 new jobs added, far below market expectations of 113000. After the data is released. Spot gold has experienced a slight surge. However, as the US dollar and US Treasury yields remained strong, spot gold subsequently fell, ultimately closing down 0.32% at $2734.98 per ounce. Due to analysts' expectation that Iran's retaliation against Israel will be restrained, coupled with concerns about demand caused by the record high US crude oil production and weak economic data, international crude oil prices have fallen from high levels. WTI crude oil fell nearly $2 from its daily high, ultimately closing down 1.65% at $69.13 per barrel; Brent crude oil closed down 1.57% at $72.86 per barrel.

x

WARNING and please be advised:

It has come to our attention that a number of unauthorised firms /individuals have cloned our website content, logo and social media pages of CWG Markets Limited. Please be advised that these unauthorised firms have also been contacting consumers via various messaging apps such as WhatsApp, Facebook, Wechat.It should be noted that there is no connection whatsoever between the CWG Markets Limited, an authorised firm, and the unauthorised entities/ individuals that have cloned our details. If you’ve been scammed or contacted by an unauthorised firm / individuals – or a firm you suspect is not legitimate – you can report to us [email protected]

CFDs (Contract For Difference) are complex instruments and come with a high risk of losing money rapidly due to leverage. Please ensure you fully understand the risks and take appropriate care to manage your own risk. Please read our Risk Disclosure carefully.