The EUR/USD currency pair is expected to experience significant volatility in the coming days, primarily driven by the US presidential election. A victory for Donald Trump could boost the USD, while a win for Kamala Harris might lead to a USD decline. This volatility is further amplified by the upcoming Federal Reserve meeting, where interest rates are anticipated to be cut. The article provides technical analysis of the EUR/USD market, suggesting potential price targets and support levels.
Global markets experienced a volatile session on Monday as investors grappled with the upcoming U.S. presidential election and the Federal Reserve’s policy announcement. Election polls, economic data, and commodity price movements all influenced market sentiment.
Mortgage rates have risen for the fourth consecutive week, reaching their highest point since August, despite expectations of a Federal Reserve rate cut. This upward trend is pushing homebuyers to the sidelines, adding to the challenges of an already tight housing market. The article examines the factors contributing to the rise in mortgage rates, including strong economic data, rising Treasury yields, and government borrowing.
US stock markets are expected to open higher on Monday, buoyed by potential gains in tech stocks and anticipation of a Federal Reserve rate cut. With the US presidential election just days away and a tight race between Kamala Harris and Donald Trump, market volatility is expected. The Fed’s rate decision and Jerome Powell’s commentary will be crucial in guiding future market movements.
The U.S. stock market faced a setback at the end of October, ending a five-month winning streak. Election uncertainties and mixed tech earnings dampened risk sentiment. This comes amid a surprising slowdown in job growth and expectations for Federal Reserve rate cuts. Betting odds for the 2024 presidential election show a tight race, while gold sees record highs due to investor demand. Ford halts F-150 Lightning production in response to Tesla’s Cybertruck sales surge.
The U.S. economy added only 12,000 jobs in October, a significant miss compared to estimates of 113,000, marking the lowest monthly pace since December 2020. While hurricanes and the Boeing workers’ strike are attributed to the weak hiring numbers, experts are divided on whether this reflects a broader slowdown in the labor market.
A dismal October jobs report, showing a significant slowdown in hiring, has fueled speculation of an imminent Federal Reserve interest rate cut. The market is now pricing in a full probability of a 25-basis-point rate cut at next week’s Federal Reserve meeting, with the likelihood of another cut in December surging to 85%. The weak job growth, attributed to factors like hurricanes and strikes, has heightened concerns about a potential recession.
The Federal Reserve’s favored inflation measure, the PCE price index, accelerated in September, raising concerns about the likelihood of back-to-back interest rate cuts in the upcoming months. While a 25-basis-point rate cut at the next Fed meeting is widely expected, the stronger-than-expected core PCE inflation could impact expectations for a December cut.
The US economy grew at a robust 2.8% in the third quarter, but beneath the strong headline number, economists see diverging forces at play. While growth slowed from the previous quarter, strong consumer spending and a surge in defense spending fueled the expansion. Despite the positive GDP figures, economists remain cautious about the sustainability of growth and the Fed’s response to inflation.
The US economy grew at a slower pace in the third quarter, but a surge in private payrolls in October suggests continued robust job growth despite recent economic challenges. The slowdown in GDP growth and positive employment data have sparked market reactions, with the dollar strengthening and short-dated yields surging.
