Express News | Vanguard: It is expected that the Bank of England may unexpectedly keep interest rates unchanged.
Express News | Non-farm employment data confirms economic slowdown, further opening up space for the Fed to cut interest rates.
Wall Street comments on October non-farm payrolls: Will not affect the Federal Reserve's 25 basis point rate cut this month, the interpretation of the data is subjective.
Nick Timiraos, a Wall Street Journal journalist known as the 'new Fed news agency', stated that the analysis of this employment report can be 'subjective', while most Wall Street analysts believe that the poor data is mainly due to the two hurricanes in October and the Boeing strike, but some analysts are also concerned that the job market is indeed deteriorating. Almost all analysts believe that this report will not affect the expectation of a 25 basis point rate cut by the Fed this month.
Various sectors in the usa assess non-farm payrolls: Can 0.012 million still do the "American-style downward revision"? Rate cut expectations are stable.
1. The release of the USA non-farm payroll figures for October on Friday was only a meager 0.012 million, far below the market's expected 0.113 million, and the market expectations had already taken into account natural disasters and strikes; 2. The even weaker endogenous trend makes the Fed's interest rate cut next Thursday a foregone conclusion; 3. Considering the non-farm data for the first 9 months of this year, there have been 7 downward revisions, and the October data presents a potential highlight of 'revised to negative numbers.'
The S&P Manufacturing PMI in the usa rose to 48.5 in October, higher than the initial value.
The latest Purchasing Managers' Index (PMI) from s&p global shows that although the US manufacturing sector remained in contraction territory at the beginning of the last quarter, there are signs of easing decline. Seasonally adjusted US manufacturing PMI for October was 48.5, higher than the initial value of 47.8 and September's 47.3, but it has been below the 50 threshold for the fourth consecutive month. The latest data indicates a slight deterioration in business conditions, albeit at the lowest level since July. The uncertainty before the presidential election is believed to be the main reason for the continued decline in new orders, although the decline has slowed, with production shrinking for three months.
USA October ISM Manufacturing PMI fell to 46.5, hitting a 15-month low, with the price index soaring.
USA's October ISM Manufacturing PMI index fell to 46.5, hitting a new low since July 2023, below the expected 47.6 and lower than the previous value of 47.2 in September. The employment index has been below the boom-bust line for the fifth consecutive month, the price payment index surged by 6.5 points in a single month, production activities plummeted sharply, and inventories further declined.