China’s deflationary pressures, disappointing US job growth, the FED Chair Powell’s speech is expected and US employment rate steady

U.S. Nonfarm Payrolls is disappointing job growth

September nonfarm payrolls data was at 22,000. But is below the expectation of 75,000 and lesser than the previous month of 79,000. This poor performance draws attention to the US lower employment growth, which could have broader economic consequences. Since most economic activity is driven by consumer spending, which is often influenced by job creation, a lower number could signal potential concerns. 

U.S. Unemployment Rate is steady but higher unemployment

The US employment rate for September was 4.3%, it is in the forecast range and slightly higher than the previous month rate. That is 4.2%. This shows the labor market is steady also it is in high level. But the higher unemployment rate seems as a negative figure for the USD. Because it can indicate a weak labor market and make doubt on the overall strength of the economy. Meanwhile, a lower unemployment rate is considered as positive for the USD, indicating a stronger economy.

China faces Deflationary Pressures as CPI and PPI Disappoint

In September, the Consumer Price Index (CPI) of China fell by -0.4%, which is worse than the forecasted rate of -0.2%. The low consumere demand will put pressure on prices, this leads to deflationary pressures in the Chinese economy. Also, the Producer Price Index (PPI) fell by -2.9%, which was an improvement over the past date of -3.6%. By whole, the negative PPI number shows pursuing defaltionary trends.  Both these points are leading the economy to the inflation and sluggish growth, which is an issue for the CNY. Because it shows a slowdown in industrial and consumer activity.

OPEC Monthly Oil Market Report and Outlook

The OPEC monthly oil maret report and its outlook is a primary focus. Key elements like global oil supply and demand also the overall market balance are covered in the report along with the significant developments which will impact oil market. Because OPEC has the control over the oil production and prices, which will impact the global energy prices. Which in turn affect the inflation and the state of the global economy.

Speech by Federal Reserve Chair Jerome Powell 

Traders and investors pay close attention to Federal Reserve Chair Jerome Powell speech because of his significant influence over U.S. monetary policy. As head of the Federal Reserve, he has the authority to affect economic conditions, interest rates, and the value of USD. His public speech about future monetary policy actions are awaited by traders for hints about inflation expectations, economic risks, and possible rate hikes. His words are important for anyone following the USD or more general market trends since his speech has the power to cause significant market movements.