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If you wish to open an account in an EU investment firm and protected by EU laws, you will be redirected to Ultima Markets Cyprus Ltd (the “CIF”), a Cyprus investment firm duly licensed and regulated by the Cyprus Securities and Exchange Commission with license number 426/23.
The U.S. dollar weakened on Thursday as investors assessed data indicating both labor market softness and a slight rise in consumer prices, which suggests that the Federal Reserve may continue cutting interest rates.
According to data from the Labor Department, the consumer price index (CPI) increased by 0.2% in September. However, on a year-over-year basis through September, the CPI rose 2.4%, marking the smallest annual increase since February 2021. In an interview with the Wall Street Journal on Thursday, Atlanta Federal Reserve Bank President Raphael Bostic expressed comfort with the idea of skipping an interest rate cut at the Fed’s upcoming meeting.
(U.S CPI y/y, Source: Forex Factory)
Further data from the Labor Department revealed a surge in unemployment claims last week, partly due to the impact of Hurricane Helene and Boeing furloughs. This spike in claims led to lower bond yields, as it reminded the market of the Fed’s concerns regarding the labor market.
(U.S Unemployment Claims, Source: Forex Factory)
Additionally, traders are now pricing in an 85% likelihood that the Fed will cut rates by 25 basis points at its November 7 policy meeting, with a 15% chance of no change, according to the CME Group’s FedWatch Tool.
Disclaimer
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Ultima Markets, a trading name of Ultima Markets Ltd, is authorized and regulated by the Financial Services Commission "FSC" of Mauritius as an Investment Dealer (Full-Service Dealer, excluding Underwriting) (license No. GB 23201593). The registered office address: 2nd Floor, The Catalyst, 40 Silicon Avenue, Ebene Cybercity, 72201, Mauritius.
HuaPrime EU Ltd, registered number HE423188, and with a business address at Georgiou Griva Digeni 122A, Kallinicos Court, Shop 1—Upper level, Neapolis, 3101 Limassol, Cyprus, is regulated by the Cyprus Securities and Exchange Commission, which has CIF license number 426/23.
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