According to BlockBeats, on October 11, the CPI report on Thursday showed that the US CPI in September exceeded expectations across the board, and the process of inflation decline was hindered. Another data showed that the number of initial jobless claims in the United States last week rose to the highest level in more than a year. The market pays more attention to the impact of the slowdown in the labor market. Traders bet that the probability of a 25 basis point rate cut in November has risen to 83.3%, and the probability of a pause in the rate cut is 16.7%.
According to 4E monitoring, after the data was released, U.S. stocks opened lower, tried to turn higher at noon, and then closed lower again, with the Dow Jones Industrial Average down 0.14%, the S&P 500 down 0.21%, and the Nasdaq down 0.05%. Most of the crypto markets fell, and Bitcoin once again lost the $60,000 mark, with a price of $60,533 as of press time.
Non-US currencies rose and fell, expectations for a 25 basis point rate cut increased, and the US dollar index fell slightly; oil prices were affected by tensions in the Middle East and Hurricane Milton, bidding farewell to two days of consecutive declines and soaring by more than 3.5%; expectations of rate cuts provided support for gold prices, with spot gold rising by more than 0.9% at its highest intraday, bidding farewell to six days of consecutive declines, and spot silver rose by more than 2.2%, bidding farewell to three days of consecutive declines.
The unexpected increase in CPI in September has intensified the market discussion on whether the Fed will suspend interest rate cuts. However, the Fed officials' statements show that employment is the dominant factor in the current policy, and the employment data in October will be the key to determining the pace and extent of the Fed's easing. eeee.com is a financial trading platform that supports cryptocurrencies, stock indexes, bulk gold, foreign exchange and other assets. It recently launched a USDT stablecoin wealth management product with an annualized yield of 5.5%, providing investors with potential hedging options. 4E reminds you to pay attention to market volatility risks and allocate assets reasonably.