Odaily Planet Daily News: According to a research report by CICC, the US non farm payroll data for October was weak and below expectations, partly affected by hurricanes and strikes. The hurricane forced a large number of people to evacuate, significantly reduced the response rate of corporate surveys, sharply reduced employment in leisure and accommodation services, and led to a surge in the number of people unable to work due to weather conditions. The strike resulted in a significant decline in employment in the manufacturing industry. But these are temporary disturbances, and their effects may reverse in the coming months. Overall, the US labor market is still gradually cooling down and there are no signs of rapid deterioration.
Taking into account the overall economic data, it is predicted that the Federal Reserve will cut interest rates by 25 basis points next week, and monetary policy will continue to return to normalcy, but the pace of interest rate cuts will not be as aggressive as previously expected by the market. (Golden Ten)
