The latest economic data before the US election is coming: What will the Fed do?

The latest job market data before the US elections on November 5 will be announced today. Employment and unemployment data will also closely add the Fed meeting two days after the election.

Before the US elections, which the crypto world is waiting for with excitement, the latest economic data on the job market will be announced today. Non-agricultural employment and unemployment figures for October in the USA will be announced today.

Uncertainty between recession and inflation...

Last month, surprisingly, the participation in employment, which was announced much more than expectations, was 254 thousand. Excessive employment figures in the markets, "Hasn't inflation decreased?" It created fear. However, the same markets also experienced a fear of recession after the figures that were far below expectations in August.

Therefore, the figures, which may be exaggerated, positive or negative, will also closely affect the Fed's interest rate decision on November 7. Fed chairman Jerome Powell regularly emphasizes that they make decisions from meeting to meeting and that they make interest rate decisions according to short-term data.

The Fed's 50 basis point discount in September also lowered November expectations.

Oil increased

Headline Oil prices, which are of serious importance in terms of the course of inflation, have also started to increase since last night. The news that Iran could launch an attack on Israel from Iraq raised the price of oil per barrel, which fell below $70 last week, to over $75 at night.

The fact that the core inflation, which excludes energy and food prices, remains above 3%, stands out as another factor that binds the Fed's hands to interest rate cuts.