After a September end that ended with gains for Wall Street, notwithstanding market uncertainties, US indices kicked off October yesterday with losses that halved the month-to-month appreciation. previous. This is because after last week private consumption data already warned of a serious brake on the confidence of the main catalyst of the US economy, the consumer, on Tuesday it became clear what damage the new phase of trade war has already provoked.
At around 11% of the economy, the manufacturing sector now gives very clear evidence that economic growth could be stagnating, with the Institute for Supply Management for the sector coming out at 47.8 for September, the worst value. for the last ten years and the second consecutive month in which it has contracted, as it is below 50. On Friday we will see if non-farm payrolls confirm the bearish trend that is beginning to feel for the world’s largest economy. October is usually a month that prefers Bears red over Bulls green.
Photo by Thomas Lefebvre.
Marco Silva is a Financial Market Specialist with 20 years of experience, with transactions in 12 different countries, involving numerous financial instruments, Specialist in Technical Analysis, Capital Manager, Investment Advisor, Financial Hedging Operations and Algorithm trading developer. Economic Commentator TV and RTP Information for the Financial Markets, Responsible for the Department of Economy / Markets of TVL.
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© 2019 High Leverage FX - All Rights Reserved.