In the lead-up to the US presidential election, which is attracting heightened global attention, FTMO highlights the significance of economic indicators in shaping financial market expectations. As the election approaches, market participants are increasingly focused on how the electoral outcome could influence economic policy and market dynamics.
Recent data from the US manufacturing and employment sectors has presented a mixed outlook. The ISM Manufacturing Purchasing Managers' Index (PMI) for October recorded an actual value of 46.5, falling short of the forecasted 47.6, while the S&P Global Manufacturing PMI finalized at 48.5, surpassing expectations. The Non-Farm Payrolls (NFP) for October showed a notable deviation from predictions, reporting only 12,000 new jobs against a forecast of 106,000, alongside an unchanged unemployment rate of 4.1%.
Conversely, the Euro Area inflation rate remained a crucial topic, with October's year-on-year rate coming in at 2.0%, slightly above the forecast of 1.9%. This data reflects a continuous trend that may influence both the equity and foreign exchange markets.
FTMO's traders emphasize the importance of maintaining discipline and mastering risk management strategies to navigate these volatile conditions. With the interplay of economic indicators and the impending election, FTMO remains committed to equipping traders with the insights necessary for long-term success in the ever-evolving financial landscape.