NFP deprives investors of hope | What will the week bring?

The event that attracted the most attention of investors last week was undoubtedly the publication NFP report for September. Employment increase by 263 thousand with expectations of 255 thousand. it shows that Federal Reserve there are no arguments at this point to soften its current position on the shape of US monetary policy. This, in turn, translates into a drastic drop in hope for the so-called Fed pivot, which would support the heavily overestimated US stock market.

OPEC cuts mining

The decision of the OPEC countries to cut crude oil production turned out to be similarly unfavorable news. The drop in production is expected to amount to as much as 2 million barrels per day, which led to a dynamic break in the price of brent crude oil from a wide downward channel and a test of around USD 98 per barrel. The situation on the oil market is also extremely important for the US administration, which is preparing for the mid-term elections to Congress scheduled for the second week of November.

We invite you to a webinar with the Chief Economist XTB Przemysław Kwiecień, PhD, in which he will focus on the key topic of the last few days - NFP takes away hope from investors!

In today's video:

• September NFP - the end of dreams about the so-called Fed pivot? 
• OPEC cuts production - what does this mean for oil prices?
• Do market sentiment herald a turning point?

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In addition, due to the very dynamic situation in the world, additional ones will be made available raports Video on the impact of war, pandemic and economic crisis on the global economy.

About the host

Dr Przemysław Kwiecień - Chief economist X-Trade Brokers. Doctor of Economics at the University of Warsaw, graduate of the University of Warsaw and London Metropolitan University (MSc). Holder of the prestigious CFA certificate. He has been working for XTB since 2007, previously he gained experience as an advisor to the Minister of Finance, Mirosław Gronicki, and an economist at Bank Millennium. At XTB, he manages the Analysis Department.

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