Silver MCX Trading Call – Above 37699 Level, Target 38400—39100 – Neal Bhai Reports
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- Powell said that based on the data that they have, “the outlook for employment and inflation does not appear to have changed much since our September meeting four weeks ago.” Furthermore, added that data shows that economic activity might be firmer than expected. He added that risks to the labor market had increased, along with inflationary pressures.
- Powell said that elevated inflation is due to rising goods prices, which reflect “tariffs rather than broader inflationary pressures.”
- The Fed will receive an update on consumer price inflation on October 24. The Bureau of Labor Statistics announced that it will release its latest Consumer Price Index (CPI) report amid the ongoing shutdown.
- The NFIB Business Optimism Index tumbled 2 points to 98.8 last month, the first decline in three months. The NFIB Uncertainty Index jumped 7 points from August to 100, the fourth highest reading in over 51 years.
- The NFIB Chief Economist Bill Dunkelberg said “Uncertainty is very high, the (Trump) administration has a lot of policy changes still in the air, lots of moving parts.” Despite this, he revealed that economic growth is solid, driven “perhaps” by AI-related investments, then “by spending that impacts Main Street firms.”
Technical Power of CFA’s
(CHARTERED FINANCE ANALYST)
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Neal Bhai Reports (NBR) By CFA’s and MFA’s Technical Team
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