Stronger-than-Expected Retail Sales and Jobless Claims Reduce Expectations of Aggressive Fed Rate Cuts

Published: Oct 18, 2024 08:12

Save

["'Scary Data' Exceeds Expectations, Fed Rate Cut Likely to be Reduced"] In macroeconomics, the monthly rate of retail sales in the US in September recorded 0.4%, slightly higher than expected; the number of initial jobless claims in the US for the week ending October 12th reached 241,000, lower than the expected 260,000. After the data was released, expectations that the Fed would reduce interest rates at a smaller pace over the next year and a half were strengthened, the US dollar index rose, putting pressure on copper prices. In addition...

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

5 mins ago

High Copper Prices and Off-Season Demand Slow Shandong Market Trading; Spot Premium at 110 Yuan/MT

Shandong copper cathode: Copper prices stayed high and downstream demand was in the traditional off-season, leaving overall market trading sluggish during the week. As of Thursday, spot was quoted at a premium of 110 yuan/mt.

5 mins ago

8 mins ago

Sluggish market trading atmosphere, spot price pulls back to 110 yuan/mt [SMM Shandong Copper Cathode Spot Weekly Review]

8 mins ago

10 mins ago

US Win-Win Metals Industry Co., Ltd. Shines at SMM CCAE 2026 (15th) Copper Annual Conference

10 mins ago