Compass Investments

– Non-Farm Payrolls data occupies an important place in this week’s event calendar. It is released on the first Friday of each month and reflects the employment situation in the US. Compared to the previous month, the number of employed workers, excluding agricultural workers, government employees, employees of private households and employees of non-profit organizations, increased.

the Employment Report for October, which will be released by the U.S. Department of Labor on Friday, November 1, may have a significant impact on financial markets. In particular, the labor market is expected to be hit again by Hurricanes Helen and Milton. These natural disasters are estimated to have caused a loss of up to 40,000 jobs in October.

economists expect non-farm payroll employment to increase by 125,000 this month after rising by 254,000 in September. The unemployment rate is also expected to remain unchanged at 4.1% . A weaker-than-expected jobs report could raise concerns about the stability of the economy and prompt investors to look for alternative investment options such as cryptocurrencies. However, a positive report showing strong job growth could spur consumer spending, boost economic growth and increase demand for digital assets.

the third quarter of this year’s GDP will be released by the Commerce Department’s Census Bureau on Wednesday, October 30. The median forecast is 3.2% , following 3.0% GDP in the second quarter; if GDP falls below this forecast, it would signal a cooling economy. However, some crypto traders, including Charles Hoskinson of Cardano, are downplaying the potential impact of the election.

These companies are due to release their earnings reports on October 31: Amazon and Apple.