SimpleFX Market News
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China hits back at the U.S.

Beijing just rolled out new port fees targeting all U.S.-linked vessels โ€” those owned, operated, built, or flagged by the United States.

๐Ÿ›ณ Hereโ€™s the twist: Chinese-built ships are exempt.

Each American-linked vessel will be charged at its first port call in China, covering either a single voyage or up to five trips per year, with the cycle resetting every April 17.
Chaos continues to shake the markets โ€” volatility isnโ€™t slowing down anytime soon. Hereโ€™s what moved prices last week.

๐Ÿช™ Crypto Bleeds Red
Another rough week for crypto traders. Bitcoin dropped 3.5%, XRP lost 6.2%, and only stablecoins stayed green.

๐Ÿ›ข Oil Under Pressure
The U.S.โ€“China trade war is weighing heavily on oil. Prices slipped below $57 per barrel โ€” the lowest since May.

๐Ÿ’ท Pound Power
The British economy is showing strength again. GBP gained on upbeat GDP, industrial, and manufacturing data.
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Markets stayed chaotic this week ๐Ÿ‘€

โ€ข Beyond Meat (BYND) exploded from ~$0.50 โ†’ $7+ after Reddit hype ๐Ÿš€
โ€ข Oil rebounded as new sanctions hit Russian supply โšก๏ธ
โ€ข Gold & Silver cooled off after recent highs ๐Ÿ“‰
โ€ข Tesla kicked off Q3 earnings with a disappointment ๐Ÿš—

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Note: FOMC decision today.

Time: 18:00 PM (UTC, 24-hour)
Consensus: 25bp cut

Will the Fed meet expectations, or will we be in for a surprise?
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NFP Reading Tomorrow ๐Ÿ‡บ๐Ÿ‡ธ

Tomorrow, November 7, at 1:30 PM UTC, we'll get the postponed US labor market data.

Expectations sit at shocking -20k for October's data! That would mean the weakening goes on.

This would be the first negative labor market reading since January 2021 (excluding the reading from July of this year)!

Such disastrous data may affect the valuation of all assets quoted in dollars, as well as the FOMC's decision regarding the further path of monetary adjustment.
NFP Reading Postponed ๐Ÿ‡ฑ๐Ÿ‡ท๐Ÿ—“

Due to the ongoing government shutdown, labor market data will be released with a delay.

Expectations for October point to -20k, suggesting a significant weakening of the U.S. labor market.
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