US Fed Rate Cut of 50 Bps Clouded By Retail Sales and Jobless Claims; ECB Cuts Rate 📉

In September, stronger than expected growth in retail sales created a complex scenario for the anticipated US Federal Reserve rate cut. This situation is further complicated by an unexpected decrease in new jobless claims, offering a potential temporary uplift to both the economy and the cryptocurrency market.

Amid these developments, the European Central Bank (ECB) implemented its third interest rate reduction for the year. This decision was driven by a weak growth outlook and prevailing concerns over inflation, marking significant monetary policy actions in both the US and Europe.