The US economy continued to demonstrate strength in October, according to the latest flash PMI data.
October’s flash US PMI survey showed a continued rise in business activity, marking a strong start to the fourth quarter. This growth was driven solely by the service sector, as manufacturing output declined for the third month. Employment also saw a slight decrease for the third month in a row, reflecting uncertainties related to the Presidential Election.
However, confidence in the outlook for the upcoming year rebounded after a significant dip in September, with companies predicting more stability and certainty post-election. The survey also reported a slower pace of inflation for input costs and prices charged, with the latter dropping sharply to its lowest level since May 2020, largely due to a significant easing in service sector inflation.
Source: S&P Global
Currency markets remained volatile as ongoing Middle East tensions continued to shape global sentiment.
Hormuz Blockade Rattles Markets (09 - 13 March)Global sentiment was dominated this week by the second week of the war with Iran and the effective blockade of the Strait of Hormuz, driving Brent crude prices above $100/barrel. Despite a catastrophic US labor report showing a loss of 92,000 jobs in February, safe-haven demand pushed the US Dollar Index to 99.1. The energy shock has ignited fears of "stagflation," particularly in Europe and Japan, as soaring fuel costs threaten to reverse recent disinflationary trends.
Detail Oil Shock Drives Dollar Higher (03.09.2026)Global markets opened the week under pressure as escalating Middle East tensions and disruptions in the Strait of Hormuz pushed oil prices above $100 per barrel.
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