Finance

Nonfarm payrolls from ADP (Oct): 239K.

Forecast: 195K. The US labor market is on fire, which means the Fed will keep raising rates. The market expects a 0.75% hike today.

Although the data is not that critical. As ADP notes, the increase was mostly at the expense of newly hired workers whose paychecks did not rise. And this means that the threat of rising inflation is small.

At the same time, the main increase in new employment occurred in low-paying jobs: bartenders and waiters. In other areas, on the contrary, employment is declining.

To summarize: The U.S. economy is feeling good so far. Maybe a deep recession can be avoided.

ECB tries to save EU economy - central bank will be flexible in reinvesting PEPP program

The pandemic has left persistent vulnerabilities in the eurozone economy that contribute to the uneven normalization of our monetary policy among different countries, the ECB said. The ECB has instructed Eurosystem committees and ECB services to accelerate the development of a new mechanism to combat fragmentation. Why it matters. Rising

Price for oil price cap yet to be determined, head of European Commission

"The EU is ready in principle to go to the oil price cap," von der Leyen added. Earlier, the head of the U.S. Treasury Yellen said that the U.S. is not against the purchase of oil by India above the price cap. The WSJ also reported citing sources

U.S. officials forced to roll back plan to limit Russian oil prices - Bloomberg

India and China - Russia's most important trading partners - will not participate, Bloomberg sources said. The price cap plan is still alive after all. However, the price cap will be higher than previously thought. Earlier, U.S. Treasury Secretary Yellen said the price ceiling could be in the range

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