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Monday September 30, 2013 - 10:02:43 GMT
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Japan and China PMIs weak. US government shut-down looms
|Japan and China PMIs weak. US government shut-down looms|
30 September 2013 10:00 gmt
CALENDAR: US- Chicago PMI.
- HIGH IMPACT ITEMS: US- Chicago PMI
- The immediate focus in the U.S. is on the budget impasse. The budget runs out at the end of the day today. A temporary government shutdown is likely if no agreement is reached. Despite all the hand-wringing, this whole process is charade with both sides playing for a political advantage.
- PMI data from both Japan and China (HSBC) were both weaker than expected. German retail sales data,after revisions were better than expected for August.
- The week ahead will be especially heavy on the data front. The early part of the week will see a slew of final PMI reports for September, plus the quarterly Japanese Tankan Survey. The markets watch the PMI reports closely even though they are not as good predictors of key economies as some might hope. Wednesday through Friday will see a number of U.S. employment reports. Street estimates currently are for a lackluster 180K increase in U.S. jobs in the month.
- Janet Yellen appears to be the likely candidate to take Bernanke's job as Fed Chair in late January. Her nomination could come as early as this week or next. She should be a safe appointment.
- For additional key items and more detail (dates, times, data estimates), be sure to reference our Economic Calendar . See the FOREX FORUM for latest key data and charts as they are released.
||JGB 0.69% 0bp
||Asia Close Lower|
||Bund 1.76% -2bp
||U.S. 2.61% -1 bp
||North America: Lower|
FX Trade Talk: What's moving markets-- Commentary, data. and data charts posted continuously on FOREX FORUM
John M. Bland, an author and a founding partner of Global-View.com, has been a corporate FX consultant for a major N.Y. bank, a forex trader for a major N.Y. institution, and an FX analyst for a blue chip Fed watching service.. John has an MBA in International Finance and an A.B. in Economics from the University of California at Berkeley.
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John M. Bland, MBA
co-founding Partner, Global-View.com
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