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Wednesday October 2, 2013 - 20:20:42 GMT
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ADP data disappoint. ECB: Little new
|ADP data disappoint. ECB: Little new|
3 October 2013 00:00 gmt
CALENDAR: Far East: CN/DE- Holiday. EZ/FR/DE/GB- Service PMIs, EZ- Retail Sales US- Weekly Jobless, Service PMI, N Gas
- HIGH IMPACT ITEMS: CN/DE- EZ/FR/DE/GB- Service PMIs, US- Weekly Jobless, Service PMI
- The reaction of markets to the partial shutdown of the U.S. government has been muted as it all is being seen as a meaningless political circus. The major focus is on the debt limit talks when the funding authority of the government runs out sometime around October 17.
- The ECB decision and press comments by ECB Draghi were not as dovish as some had hoped. It looks like the central bank is locked into a steady policy for the immediate future. One issue of concern for the markets remains the recent strength of the EUR.
- ADP private employment data released on Wednesday were a touch weaker tan expected. There is no telling when official U.S. NFP will be released, given the government partial shutdown. Weekly Jobless data will be released as previously scheduled on Thursday.A BOJ policy decision is due Friday. See the FOREX FORUM for latest key data and charts as they are released.
- 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 0.65% -2bp
||Asia Close Mixed|
||Bund 1.82% +1bp
||U.S. 2.62% -2 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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