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Govt shutdown charade persists. Weak US SVC PMI
|Govt shutdown charade persists. Weak US SVC PMI|
4 October 2013 00:00 gmt
||JGB 0.64% -1bp
||Asia Close Mixed|
||Bund 1.80% -2bp
||U.S. 2.60% -3 bp
||North America: Lower|
HIGH IMPACT ITEMS: CN- Holiday, JP- BOJ, US- Employment (postponed)
CALENDAR: Far East: CN- Holiday, JP- BOJ Europe: EZ- PPI North America: US- Employment (postponed), COT RPT
- The budget/debt ceiling circus continues. The President sees the partial shutdown of the government as in its political interest and is not unhappy to see it drag on. The major focus is on the debt limit talks when the funding authority of the government runs out sometime around October 17.
- U.S. Service PMI data, and especially its employment sub- component) were especially weak for September. Earlier, Weekly Jobless Claims remained at recent lows. Markets have stopped reacting to the Weekly Jobless data recently. See the FOREX FORUM for latest key data and charts as they are released.
- Latest Eurozone Retail Sales data were stronger than forecast. There is no telling when official September 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.
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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Tue 17 July 2018
AA: Major, A: High, B: Medium
AA 08:30 GB- Employment
A 13:15 US- Industrial Production
AA 14:00 US-Powell Testimony
Wed 18 July 2018
AA 08:30 GB- CPI
A 12:30 US- Housing Starts/Permits
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AA 1:30 AU- Employment
AA 08:30 GB- Retail Sales
A 14:30 US- EIA Crude
A 12:30 US- Weekly Jobless
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A 12:30 CA- CPI/Retail Sales
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