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Sunday October 6, 2013 - 17:34:11 GMT
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Quiet Calendar U.S. economic data postponed
|Quiet Calendar U.S. economic data postponed|
7 October 2013 00:00 gmt
HIGH IMPACT ITEMS: AU/CN- Holiday
||JGB 0.66% +2bp
||Asia Close Lower|
||Bund 1.83% +3bp
||U.S. 2.65% +4 bp
||North America: Higher|
CALENDAR: AU/CN Holidays, JP- Lead Indicator
- The administration has been trying to make the government "shutdown" as high-profile an event as possible, but life for the vast majority of Americans has been unchanged. Furthermore,. If past history is a guide, even those who were furloughed by the shutdown will have their lost pay restored afterwards. President Obama wants to see the Republican Party shoulder all the blame for this circus.Equity and fixed income markets have been unaffected by this theater.
- As for Fed "tapering", the partial shutdown of the government has resulted in key economic data not being released, so policy is on hold. Janet Yellen appears to be the likely candidate to take Bernanke's job as Fed Chair in late January. It might be that the Her nomination is being held up by the budget impasse. This is a non-partisan job, and she would
be a safe appointment for Obama. Yellen is widely seen as a policy dove.
- Top items due in the week ahead include trade figures from Germany, Canada, US (postponed?) and the U.K. plus employment figures from Australia and Canada. A Bank of England policy decision is set for Thursday. On Friday U.S. retail Sales data (postponed?) is due.
- 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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John M. Bland, MBA
- POTENTIAL PRICE RISK: HIGH Mon -- 14:00 GMT EZ- Draghi speaks in Brussels. Looking for any policy hints or bias
- POTENTIAL PRICE RISK: HIGH Tue -- 13:30 GMT US- Existing Homes Sales. Top Housing Statistic
- POTENTIAL PRICE RISK: HIGH Tue -- 23:30 GMT US- Yellen Speech. Early evening. Looking for anything on policy
- POTENTIAL PRICE RISK: Medium Wed -- 13:30 GMT US- Weekly Jobless, Durable Goods
- POTENTIAL PRICE RISK: Medium Wed -- 15:00 GMT US- final University of Michigan Survey
- POTENTIAL PRICE RISK: Medium Wed -- 15:30 GMT US- EIA Crude
- POTENTIAL PRICE RISK: HIGH Wed -- 19:00 GMT US- FOMC Policy Minutes. Key policy release
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