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Tuesday October 8, 2013 - 09:11:32 GMT
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Budget impasse to continue until the last minute? U.S. data on hold

Budget impasse to continue until the last minute? U.S. data on hold
 8 October 2013 10:00 gmt

Spot
20d avg
10-yr
Equities
EURUSD  1.3566
1.3466
JGB 0.66% +1bp
Asia Close Higher
USDJPY 97.10
 98.58
Bund 1.82% +2bp
Europe Lower
EURJPY 131.75
132.76
U.S. 2.64% +2 bp
North America:Higher

  CALENDAR: North America: CA- Trade. US- 3-yr Auction, API


HIGH IMPACT ITEMS: DE- Trade, Factory Orders, CA- Trade
    • The absence of U.S. data due to the budget impasse  has trading anf the (Fed?) on hold. Look for the politicians to run the clock out until the last minute or even beyond. Swiiss CPI daya today suggest the high value of the currency is depressing economic activity.

    • Budget/debt default debate negotiations are now focused on October 17. If history is aguide, there is a fair amount of leeway in that date. We will see. So far we have the following U.S, data postponed this week: Trade, Wholesale inventories, Import Prices, Retail Sales, Business Inventories, PPI.

    • 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?) are due.
    •  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.

    • 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. BlandJohn 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.
      Copyright 2013, GlobalViewpoint, Inc All rights reserved

       

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      GVI Trading. Potential Price Risk Scale
      AA: Major, A: High, B: Medium

      Mon 26 Feb 2018
      A 15:00 US- New Homes Sales
      Tue 27 Feb 2018
      A 08:55 DE- Jobless
      B 13:30 US- Durable Goods
      A 15:00 US- CB Consumer Confidence
      A 15:00 US- Pending Homes Sales
      AA 15:00 US- Powell House Testimony
      Wed 28 Feb 2018
      A 10:00 EZ- flash HICP
      AA 13:30 US- GDP
      A 15:30 US- EIA Crude
      Thu 1 Mar 2018
      A All Day final Mfg PMIs
      A 13:30 US- Weekly Jobless
      AA 13:30 US- Core PCE Deflator
      AA 15:00 US- Powell Senate Testimony
      A 15:30 US- EIA Crude
      Fri 2 Mar 2018
      AA 15:00 US- final Univ of Mich



      John M. Bland, MBA
      co-founding Partner, Global-View.com
      Start trading with forex broker Markets Cube



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