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Thursday October 10, 2013 - 19:42:03 GMT
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Weekly jobless spike -- special factors. Movement on Budget?
|Weekly jobless spike -- special factors. Movement on Budget?|
11 October 2013 00:00 gmt
| CALENDAR: Far East: CN- Trade.Europe: No Major Data. North America: CA- Employment, US- data postponed (shutdown)|
||JGB 0.66% +1bp
||Asia Close Lower|
||Bund 1.87% +6bp
||U.S. 2.69% +4 bp
HIGH IMPACT ITEMS: CN- Trade, CA- Employment
- U.S. weekly jobless claims spiked higher in the latest week. Data were distorted by California computer issues and by the government shutdown. See the FOREX FORUM for latest key data and charts as they are released.
- As expected, the Bank of England kept policy steady today. Very recent economic data has been softening a bit.
- There might have been some softening in the U.S fiscal debate, and this talk has given markets a lift Budget/debt default debate negotiations are now focused on October 1. Odds favor a six week extension to the debt limit to November 22. Then we start all over again.
- Australian September Employment data were not as strong as expected, but the unemployment rate fell. See the FOREX FORUM for latest key data and charts as they are released.
- Janet Yellen is the candidate to take Bernanke's job as Fed Chair in late January. She is widely seen as a policy dove. We would characterize her as more of a moderate. Based on what we see currently, her Senate approval for the job should not be a problem..
- The latest Fed Meeting Minutes confirmed that the central bank is of many minds on the issue..
- Top items on Friday are employment figures from Canada and U.S. Retail Sales data (likely postponed).
- 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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