Forex Weekly Outlook October 7-11 The US dollar has been on the back foot due to the government shutdown. FOMC minutes, Draghi’s speech, US unemployment claims and consumer sentiment are the main events. Here is an outlook on the major market movers of this week. The US government entered a partial shutdown for the first time in 17 years, as politicians in Washington refused to budge from party lines sending 800,000 nonessential workers home. Economic data in the U.S. was mixed with jobless claims remaining low at 308,000, much better than market forecast. The highly important NFP was not released due to the government shutdown. ISM index disappointed, falling to 54.4 from 58.6 ensuring tapering will not start next month. Will the political conflicts be resolved before the US reaches default? In Europe, Draghi didn’t seem worried about falling inflation and in the UK, the pound took a break from rallying despite good data. ... Read more : forex-tsd/financial-news-analytics/26338-forex-news-493.html#post636936
Posted on: Sat, 05 Oct 2013 09:05:01 +0000
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