USD Continues to WeakenOctober 18, 2013 Posted by: Joe O'Leary
The USD trades to an eight month low as the combination of the debt ceiling growth disruption, Yellen's nomination, and the upcoming US data uncertainty has pushed out expectations the U.S. Federal Reserve may delay scaling back its monetary stimulus following this month's political battles over the budget. In contrast to the U.S. economic woes, the latest data showed the Chinese economy expanded at a robust 7.8 percent in the third quarter, signaling policymakers may have averted a sharp slowdown for now. The strong data put the Chinese currency on track for its best weekly winning streak since February 2012 even as the dollar struggles.
• US data delay: Today’s expected US Data is delayed till next week due to shut down.
• Canada’s CPI expanded at a 1.1% y/y rate in September (median +1.0%), matching the 1.1% clip in August.
• Nymex crude found support as a rise in risk assets lifted it 0.20% higher to $100.90.
• Fitch placed the U.S. AAA rating on "watch negative" as authorities "haven’t raised the debt ceiling in a timely manner."
10/21 JPY: Trade Balance (Sept.)
10/21 USD: Existing Home Sales (Sept.)
10/21 USD: Leading Index (Sept.)
10/21 USD: Retail Sales (Sept.)
10/22 CAD: Retail Sales Reports (Sept.)
10/23 EUR: Consumer Confidence (Oct.)
10/23 USD: MBA mortgage Applications (Oct 18)
10/24 EUR: PMI Manufacturing and Services (Oct.)
10/24 USD: Jobless Claims (Oct 18)
10/25 GBP: GDP (Q3)
10/25 JPY: CPI (Sept.)
2 Year 0.31
5 Year 1.32
10 Year 2.58
30 Year 3.64Read More