Investing.com - Financial Markets Worldwide

Danske Daily: Nervous Day With US Debt Deadline Set

ByDanske Markets
Published 10/16/2013, 04:13 AM
Updated 05/14/2017, 06:45 AM

We have a nervous day ahead of us with the "soft" deadline for raising the debt ceiling set to be midnight in the US. If the deadline is missed, it does not mean that the federal government will immediately default on its payment obligations as the Treasury still has a small cash reserve, but it will obviously be negative for financial markets if an agreement is not reached today. It still looks most likely that we will get a late deal as a Senate bill should be able to get a majority in the House. The risks are mainly procedural in the sense that approval can get delayed in the Senate or the House majority does not allow a vote on the bill at all.


In light of the political drama unfolding today's data releases will only be secondary. In the UK the release of the September unemployment rate should get some attention, as the unemployment rate has become the most important UK release after the Bank of England committed to low interest rates until unemployment drops to 7.0%. Fed will publish its survey of regional economic developments in its Beige Book. Also keep an eye on Iranian talks regarding the country's nuclear programme. Finally, ECB president Mario Draghi is scheduled to speak at 20:00 CET.

To Read the Entire Report Please Click on the pdf File Below.

Latest comments

Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.