The stalemate continues in Washington, with no progress made in talks between Democrats and Republicans. Consequently, the U.S. Department of Labor has postponed the release of jobs figures scheduled for this morning. The currency market should be relatively calm leading into the weekend.
October 17 is fast approaching, and the possibility of a failure to raise the federal debt ceiling before the deadline is leading to fears of a return to recession for the world's largest economy. The U.S. Treasury warned yesterday that the consequences of a default could be catastrophic, with fallout continuing for decades, including a drop in investments, a rise in interest rates and low economic growth. House Speaker John Boehner attempted to reassure lawmakers, pledging that he wouldn't let the country default. It's a good bet that yet another last-minute deal will be reached!
Yesterday's ISM Non-Manufacturing Index figures came in below expectations, doing nothing to improve investor sentiment. Today, we will be paying attention to comments by several Fed members. The loonie and the euro are relatively stable, and the futures market is pointing to small gains on Wall Street. Emmanuel Tessier-Fleury
Range of the day: 1.0290-1.0385
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NBC Daily Forex : October 04, 2013
Published 10/06/2013, 03:24 AM
Updated 05/14/2017, 06:45 AM
NBC Daily Forex : October 04, 2013
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