It appears that U.S. legislators were able to find common ground and will soon be submitting a bill to President Obama to postpone the debt ceiling for three more months. Without the extension, it is estimated that Washington would not have had the funds needed to pay its bills by early March. Both parties therefore gave themselves a little more wiggle room to come to a more sustainable agreement regarding the country's fiscal situation. Let's hope that the coming political jousting will have a more encouraging outcome than the last installment in December.
Two major announcements are scheduled south of the border today. First at 8:30 this morning, January Private Nonfarm Payroll data will be released. Markets anticipate a slight gain in job creation with 165k new positions in January, up from 155k in December. Unemployment should remain stable at 7.8%. Next, the ISM Manufacturing Index for January will be released at 10:00 a.m. Observers expect a reading of 50.6, up from the previous 50.2. Wishing you a great weekend!
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NBC Daily Forex
Published 02/01/2013, 03:15 AM
Updated 05/14/2017, 06:45 AM
NBC Daily Forex
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