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18 Oct 2013
Morning outlook: Little data to drive the markets while yesterday's key themes continue
FXstreet.com (London) - With the debt ceiling crisis temporarily averted and kicked into early next year, markets are now waiting for US data to come back online.
As it gets through the backlog caused by the government shutdown, a data schedule has been released, with September payrolls scheduled for 22 Oct, and the October payrolls delayed a week to 8 Nov.
The Asian session carried on where the US left off, with equity markets rising on the prospect of Fed tapering being pushed back well into 2014. The same sentiment triggered dollar selling against EUR, GBP, CHF and CAD. EUR/USD strengthened to 9-month highs at USD1.3689.
But until agencies get back on schedule, data remains thin on the ground.
European data is virtually non-existent today.
The North American session will see Canadian September CPI, where consensus expectations are for a 0.2 percent rise month-on-month (1.1 percent year-on-year) for all-items CPI and a 0.3 percent month-on-month (1.3 percent year-on-year) for the core index. Consensus expectations would put CPI slightly above the Bank of Canada’s July forecast – it is widely expected that we will see a downgrade in the BoC’s third quarter projections when it meets next week.
As it gets through the backlog caused by the government shutdown, a data schedule has been released, with September payrolls scheduled for 22 Oct, and the October payrolls delayed a week to 8 Nov.
The Asian session carried on where the US left off, with equity markets rising on the prospect of Fed tapering being pushed back well into 2014. The same sentiment triggered dollar selling against EUR, GBP, CHF and CAD. EUR/USD strengthened to 9-month highs at USD1.3689.
But until agencies get back on schedule, data remains thin on the ground.
European data is virtually non-existent today.
The North American session will see Canadian September CPI, where consensus expectations are for a 0.2 percent rise month-on-month (1.1 percent year-on-year) for all-items CPI and a 0.3 percent month-on-month (1.3 percent year-on-year) for the core index. Consensus expectations would put CPI slightly above the Bank of Canada’s July forecast – it is widely expected that we will see a downgrade in the BoC’s third quarter projections when it meets next week.