Week in FX Americas VP Debate Heats up Election

October 12, 2012 Share Print 0

The US stock market closed at a loss as earnings season continues. The market’s attention has been focused on two topics: The US election and the European Crisis. Not getting as much airtime as last time is the budget deficit.

The budget deficit this year is the fourth largest since WWII clocking in at USD 1.09 trillion, but an improvement over 2011 where it was USD 1.3 trillion. The fiscal cliff for this year is $1.2 trillion in spending cuts.

There are signs of growth in the US economy. The unemployment rate was reported lower, as low as when Obama first took office. The housing recovery was highlighted by the Fed earlier this week. The bottom line is the election and the European crisis will drive the direction of the USD in the coming weeks more than the economic indicators.

WEEK AHEAD

ALL IMF – World Bank Annual Meetings
CNY Consumer Price Index
USD Advance Retail Sales
NZD Consumer Prices Index
AUD Reserve Bank Board – October Minutes
GBP Core Consumer Price Index
EUR Euro-Zone ZEW Survey
EUR Euro-Zone Consumer Price Index
USD Consumer Price Index
GBP Bank of England Minutes
GBP Jobless Claims Change
EUR German Producer Prices
CAD Consumer Price Index

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Bio
Twitter
Google+
Latest Posts

Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.