Week in FX Americas – The Next Payroll Is When?

Most non-NFP Friday’s are boring and yesterday was no exception. The longer this US partial shutdown carries on the more the postponed data releases are going to pile up. When will we get the next US jobless report? That all depends on how long the current US partial government shutdown actually lasts.

The market should be expecting the report to be ready for release soon after the government reopens because a bulk of the data collection should already be done. Dealers are now expecting that the first available Friday will be pegged for this week’s missed NFP release.

Despite some hopes for a fiscal deal, investors continue to offload some very short term US T-bills that mature around that mid-October deadline. Current market bill trading suggests that investors remain worried about the US debt ceiling and the possibility of a technical US default. Money market traders have indicated that the one-month bill (October 30th) is bearing the brunt of the liquidation. Yields have backed up from 0.137% to today’s 0.19%.

• Fed’s Fisher Mentions Not Starting Tapering Was Close Call
• US President Asia Trip Cancelled Due to Shutdown
• NFP Report Cancelled Due to Lack of Funding
• NFP Void has Markets Looking Elsewhere
• Compromise Proposed By Bipartisan House Group
• I Will Not Let Nation Default: Boehner tells Republicans
• Gold Rises on US Shutdown Concerns
• US Jobless Claims Rise But Market Optimistic About Recovery
• IMF Chief Warns About Far Reaching Effects of US Shutdown
• US NFP Report Could Be Delayed by Government Shutdown
• US Mortgage Rates Drop This Week
• Some Investors Speculate on US Default Later This Month
• US Government Shutdown Hurts Stocks
• Obama tells Wall Street to be Worried
• Bank CEOs Visit Obama about Debt
• Three Triggers to snap out of U.S. Gridlock
• Fed’s Rosengren: Tapering Process May Last For Years
• US Private Payrolls Add 166,000 Jobs in September
• No Quick Resolution Seen to U.S. Government Shut Down
• U.S. Dollar up from 8 Month Low after Manufacturing Data
• Looming U.S. Debt Ceiling could be a lot Worse
• US Dollar Retreats After Government Shutdown
• U.S. Debt Ceiling may provide Opportunities

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