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%.


* USD Unemployment Rate
* USD Change in Non-farm Payrolls
* USD Fed Releases Minutes from Sept 17-18 FOMC Meeting
* CNY New Yuan Loans
* AUD Employment Change
* GBP Bank of England Rate Decision
* EUR German Consumer Price Index
* USD Advance Retail Sales
* CAD Unemployment Rate
* USD U. of Michigan Confidence

This article 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 Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell