US Senate Leaders Optimistic About Reaching an Agreement

October 15, 2013 Share Print 0

US Senate leaders have expressed optimism after a flurry of negotiations on raising the federal debt ceiling to avert a potentially disastrous default.

They were also nearing a deal to end a partial government shutdown, now in its third week, congressional sources said.

A budget bill would also need to pass the House of Representatives, where a faction of conservative Republicans brought on the deadlock two weeks ago.

The US must raise its $16.7tn (£10.5tn) borrowing limit by Thursday.

As he toured a soup kitchen for the poor in Washington DC on Monday, President Barack Obama warned that “defaulting would have a potentially devastating effect on our economy”.

via BBC

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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.