The biggest news of the week was the start of a US government shutdown after US Congress could not agree on a bill to keep the government running. The shutdown affected all government reports including the much-anticipated nonfarm US government payrolls employment report that was scheduled for Friday as well as the weekly commitments of traders report that shows the positions of large and small speculators in the futures (currency) markets.
The dollar gained strength as the week went on and it will be interesting to see whether this trend continues as focus will likely continue to be on the government shut down and the impending US debt limit deadline on October 17. Will this looming uncertainty be a help or hindrance for the dollar going forward?
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Monday‘s data releases are mostly second-tier has the Eurozone investor confidence, Japan’s leading index & Coincident index as well as the Bank of Japan’s monthly economic report for October.
Tuesday‘s economic releases include a services PMI data out of China, the unemployment rate and retail sales data out of Switzerland, German trade balance data out of the euro zone and the Canadian housing starts.
Wednesday has the United Kingdom gross domestic product estimate, the UK trade balance and the US Fed meeting minutes.
Thursday will feature the Chinese new loans for September, the Australian employment change for September and the United Kingdom Bank of England interest rate decision.
Friday will have the German consumer price index out of the Euro zone, employment change out of Canada and the United States retail sales are scheduled.
Please see the week’s highlighted economic events below:
This Week’s Economic Highlights:
Sunday, October 6
Australia — performance of construction index
Monday, October 7
Japan — leading index/coincident index
Japan — monthly economic report by Bank of Japan
euro zone — Sentix investor confidence
United States — consumer credit
Japan — trade balance
Tuesday, October 8
China — services PMI
Switzerland — unemployment rate
euro zone — German trade balance
Switzerland — consumer price index
Switzerland — retail sales
euro zone euro zone — German factory orders
Canada — housing starts
United States — trade balance
Australia — consumer confidence
Japan — meeting minutes
Wednesday, October 9
United Kingdom — trade balance
United Kingdom — GDP report
United States — Fed meeting minutes
euro zone — German industrial production
New Zealand — manufacturing index
Thursday, October 10
China — new loans
Australia — employment change
Australia — inflation expectation
United Kingdom — interest rate decision
United States — weekly jobless claims
Friday, October 11
Euro zone — German CPI
United States — producer price index
Canada — employment change
United States — retail sales
United States — University of Michigan confidence survey
United States — business inventories
By CountingPips.com – Forex Blog
