The US: Due to the shutdown of government, many economic indicators are not released. It isexpected that the economic indicators will be released two days after the shutdown ofgovernment ends.
The US: New Fed chairman
It is expected that Obama will nominate Janet Yellen, the current Vice Chair of the Governorsof the Federal Reserve, to become the new chairman of the Fed. Hence one unknown factorwill be resolved. The Fed chair is one of the most important positions in the US. Themonetary policy chosen by the chairman will have a direct impact on the value of USD. In thiscase, it means that the dove (Ben Bernanke) will be followed by an ultra-dove (Yellen). Henceit seems that the Fed will continue the course that has followed for many years now. JyskeBank’s US economists still expect that the Fed will begin to scale down its QE at its Decemberor January meeting. This means that USD will continue the recent weakening trend until thescaling down will again attract attention in the FX market.
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