Idea of the Day We start moving on from the US shutdown and debt ceiling as US data starts to come through (employment report released tomorrow). As the weekly claims data has illustrated, a lot of data could well be distorted by the events of recent weeks, making it more difficult to read the underlying tone of the economy. Suggestions are that around 0.5% could have been knocked off growth in the current quarter, losses which may be hard to get back in the next quarter if the uncertainty continues. We outlined what we thought this meant for the dollar last week, with the delay of tapering and continued uncertainty making it more difficult for the dollar to push to the upside. The delay of data will also likely not be supportive of a stronger dollar tone. Data/Event Risks EUR: Just production orders data from Italy scheduled, which is not a major issue for the single currency unless significantly out of line against light volumes. USD: Existing home sales data is seen falling 3.3% in September, after 1.7% rise in August. The market has been starved of US data recently, so could be that it is more sensitive than usual to stronger or weaker data. Latest FX News JPY: Export growth fell short of expectations, with trade balance coming out at JPY 932bln. The yen was weaker on the news, USDJPY rising above 98.00 in a move that was largely sustained over the Asia session. AUD: The upside momentum to the Aussie appears to be waning, with a new high for the month made overnight just 1 pip higher vs. Friday’s level. USD: After the post-deal sell-off, it’s interesting to note that the weakness has been sustained, especially against the Aussie. This suggests a more fundamental shift in attitudes towards the dollar in the wake of recent events. The dollar stands just above an 8 month lows on the dollar index. Further reading: EUR/USD Oct. 18 – Surging Euro Hits Eight-Month Highs Forex Analysis: EUR/USD Achieves 1.3700 Upside Target FxPro - Forex Broker FxPro - Forex Broker Forex Broker FxPro is an international Forex Broker. FxPro is an award-winning online broker, offering CFDs on forex, futures, indices, shares, spot metals and energies, serving clients in more than 150 countries worldwide. FxPro offers execution with no-dealing-desk intervention and maintains a client-centric business model that puts customer needs at the forefront of our operations. Our acquisition of leading spot FX aggregator, Quotix, enables us to offer access to a deep pool of liquidity, as well as top-class order-matching and some of the most competitive spreads in the market. FxPro is one of only few brokers offering Negative Balance Protection, ensuring that clients cannot lose more than their overall investment. FxPro UK Limited is authorised and regulated by the Financial Conduct Authority (registration number: 509956). FxPro Financial Services Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (licence number: 078/07) and by the South Africa Financial Services Board (authorisation number 45052). Risk Warning: Trading CFDs involves significant risk of loss. View All Post By FxPro - Forex Broker Forex News Today: Daily Trading News share Read Next EUR/USD Oct. 21 – Quiet Start As Markets Await US Kenny Fisher 9 years Idea of the Day We start moving on from the US shutdown and debt ceiling as US data starts to come through (employment report released tomorrow). As the weekly claims data has illustrated, a lot of data could well be distorted by the events of recent weeks, making it more difficult to read the underlying tone of the economy. Suggestions are that around 0.5% could have been knocked off growth in the current quarter, losses which may be hard to get back in the next quarter if the uncertainty continues. We outlined what we thought this meant for the dollar… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.