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7 Mar 2013
Forex Flash: Continuing Appropriations Resolution pushed back from March 27th - BTMU
Derek Halpenny, European head of Currency Strategy at the Bank of Tokyo Mitsubishi UFJ notes that trade, productivity and claims data will be released today in the US.
He sees that the developments will follow some good news from Congress yesterday where the Continuing Appropriations Resolution – which effectively controls discretionary spending, was extended from 27th March to the end of the fiscal year meaning there will be no risk of government departments running out of money at month-end. he writes, “We also had a very positive ADP employment report with 200k new jobs created in small firms in January-February – a positive sign for the domestic economy, and the dollar.”
He sees that the developments will follow some good news from Congress yesterday where the Continuing Appropriations Resolution – which effectively controls discretionary spending, was extended from 27th March to the end of the fiscal year meaning there will be no risk of government departments running out of money at month-end. he writes, “We also had a very positive ADP employment report with 200k new jobs created in small firms in January-February – a positive sign for the domestic economy, and the dollar.”