Forex Technical & Market Analysis FXCC Oct 07 2013

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[b]Forex Technical & Market Analysis FXCC Oct 07 2013

Chinese government officials fire off warning to USA treasury

The DJIA closed down 0.90% having experienced a late sell off towards the close of the afternoon session on Monday. As the day unwound any optimism for a solution faded, as did the secular rally enjoyed mid afternoon in the New York session. The SPX followed suit, closing down 0.85% and the NASDAQ closed down 0.98%. In the Chinese government's first public comments on the deadlock, Zhu urged Washington politicians to "learn their lessons from history". A reminder that the US AAA credit rating was downgraded by S&P two years ago after the last debt ceiling standoff. Zhu said; "The United States is totally clear about China's concerns about the fiscal cliff. We ask that the United States earnestly takes steps to resolve in a timely way before October 17 the political [issues] around the debt ceiling and prevent a U.S. debt default to ensure safety of Chinese investments in the United States and the global economic recovery. This is the United States' responsibility."



2013-10-08 12:15 GMT | Canada. Housing Starts s.a (YoY) (Sep)
2013-10-08 16:00 GMT | Switzerland. SNB Chairman Jordan Speech
2013-10-08 23:30 GMT | Australia. Westpac Consumer Confidence (Oct)
2013-10-08 23:50 GMT | Japan. BoJ Monetary Policy Meeting Minutes

FOREX NEWS :
2013-10-08 05:00 GMT | USD/JPY pares earlier losses and strikes back above 97.00
2013-10-08 04:06 GMT | GBP/USD slightly downwards but consolidating yesterday