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What is a Federal Government Shutdown? A Federal Government Shutdown occurs when the U.S. Congress fails to pass appropriations bills (budget legislation) for the upcoming fiscal year—or a temporary funding measure known as a Continuing Resolution (CR)—before the deadline of September 30th. Simply put, the government loses the legal authority to spend money on many of its operations. This…
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Official Employment Report (Non-Farm Payrolls – NFP) – 08:30 ET / 14:30 CEST ISM Services (PMI) – 10:00 ET / 16:00 CEST Fed Speakers Key Context: The government shutdown is disrupting the flow of official economic data (delaying NFP, Jobless Claims, CPI, Factory Orders). This increases market sensitivity to private data releases and policy-related headlines.…
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1) Today’s U.S. Agenda (potential catalysts) Times in ET / CEST (Berlin) Context: The federal shutdown is delaying/clouding some of the data flow and complicates the Fed’s “data-dependence”; this can increase sensitivity to surprises and private data. Next FOMC: Oct 28–29. Sources: marketwatch.com, Reuters Tactical Take: Today, the focus is on Jobless Claims (labor pace),…