On Tuesday market investors appeared to brush off the partial shut down of the USA government; equities rallied in Europe and the USA, whilst the Nikkei and the ASX 200 rose. However, Wednesday was an entirely different scenario; the USA markets fell sharply shortly after the market opened to recover some losses towards the end of the session. Perhaps it was the reality finally hitting investors that this impasse might in fact last long enough to cause irreparable short term damage to USA GDP, if not resolved before October 17th, the date at which the USA treasury department has predicted as the day the USA may begin to default on its obligations. blog.fxcc/the-ecb-keeps-rates-at-0-5-usa-jobs-numbers-disappoint-whilst-the-govt-shutdown-enters-its-second-day
Posted on: Thu, 03 Oct 2013 06:19:54 +0000