All Eyes On US As “Fiscal Cliff” Deadline Approaches
Renewed efforts by US lawmakers to reach a budget deal before a set of automatic tax increases and spending cuts, known as the “fiscal cliff”, go into effect at the beginning of the year, helped higher-yielding currencies regain some of their recent losses on Friday. This week, in addition to “fiscal cliff” news, traders will want to pay attention to a batch of US data scheduled to be released during the second half of the week. Specifically, Wednesday's ISM Manufacturing PMI, Thursday's ADP Non-Farm Employment Change, and Friday's all important Non-Farm Payrolls figure are all expected to generate heavy volatility in the marketplace. [More...]
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