Sandy storm will impact on the Non-Farm Payrolls Report. The U.S. Labor Department will await U.S. employment report period October which is also the last report before the U.S. presidential elections to measure the effects of the storm Sandy on the U.S. labor market. Monthly unemployment data are scheduled for release on November 2 is expected to increase by 125 000 workers during the month of October with the unemployment rate edged up to 7.9% from the previous 7.8%.
Employment report is also expected to affect the decision of the electorate whether President Obama deserves a chance to be President of the United States for four years, compared to Republican candidate Mitt Romney. The Obama administration has so far demonstrated the performance of employment growth in 24 consecutive months as evidence of economic recovery, while the Romney campaign said that progress was still very slow recovery.
The former General Electric Co. CEO Jack Welch accuse the Obama administration had manipulated data manpower to take political advantage after unemployment rate falls below the estimated in September to its lowest level since the leadership of Obama in 2009.
Economic Outlook Sterling worry England
Solid UK data failed to save the pound on Monday, which had traded lower against the U.S. dollar as the erosion of demand for riskier currencies by the uncertainty of the fate of Greece and Spain. While concerns about the impact of Hurricane Sandy in the United States would encourage demand for the U.S. dollar as a safe haven. Banks disbursed loans to UK consumers increased at the fastest pace in more than 4 ½-year in September. Credit approvals for house purchase also exceeded expectations.
To further focus of investors will be drawn to the PMI manufacturing and construction sectors in the UK this weekend, which will indicate whether the strong momentum of the 3rd quarter to continue into the 4th quarter. "Investors are waiting for the PMI appears middle of this week, which may be a matter of debate in the BoE meeting next week," said Daraghi Maher, currency strategist at HSBC.
Employment report is also expected to affect the decision of the electorate whether President Obama deserves a chance to be President of the United States for four years, compared to Republican candidate Mitt Romney. The Obama administration has so far demonstrated the performance of employment growth in 24 consecutive months as evidence of economic recovery, while the Romney campaign said that progress was still very slow recovery.
The former General Electric Co. CEO Jack Welch accuse the Obama administration had manipulated data manpower to take political advantage after unemployment rate falls below the estimated in September to its lowest level since the leadership of Obama in 2009.
Economic Outlook Sterling worry England
Solid UK data failed to save the pound on Monday, which had traded lower against the U.S. dollar as the erosion of demand for riskier currencies by the uncertainty of the fate of Greece and Spain. While concerns about the impact of Hurricane Sandy in the United States would encourage demand for the U.S. dollar as a safe haven. Banks disbursed loans to UK consumers increased at the fastest pace in more than 4 ½-year in September. Credit approvals for house purchase also exceeded expectations.
To further focus of investors will be drawn to the PMI manufacturing and construction sectors in the UK this weekend, which will indicate whether the strong momentum of the 3rd quarter to continue into the 4th quarter. "Investors are waiting for the PMI appears middle of this week, which may be a matter of debate in the BoE meeting next week," said Daraghi Maher, currency strategist at HSBC.
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