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US strikes deal to avoid debt default – TDS

FXStreet (Delhi) – Prashant Newnaha, Rates Strategist at TD Securities, notes that the White House and lawmakers reached a deal to avoid a debt default, according to Bloomberg, extending the borrowing authority until March 2017, and likely to continue supporting Nov 5 and Nov 12 bills.

Key Quotes

“Durable goods orders will also come into focus, with headline orders expected to fall 1.3% m/m as ex-transport orders decline 0.6% m/m (market looking for a flat reading) and core orders slip 0.3% m/m (consensus at +0.2% m/m), reflecting generally softer investment intentions. October consumer confidence will also be closely watched, expected to slip to 101.2 from 103.0, reflecting a mild cooling in optimism.”

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