Binary Options Trading analysis written by David Frank
ECONOMIC NEWS
Fitch slashed Spain’s rating to AA- from AA+, citing risks of slow growth and high regional debt, and Italy’s to A+ from AA-, adding the outlook on its long-term ratings is negative. Moody’s also downgraded 12 UK financial institutions. The credit rating firm saying it sees a decreased likelihood of government support for smaller institutions in particular but specifying the move does not reflect a deterioration in the financial strength of the banking system.
Italy’s downgrade follows an earlier cut this week by Moody’s.
Out of the US, the monthly non-farm payrolls number grew more than expected in September, jumping 103,000 in September, but the unemployment rate remained steady at 9.1 percent. Economists had expected a total of 60,000 jobs to have been created.
THE WEEK AHEAD
MONDAY: Columbus Day—Markets open, banks closed
TUESDAY: NFIB small biz optimism index, 3-yr note auction, FOMC minutes, P&G shareholder mtg
WEDNESDAY: Weekly mortgage apps, 10-yr note auction, Fed’s Plosser speaks, Fed’s Pianalto speaks, Oracle shareholders meeting
THURSDAY: International trade, jobless claims, oil inventories, 30-yr bond auction, Fed’s Kocherlakota speaks; Earnings from JPMorgan
FRIDAY: Retail sales, import/export sales, consumer sentiment, business inventories, new iPhones available; Earnings from Mattel
ECONOMIC NEWS
Fitch slashed Spain’s rating to AA- from AA+, citing risks of slow growth and high regional debt, and Italy’s to A+ from AA-, adding the outlook on its long-term ratings is negative. Moody’s also downgraded 12 UK financial institutions. The credit rating firm saying it sees a decreased likelihood of government support for smaller institutions in particular but specifying the move does not reflect a deterioration in the financial strength of the banking system.
Italy’s downgrade follows an earlier cut this week by Moody’s.
Out of the US, the monthly non-farm payrolls number grew more than expected in September, jumping 103,000 in September, but the unemployment rate remained steady at 9.1 percent. Economists had expected a total of 60,000 jobs to have been created.
THE WEEK AHEAD
MONDAY: Columbus Day—Markets open, banks closed
TUESDAY: NFIB small biz optimism index, 3-yr note auction, FOMC minutes, P&G shareholder mtg
WEDNESDAY: Weekly mortgage apps, 10-yr note auction, Fed’s Plosser speaks, Fed’s Pianalto speaks, Oracle shareholders meeting
THURSDAY: International trade, jobless claims, oil inventories, 30-yr bond auction, Fed’s Kocherlakota speaks; Earnings from JPMorgan
FRIDAY: Retail sales, import/export sales, consumer sentiment, business inventories, new iPhones available; Earnings from Mattel