The USD is lower to start the NA session. US Government shutdown is over. Yields higher.

The US yields are higher by about 2 basis points, but the USD is lower vs all the major currencies to start the new day. Looking at the USD’s moves vs the major currencies, they are showing:

• EUR -0.25%
• JPY-0.11%
• GBP -0.38%
• CHF -0.33%
• CAD -0.06$
• AUD -0.40%
• NZD -0.05%

In the video above, I take a look at the 3 major currency pairs – the EURUSD, USDJPY and GBPUSD- and outline the the short/medium term bias, the risks to that bias and the targets on where the momentum is taking the price. Knowing the roadmap is essential for traders as they trade the markets.

The US shutdown is over. Now the focus will return to the data but that will of course be delayed.

What can we expect?

Major data agencies including the Bureau of Labor Statistics (BLS) and the Bureau of Economic Analysis (BEA) are expected to prioritize the release of Principal Federal Economic Indicators (PFEIs), and most postponed reports will be rescheduled. However, specific dates are often announced only after the agencies are fully operational and have assessed the data integrity and processing time.

• Updated Schedules: The Bureau of Labor Statistics (BLS) is expected to publish an updated release schedule shortly after the government reopens. This will be the most authoritative source for the new dates.

• Delayed Reports: Historically, agencies have worked to release delayed reports shortly after a shutdown ends. For example, the September Jobs Report (which was due shortly after the shutdown began) is expected to be released quickly.

• Lagged Data: Later reports, such as the November data, are also likely to see a delay of at least a week to allow staff to process the previous month’s backlog.

In short, while the government has reopened, a definitive, combined schedule from all major sources is not yet available.

The first critical step is waiting for the BLS and BEA to publish their revised calendars.

Today, Fed’s Kashkari and Hammack are expected to speak. The US treasury will auction 30 year bonds after an average 10 year note auction yesterday.

US stocks are lower in pre-market trading:

• Dow -44 points
• S&P -10 points
• Nasdaq -41 points

In the US debt market:

• 2 year yield 3.584%, +2.1 basis points
• 5 year yield 3.690%, +2.3 basis points
• 10 year yield 4.092%, +1.3 basis points
• 30 year yield 4.671%, +0.9 basis points