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Forex Strategy Video: What the Debt Crisis Means for the US Dollar

Forex Strategy Video: What the Debt Crisis Means for the US Dollar

2013-10-07 23:25:00
John Kicklighter, Chief Currency Strategist
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Talking Points:

• The US government has been shuttered since October 1, but the true turning point comes October 17

• A US debt ceiling breach is a far more troubled risk for the financial markets

• In a budget deal and ceiling breach, the US Dollar could rally - though for different reasons

Sign up for John’s email distribution list, here.

The US budget and debt ceiling standoff is a troubling situation for the global financial markets - far more unsettling than is currently being priced in. And, therein lies the threat of severe volatility and funding distortion that can give rise to a new financial crisis. In contrast to the current budget impasses that has led to the US government shutdown, breaching the debt ceiling would contradict an unquestioned principle of the global markets: Treasuries are the baseline for safety. In todays Forex Strategy Video, we discuss the importance of this event risk, highlight what to watch for and weigh on how the markets will trade with the different scenario.

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