Global markets will have a dump of US data this week giving some insight into how the economy was performing leading into the October political stalemate

Global markets will have a dump of US data this week giving some insight into how the economy was performing leading into the October political stalemate. The market is more likely than not to discount most of the data flow, as the more important economic news will be how the economy performed during the shutdown. Data is unlikely to be available until January/February leaving markets in limbo for a period of months. For Australia the focus of the economy is getting further away from the US and more towards China and the rest of Asia. While the US economy and its markets will remain influential drivers for Australia and the world, this influence will continue to fade. Developments in the eurozone and China will grow in importance and disinvestment away from US dollars will no doubt remain the key global trend over coming years. (VIEW LINK)