Moreover, “Hurricane Sandy may also have an impact on the data docket this week. Indeed it is conceivable that various US economic data releases between now and the next couple of days could be delayed.” they add. Bloomberg news reported that the release of the Non Farm Payrolls data this Friday may also be delayed given that usual preparations for the report typically intensifies in the final week before the release.
“As the situation remains fluid, we suspect assessing the economic impact will be more of a guesstimate for now.” the analysts posit. Media reports, citing risk modeling specialists, have put initial estimates of the damage to be in the range of $10B to $20B and insured losses are estimated at $5B to $10B.