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Will a US Government Shutdown Delay NFP?
The US government appears set for a shutdown this week - how could that impact the US Dollar and this week's economic data? FOREX.com's Global Head of Research Matt Weller breaks down the key news you need to know ahead of the US Open, as well as taking a look at today’s chart of the day, EUR/USD.
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President Donald Trump is scheduled to meet with the top four congressional leaders Monday in a high-stakes sit-down at the White House that could determine whether the federal government shuts down this week. Funding is set to run out at 12:01 a.m. Wednesday unless Trump and leaders on Capitol Hill can reach an eleventh-hour agreement. The Democratic ...
This, in turn, has pushed the USD Index (DXY) to 98.60, where better sellers have emerged at the August range highs and the 100-day MA. Those long of USDs will want to see a daily close above 98.80 and below 1.1660 (EURUSD) to see technical momentum build, but that will likely require rates traders to reprice/reduce expectations for a Fed cut in the October ...
Party leaders in Congress have long criticized government shutdowns as toxic and destructive. “Always a bad idea,” former Senate Majority Leader Mitch McConnell, R-Ky., said of shutdowns in 2024. A potential “disaster,” Democratic Leader Chuck Schumer of New York said of the shutdown the country narrowly avoided when he voted with Republicans to keep the ...