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USD unsettled as US government shutdown enters week 2

As US politicians negotiate over funding and spending, the USD cannot settle - the shutdown has caused the cancellation of scheduled data-releases and leave the USD with a severe lack of fundamental statistics to absorb.
This week has plenty of central bank speakers and the US Fed minutes are released later this evening and will drive the USD i the medium-term.

GBP: GBP: GBP/EUR has recovered after a poor run last week - trading above 1.1500 but stuck in the 1.1375 - 1.1550 range. UK finances continue to be a concern, but news from the Eurozone is hardly positive, allowing the pair to climb. On the other hand, GBP/USD has whipsawed between 1.3500 and 1.3400 over the previous week, now settling at the lows.

USD: The US Dollar climbs to its highest level since August 25 amid a broadly weaker Japanese Yen and the Euro. Though, traders are kept on standby, with mounting economic concerns concerning the future of the government shutdown, which enters its second week now. Traders expect US central bank to lower borrowing costs by 25 basis points each in October and December. Tonight’s minutes will be closely watched to see if they reinforce market positioning

EURO:  Euro took a hit this Monday after resignation of yet another French Prime Minister, Sebastien Lecornu. His government having lasted barely half a day, political instability is clear and if not addressed, could delay the French budget. The FX market knows EUR pairs will be reasonably affected by President Macron’s next decision. Today, EUR/USD pair stays around 1.1620, well below levels above 1.1725 seen in September.

This weeks data:

Wednesday:
EUR: Lagarde Speech
US: FOMC Minutes

Thursday:
US: Fed’s chair speech

Friday:
CAD: Employment data
USD: Consumer data

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