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Dollar Declines on U.S. Government Shutdown

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USD

On Monday, the Greenback fell vs. a basket of major currencies after the U.S. government was forced to shut down. The United States federal government’sshutdown entered a third day after failing to agree on a last-minute deal to fund its operations amid a dispute over immigration and border security. This is the first U.S. government shutdown since 2013, under President Barack Obama. That year, it endured for 16 days.

  • The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down by 0.21% at 90.30.

EUR

The Single currency rose by 0.20%, to settle at $1.2248. the Common currency backed by news that Germany's Social Democratic Party voted on Sunday to start formal coalition negotiations with Chancellor Angela Merkel's conservatives.

GBP

The Sterling pound rose by 0.31%, to settle at $1.3901. No major reports are due from the UK today.

JPY

The USD settled vs. the JPY despite US government shutdown with USD/JPY at ¥110.70.

Gold

Earlier today, Gold prices declined as the Greenback recovered after falling earlier on a U.S. government shutdown, with market players on wait-and-watch mode. Gold Futures - Feb 18 (GCG8), fell by 0.12%, to settle at $1,331.50.

Oil

Early on Monday Oil prices climbed, backed by comments from Saudi Arabia that cooperation between oil producers who are currently withholding supplies would continue beyond 2018. Additionally, oil prices pushed up by a decline in U.S. drilling activity. Crude Oil WTI Futures - Feb 18 (CLG8) rose as much as 22%, to settle at $ 63.45 and Brent Oil Futures - Mar 18 (LCOH8) was up by 0.23% at $68.77.

The most important economic events:

  • USD U.S. to Sell USD42 Bln 6-Month Bills: (GMT 16:30) – Low –

Disclaimer
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