A possible US government shutdown first thing Wednesday morning is keeping USD under downside pressure, supporting Treasuries and driving gold prices to new highs. The logic is that a government shutdown could lead to a more dovish Fed. If a shutdown is brief, the Fed will ignore it.
The US dollar remained practically flat at 97.85 on the European morning trade on Thursday, consolidating gains after a 0.65% rally on Wednesday, as Federal Reserve officials warned against hopes of back-to-back interest rate cuts.San Francisco Fed President, Mary Daly, reiterated the view of Chairm
The Dow Jones Industrial Average (DJIA) rose on Monday, testing fresh all-time highs above 46,400. Despite some early session volatility, the Dow is following the rest of the US market higher to kick off the new trading week, with all major indexes showing green across the board.