The Dow Jones Industrial Average (DJIA) flattened on Thursday, sticking close to the 46,500 region as equity markets hunker down to wait out the US federal government’s shutdown.

The United States’ (US) federal government officially shut down on Wednesday as lawmakers failed to pass funding by the deadline. Following a second round of voting, the Senate rejected House Republicans’ stopgap bill to restore funding. 

According to the ADP employment survey, 32,000 jobs were shed in the US in September. This was a stark contrast to expectations from a Bloomberg survey, which had forecast a gain of around 50,000 jobs.

US Dollar (USD) continued to trade near recent lows as ADP employment underwhelmed. DXY last seen at 97.57, OCBC's FX analysts Frances Cheung and Christopher Wong note.

USD remains under downside pressure against most major currencies. Global equity markets continue to edge higher while bond markets are treading water. The September US Challenger job cut announcement data is today’s highlight (12:30pm London, 7:30am New York), BBH FX analysts report.

Dow Jones futures hover near 46,700 during European hours on Thursday, ahead of the regular session opening in the United States (US). However, the S&P 500 futures advance 0.17% to stay above 6,750, while Nasdaq 100 futures rise 0.37% to break above 25,100.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its losses for the fifth successive session and trading around 97.60 during the European hours on Thursday.

The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, struggles to capitalize on the overnight bounce from a one-week low and oscillates in a narrow band during the Asian session on Thursday.

The Dow Jones Industrial Average (DJIA) churned the chart paper on Wednesday, facing pre-market and early hour losses before recovering its stance enough to hold close to the 46,500 level.

US lawmakers failed to reach a last-minute deal on funding the government last night, triggering the first federal shutdown in close to seven years.

The US government has officially shutdown. USD and US equity futures are down. If the shutdown is brief, the Fed will ignore it. However, a prolong shutdown (more than two weeks), increases the downside risk to growth and raises the likelihood of a more accommodative Fed.

It has indeed been the more defensive yen which has benefited the most from the US government shutdown, which went into effect overnight.

Many analysts have written about possible reasons for the divergence between the movement of 10-year US Treasury yields and the US dollar, with difficult US fiscal policy being a fairly straight-forward one.

US Dollar (USD) traded a touch softer overnight in amid concerns of US government shutdown. DXY last seen at 97.62 levels.

Dow Jones Index futures are trading lower on Wednesday, retreating to levels right above the 46.000 level, with investors wary of risk after the US federal government confirmed its shutdown earlier in the day.Wall Street Indexes are set to open in the red on Wednesday.

The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, remains under some selling pressure for the fourth straight day and drops to a one-week low heading into the European session on Wednesday.

The Dow Jones Industrial Average (DJIA) saw a slow bleed on Tuesday, shedding around 150 points as investors braced ahead of what is likely to be a federal government shutdown.

It should be noted that Vice President JD Vance has already warned that a government shutdown is imminent following talks with the Democrats, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes.

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 (USD) is set to continue weakening in the coming months. However, what is particularly interesting are the explanations other analysts offer for their respective forecasts. Recently, one argument has surfaced repeatedly: the increasing demand for hedging against USD weakness.

Dow Jones futures decline 0.18% to trade near 46,500 during European hours on Tuesday, ahead of the regular session opening in the United States (US). Meanwhile, the S&P 500 futures slid 0.19% to stay near 6,700, while Nasdaq 100 futures fall 0.21% to move below 24,800.

The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is remaining subdued for the third successive session and trading around 97.90 during the Asian hours on Tuesday.

The Dow Jones Industrial Average (DJIA) hit a fresh patch of bearishness on Monday, easing back slightly from the week’s early highs near 46,500.

US Dollar (USD) slips across the board, BBH FX analysts report.

In the months leading up to and following the November 2024 election, the USD performed similarly to how it did in 2016/17, i.e. before and after Donald Trump's first election as US President.

The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, trades on a stronger note around 97.95 during the Asian trading hours on Monday. The DXY declines amid the growing risk of a US government shutdown. 

The Dow Jones Industrial Average (DJIA) rebounded on Friday, paring away the midweek’s losses and recovering footing as investors self-soothe over odds of a follow-up interest rate cut in October.

If the mid-week rise in the US Dollar (USD) was a bit of mystery, yesterday’s additional gains at least had the backing of firmer than expected US data, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

The US dollar consolidates gains against its main peers on Friday, buoyed by a string of upbeat US macroeconomic releases.

There weren’t see evidence that the dollar rebound was driven by geopolitics, and it appeared more like US Dollar (USD) bears were setting a higher bar to justify the expensive dollar selling.