USD Starts Weaker As Debt Deadline Nears; No Deal In Sight
We enter the 14th day today of the US shutdown with the debt limit to be reached by Thursday and no sign of a deal. The one good bit of news is that the talks are continuing and most believe it will be resolved by the time a default comes in to play. As of yet USD has started weaker from the open, dropping against JPY, EUR and GBP. With no data out today for the US due to the bank holiday all are awaiting news from the US about any deals.Overnight in Asia we see China export data drop and inflation rise. This has kept the AUD relatively flat on risk off trade, with data out that home loans in Australia have decreased.In the eurozone we have some data releases, with industrial production expected to be better than last month and the Euro Group meetings, which will be watched for any mention of Greek bailout number 3. Merkel will be busy this week as she tries to form the coalition government so any news on this could have an impact on the euro.EUR/USD Supports 1.3540 1.3500 1.3480 | Resistance 1.3600 1.3645 1.3710USD/JPY Supports 98.00 97.70 97.50 | Resistance 98.50 98.75 99.20GBP/USD Supports 1.5950 1.5900 1.5875| Resistance 1.6010 1.6065 1.6115Disclosure: FX Solutions assumes no responsibility for errors, inaccuracies or omissions in these materials. FX Solutions does not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. FX Solutions shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result from these materials.The products offered by FX Solutions are leveraged products which carry a high level of risk to your capital with the possibility of losing more than your initial investment and may not be suitable for all investors. Ensure you fully understand the risks involved and seek independent advice if necessary.