Dollar Declines Amid Rising Risks of US Government Shutdown

Avatar photo

“`html

The U.S. dollar index (DXY00) is down by 0.13% amid concerns over an impending government shutdown and lower T-note yields, which have diminished the dollar’s interest rate differentials. The Conference Board’s U.S. September consumer confidence index fell to a 5-month low of 94.2, lower than the expected 96.0, putting additional pressure on the dollar. However, August JOLTS job openings increased by 19,000 to 7.227 million, surpassing expectations of 7.200 million, indicating a stronger labor market.

The S&P composite-20 home price index rose by 1.82% year-over-year for July, exceeding expectations of 1.55% and marking the slowest increase in two years. The MNI Chicago PMI for September declined by 0.9 to 40.6, below the anticipated increase to 43.3.

In Europe, Germany’s September CPI increased by 2.4% year-over-year, stronger than the expected 2.2%. However, retail sales unexpectedly fell by 0.2% month-over-month in August, and the unemployment rate rose by 14,000, which was higher than the expected increase of 8,000.

“`

The free Daily Market Overview 250k traders and investors are reading

Read Now