Weekly Forecast
The EUR/USD pair edged lower and bottomed at 1.1542 on Thursday, ending the week in the red in the 1.1570 price zone on Friday. The US Dollar surged on the back of risk aversion, triggered by political woes on both shores of the Atlantic.
The Pound Sterling broke the previous consolidation against the US Dollar to the downside, as GBP/USD tested levels under 1.3300.
Bitcoin steadies around $121,300 at the time of writing on Friday, after setting a new record high of $126,199 four days ago. While BTC experiences a minor correction so far this week, profit-taking remains modest and overall selling pressure continues to stay low.
The US Dollar spent the week on the back foot, pulling back from last week’s highs and dragging the US Dollar Index (DXY) down toward the 97.50 area, still moving within the broader consolidation that’s been in place since early August.
More News
In-Depth Analysis
Tariffs remain one of Trump’s main foreign policy tools, as well as an important source of public finance funding. Beyond the daily churn of breaking news, US tariffs remain firmly in place.
The economic outlook is unusually cloudy at present. On Oct. 1, the federal government shut down as lawmakers failed to pass a bill to fund the government past September. As we go to print, the shutdown continues with a reopening date uncertain.
