US: All eyes on funding deal today – Deutsche Bank

Sandeep Kanihama FXStreet Contributor

According to analysts at Deutsche Bank, US President Trump is reportedly going to sign the funding deal today negotiated by House and Senate lawmakers.

Key Quotes

“The deal would provide additional funding for border security, albeit not a wall as the President has asked for, which will according to Bloomberg headlines prompt him to declare a national emergency in order to divert funding from other sources to wall construction.”

“We got further hints in this direction overnight with the White House spokeswoman Sarah Huckabee Sanders saying in a statement that, “President Trump will sign the government funding bill, and as he has stated before, he will also take other executive action -- including a national emergency -- to ensure we stop the national security and humanitarian crisis at the border.” Such a move is likely to be challenged in the courts, which will likely take months or years to resolve.”

“More immediately relevant, the funding deal will avert a shutdown, which will allow government programs to continue operating, enable the IRS to continue disbursing tax refunds, and permit statistical agencies to continue their data releases unimpeded.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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