EUR/USD registers gains of over 0.20% on Monday amid worries of a possible government shutdown in the US, while data in the Eurozone, showed that sentiment improved but failed to propel the shared currency higher. At the time of writing, the pair trades at 1.1726 after hitting a daily low of 1.1701.
Shared currency gains modestly as political gridlock in Washington undermines sentiment
The Greenback is on the backfoot against most G10 FX currencies as US President Donald Trump met with the two leaders of the Democrats of the House of Representatives and the Senate.
US Senate Democrat leaders Schumer met with Trump, said "We have large differences." Democratic House of Representatives leader Jefferies said that they would not support a partisan republican bill that hurts healthcare.
In the meantime, Vice President Vance said that the US headed for shutdown after talks with democrats, revealed a Bloomberg headline.
US housing data was upbeat earlier, while Federal Reserve officials delivered mixed remarks. St. Louis Fed President Alberto Musalem was hawkish, said that inflation expectations are "somewhat high" and recognized the labor market softened. Cleveland's Fed Beth Hammack said that inflation is too high and that the trend is in the wrong direction.
New York Fed John Williams said that policy is restrictive, but in a position to put downward pressure on inflation, and that the resilient labor market is gradually softening.
in the European session, Consumer Sentiment improved in the Eurozone but remained below the historical average.
Ahead this week, the docket will feature ADP National Employment Change, the ISM Manufacturing PMI, Initial Jobless Claims and Nonfarm Payrolls for September.
Source: Fxstreet
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