US Dollar Index Defies U.S. Government Closure, Eyes on ECB Conference
Despite the U.S. government shut down the Wall Street closed in green yesterday looking for a quick break through of the budget gridlock. The S&P 500 rose by 0.80% to 1,695, Dow Jones Industrial Average Index gained 0.41% to 15,191.70 and NASDAQ climbed by 1.23%. The US dollar index recovered against previous expectations that uncertainty would weigh on the greenback. The US dollar index bounced up from yesterday support at 79.84 to as high as 80.25.
Moreover, market participants are betting that U.S government closure would be short and soon Republican and Democrats would find a solution. However, should we see further enhancement of gap that separates them, uncertainty would definitely weigh over risk appetite and stocks would start the downside.
See more: http://www.ifcmarkets.com/en/market-overview/show/1517