{"id":47597,"date":"2013-10-01T09:41:00","date_gmt":"2013-10-01T09:41:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-down-as-government-shutdown-begins\/47593\/"},"modified":"2013-10-01T09:41:00","modified_gmt":"2013-10-01T09:41:00","slug":"forex-market-update-dollar-index-down-as-government-shutdown-begins","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-down-as-government-shutdown-begins\/47597\/","title":{"rendered":"Forex Market Update: Dollar Index Down as Government Shutdown Begins"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p>The dollar index fell sharply on Tuesday as investors cut positive bets on the <a href=\"http:\/\/www.knowfinance.com\/currency\/\" target=\"_blank\" rel=\"noopener\">currency<\/a> following partial U.S. government shutdown, which came in to effect from the midnight of October 1.<\/p>\n<p><span id=\"more-47597\"><\/span><\/p>\n<p>Lawmakers failed to build a consensus over the spending limit with both sides maintaining their respective stance. This is the first government shutdown in last seventeen years.<\/p>\n<p>At last check, the Dollar Index, a measure on U.S. unit\u2019s performance against a basket of six major traded currencies, fell 0.25% to 80.03.<\/p>\n<p>Against the euro, the dollar fell to its eight-month low. However, surprisingly, global equity markets were trading higher with safe-haven assets such as <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a> edging lower.<\/p>\n<p>At last check, the euro was up 0.16% against the dollar to trade at $1.3547.<\/p>\n<p>Market participants expect the shutdown to be a temporary one though. Lawmakers have now about two weeks to resolve the issue before the next key mid-October deadline.<\/p>\n<p>If the impasse still remains then the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> will be disinclined to pullback its economic stimulating measures, which could further weaken the dollar. The Fed is scheduled to hold its next open market committee meeting (FOMC) on Oct. 29-Oct 30.<\/p>\n<p>\u201cWe do not know how long this impasse in the U.S. will last. If it persists, there is a chance it will hurt economic growth and affect chances of Fed tapering,\u201d said Daragh Maher, strategist at HSBC, according to Reuters.<\/p>\n<p>\u201cIn the short term, it&#8217;s better to avoid the dollar,\u201d added Maher<\/p>\n<p>&nbsp;<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-down-as-government-shutdown-begins\/47597\" data-title=\"Forex Market Update: Dollar Index Down as Government Shutdown Begins\"><\/div>\n<p><script id=\"mNCC\" language=\"javascript\">  medianet_width='600';  medianet_height= '250';  medianet_crid='814932888';  <\/script>  <script id=\"mNSC\" src=\"https:\/\/web.archive.org\/web\/20131005021906js_\/http:\/\/contextual.media.net\/nmedianet.js?cid=8CUT71M67\" language=\"javascript\"><\/script> <\/p>\n<p><!-- AddThis Button BEGIN --><\/p>\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a><br \/>\n<a class=\"addthis_button_preferred_2\"><\/a><br \/>\n<a class=\"addthis_button_preferred_3\"><\/a><br \/>\n<a class=\"addthis_button_preferred_4\"><\/a><br \/>\n<a class=\"addthis_button_compact\"><\/a><br \/>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n<p><script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script><br \/>\n<!-- AddThis Button END --><\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-sharply-higher-19\/47692\"><br \/>\nStocks End Sharply Higher<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-slip-posts-about-2-weekly-loss-silver-price-also-edge-lower\/47687\"><br \/>\nGold Prices Slip, Posts about 2% Weekly Loss; Silver Price Also Edge Lower<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-bounce-back-after-a-shaky-start\/47685\"><br \/>\nStocks Bounce Back after a Shaky Start<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-euro-edges-down-against-dollar-dollar-index-up\/47683\"><br \/>\nForex Market Update: Euro Edges Down against Dollar, Dollar Index Up<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-flat-in-early-trade\/47681\"><br \/>\nStocks Flat in Early Trade<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-mainly-flat-silver-prices-edge-lower-2\/47676\"><br \/>\nGold Prices Mainly Flat, Silver Prices Edge Lower<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stock-futures-gain-12\/47674\"><br \/>\nStock Futures Gain<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20131005021906im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><!--script type=\"text\/javascript\">\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\n<\/script>\n<script type=\"text\/javascript\"\nsrc=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script--><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>The dollar index fell sharply on Tuesday as investors cut positive bets on the currency following partial U.S. government shutdown, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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