The US Government shut-down rolls on, with markets unable to decide, whether it is good or bad. US equity markets operate around record highs, while bond yields are drifting lower, allowing the US Dollar to flat line. This will mean that there will be no Non-Farm Payroll number released today, but this will begin to impact more substantially, the longer the shut-down continues. The EUR held 1.1700, while the GBP drifted lower to trade 1.3430.Australian trade data was weaker than expected and the AUD drifted back below 0.6600, while the NZD managed to hold above 0.5800. The impact of the US Government shut-down will become more apparent, if the impasse continues into the weeks, rather than days. The problems come when the question is asked, why do we need this bureaucracy at all, as most citizens are not impacted negatively.
