Second US Government Shutdown Underway

U.S. government funding lapsed Friday as Congress’ efforts to pass a spending bill fizzled out in the Senate for the second time in less than a month.Despite bipartisan support for a massive budget agreement, Congress failed to approve a funding plan before the midnight Thursday deadline. It is just the latest example of gridlock on Capitol Hill during the current GOP-controlled Congress.In this case, Sen. Rand Paul, R-Ky., blocked repeated moves to vote on the measure over concerns about massive spending increases contained in the budget deal. Paul called the spending reckless and pushed for a vote on an amendment to reinstate budget caps, which Senate leadership did not allow.

Source: Government shutdown starts as Congress fails to pass spending bill – CNBC

Hawks coming home to roost

GBP/USD – Pound Gains Ground as BoE Hints at Rate Increase

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.