Senate Passes New Spending Bill

Congress moved one step closer early Friday to setting a major spending increase, following hours of drama on the Senate floor that led to the second partial government shutdown in less than a month.The Senate passed a short-term funding bill and cleared the way for a boost to military and domestic spending. Senators voted 71-28 to approve the deal, but the chamber failed to do so before the clock turned to Friday and government funding lapsed.Sen. Rand Paul, R-Ky., mounted hours of solo resistance to the budget deal over what he called reckless spending. He repeatedly objected to efforts by senators to quickly move to a vote on the agreement.

Source: Government shutdown news: Senate passes government funding bill – CNBC

Hawks coming home to roost

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

Content 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 Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.