According to the latest news, the record 41-day government shutdown in the US is expected to come to an end tomorrow after the Senate passed a temporary funding measure backed by a group of eight Democrats.
The Senate vote on Monday occurred against a backdrop of growing disruptions in air travel, delays in food assistance, and dissatisfaction among federal employees, most of whom have been without pay for over a month.
The bill will now go to the House of Representatives, and if approved there, it will be sent to President Trump, who is expected to sign it immediately, restoring funding for federal agencies. This temporary solution gives a reprieve to hundreds of thousands of federal employees who were either furloughed or working without pay. If signed into law, it would allow most of the government to operate until January 30, while some agencies would be funded until September 30.
Moderate Democrats reached an agreement that scrapped the party's demand to reinstate expiring subsidies under the Affordable Care Act, which angered progressives who have been in a sharp confrontation with Trump. It is worth noting that the centrist Democrats who ended the shutdown agreed to a Republican promise that the Senate would vote by mid-December on extending Obamacare premium subsidies. However, there are no guarantees that enough Republicans will support the extension of these subsidies, and it should be remembered that Obamacare was one of the sticking points that contributed to the prolonged shutdown.
Resuming air travel could take several days, and for the 42 million low-income Americans participating in the Supplemental Nutrition Assistance Program (SNAP), receiving delayed benefits will likely take even longer. With the resumption of federal operations, lengthy delays and unmet obligations are likely.
The underlying issue in the Democrats' struggle to reinstate tax benefits for Obamacare remains a widely discussed topic, as 24 million Americans could face rising insurance premiums, potentially meaning hundreds of dollars more in monthly medical insurance costs.
California's Democratic Governor Gavin Newsom called the deal "pathetic," while Illinois Governor J.B. Pritzker criticized the Senate vote on the Democrats' demands, labeling it a "hollow promise." Senator Elizabeth Warren, a Democrat from Massachusetts, expressed her belief that this was a terrible mistake. She emphasized that the American people expect lawmakers to advocate for healthcare rights and stated that this is precisely what they should be doing. House Democratic Leader Hakeem Jeffries also criticized the government's reopening plan, stating that Democrats in his chamber would not support it.
The new bill also includes funding for the Departments of Agriculture and Veterans Affairs, as well as the Food and Drug Administration, military construction projects, and Congress itself until September 30. The compensation will also be paid to all federal employees who were denied their salaries during the shutdown, and any layoffs of federal employees will be prohibited until January 30.
This deal demonstrates how challenging it is for Democrats to use the limited influence they have in a Republican-controlled Washington to counter Trump's plans.
The currency markets reflected little reaction to these developments.
In terms of the current technical picture for EUR/USD, buyers now need to focus on reclaiming the 1.1570 level. Only by doing so can they aim for a test at 1.1590. From that point, it is also possible to rise to 1.1610, but achieving this without support from major players will be quite challenging. The furthest target is around 1.1636. In the event of a decline, serious buying interest is expected around the 1.1545 level. If there are no buyers present at that zone, it might be wise to wait for a new low of 1.1520 or to open long positions from 1.1490.
As for the current technical outlook for GBP/USD, pound buyers need to break through the nearest resistance at 1.3180. This would allow them to aim for 1.3215, above which further upward movement will be quite challenging. The furthest target is the 1.3245 area. If the pair declines, bears will likely attempt to take control at the 1.3140 level. If they succeed, breaking below this range would deliver a significant blow to the bulls' positions, pushing GBP/USD down to the 1.3095 minimum, with the potential to reach 1.3056.
The material has been provided by InstaForex Company - www.instaforex.com
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According to the latest news, the record 41-day government shutdown in the US is expected to come to an end tomorrow after the Senate passed a temporary funding measure backed by a group of eight Democrats.
The Senate vote on Monday occurred against a backdrop of growing disruptions in air travel, delays in food assistance, and dissatisfaction among federal employees, most of whom have been without pay for over a month.
The bill will now go to the House of Representatives, and if approved there, it will be sent to President Trump, who is expected to sign it immediately, restoring funding for federal agencies. This temporary solution gives a reprieve to hundreds of thousands of federal employees who were either furloughed or working without pay. If signed into law, it would allow most of the government to operate until January 30, while some agencies would be funded until September 30.
Moderate Democrats reached an agreement that scrapped the party's demand to reinstate expiring subsidies under the Affordable Care Act, which angered progressives who have been in a sharp confrontation with Trump. It is worth noting that the centrist Democrats who ended the shutdown agreed to a Republican promise that the Senate would vote by mid-December on extending Obamacare premium subsidies. However, there are no guarantees that enough Republicans will support the extension of these subsidies, and it should be remembered that Obamacare was one of the sticking points that contributed to the prolonged shutdown.
Resuming air travel could take several days, and for the 42 million low-income Americans participating in the Supplemental Nutrition Assistance Program (SNAP), receiving delayed benefits will likely take even longer. With the resumption of federal operations, lengthy delays and unmet obligations are likely.
The underlying issue in the Democrats' struggle to reinstate tax benefits for Obamacare remains a widely discussed topic, as 24 million Americans could face rising insurance premiums, potentially meaning hundreds of dollars more in monthly medical insurance costs.
California's Democratic Governor Gavin Newsom called the deal "pathetic," while Illinois Governor J.B. Pritzker criticized the Senate vote on the Democrats' demands, labeling it a "hollow promise." Senator Elizabeth Warren, a Democrat from Massachusetts, expressed her belief that this was a terrible mistake. She emphasized that the American people expect lawmakers to advocate for healthcare rights and stated that this is precisely what they should be doing. House Democratic Leader Hakeem Jeffries also criticized the government's reopening plan, stating that Democrats in his chamber would not support it.
The new bill also includes funding for the Departments of Agriculture and Veterans Affairs, as well as the Food and Drug Administration, military construction projects, and Congress itself until September 30. The compensation will also be paid to all federal employees who were denied their salaries during the shutdown, and any layoffs of federal employees will be prohibited until January 30.
This deal demonstrates how challenging it is for Democrats to use the limited influence they have in a Republican-controlled Washington to counter Trump's plans.
The currency markets reflected little reaction to these developments.
In terms of the current technical picture for EUR/USD, buyers now need to focus on reclaiming the 1.1570 level. Only by doing so can they aim for a test at 1.1590. From that point, it is also possible to rise to 1.1610, but achieving this without support from major players will be quite challenging. The furthest target is around 1.1636. In the event of a decline, serious buying interest is expected around the 1.1545 level. If there are no buyers present at that zone, it might be wise to wait for a new low of 1.1520 or to open long positions from 1.1490.
As for the current technical outlook for GBP/USD, pound buyers need to break through the nearest resistance at 1.3180. This would allow them to aim for 1.3215, above which further upward movement will be quite challenging. The furthest target is the 1.3245 area. If the pair declines, bears will likely attempt to take control at the 1.3140 level. If they succeed, breaking below this range would deliver a significant blow to the bulls' positions, pushing GBP/USD down to the 1.3095 minimum, with the potential to reach 1.3056.
The material has been provided by InstaForex Company - www.instaforex.com