US Shutdown Rocks Markets; Eurozone Services Surge, But Euro Falls Against Franc
Markets and politics saw significant developments this week. The US government shutdown led to a budget dispute between the Republican and Democratic parties, while the Euro and Dollar currency pairs remained relatively stable. Meanwhile, the Euro fell against the Swiss Franc.
The Euro/Swiss Franc currency pair closed virtually unchanged at 0.9344. In the USA, the shutdown caused by the budget dispute between the Republican and Democratic parties led to the non-publication of monthly employment data. The sentiment of purchasing managers in the US services sector also deteriorated, with the ISM index dropping to 50.0 points.
Across the Atlantic, the Euro/Dollar currency pair last traded at 1.1742. The Eurozone services sector showed resilience, with the purchasing managers' index rising to its highest level in eight months. However, the Euro fell against the Swiss Franc to 0.7958 Swiss Francs.
The US budget dispute and government shutdown had notable impacts on economic indicators, while currency pairs remained relatively stable. The Eurozone services sector demonstrated strength, but the Euro weakened against the Swiss Franc.
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