EUR is falling under pressure from the US dollar. Overview for 18.05.2023

The market's most traded currency pair is dropping lower and lower. The current EURUSD quote is 1.0830.

We should be prepared for the fact that in the coming days all discussions, one way or another, will revolve around the subject of US government debt. This is currently the most important topic the capital market is following.

Negotiation talks between Republicans and Democrats are ongoing. Politicians are ready to unite because there is no alternative. The active phase of discussions on compromises on both sides will begin today.

The Republicans are against raising the national debt ceiling unless the Democrats agree to cut federal spending. The national debt limit currently stands at 31.3 trillion USD.

The X-Day is 1 June. Thereafter, the federal government will have no money left to service its spending.