The US dollar declines 0.27 percent after a partial government shutdown that exacerbated the risk-off mood. Top White House officials failed to strike a deal to give President Trump his $5bn worth of wall funding. More than 400,000 employees are set to work without pay while more than 350,000 were forced to take unpaid leave. The Trump administration warned that the partial government shutdown could stretch into January on Sunday.
President Donald Trump considered firing Fed Chairman Jerome Powell as he became more dissatisfied with the central bank decision to hike rates. Additionally, the government appeared to be in damage control mode when Treasury Secretary Steven Mnuchin quoted Trump as saying, “I never suggested firing Chairman Jay Powell, nor do I believe I have the right to do so.”
US equity futures recovered slightly throughout the overnight trading session after Treasury Secretary Steven Mnuchin is set to meet top bank executives to discuss liquidity.