The dollar index is down 0.19% at a 1-week low due to the US government shutdown and weak labor market news. The Sep ADP employment change fell by 32,000, the largest drop in 2.5 years, increasing the likelihood of a Fed rate cut at the October FOMC meeting to 100%. The Sep ISM manufacturing index rose to a 7-month high of 49.1.

EUR/USD is up 0.09% at a 1-week high, supported by dollar weakness and positive Eurozone economic data. The Eurozone Sep S&P manufacturing PMI was revised upward to 49.8. Eurozone Sep CPI rose to 2.2% y/y, meeting expectations.

USD/JPY is down 0.61% as the yen rallies to a 2-week high against the dollar due to the US government shutdown and positive Japanese economic news. Japan Q3 Tankan large manufacturing sentiment index rose to 14. Japan Sep S&P manufacturing PMI was revised upward to 48.5.

Gold and silver prices are up, with gold posting a new contract high and silver reaching a 14-year high. Precious metals rally as the dollar falls, US government shutdown boosts safe-haven demand, and the chances of a Fed rate cut rise to 100%.

Precious metals receive safe-haven support from US tariffs, geopolitical risks, and Trump’s attacks on Fed independence. Gold and silver ETF holdings are at nearly 3-year highs, driven by uncertainty and fund buying.

Read more at Yahoo Finance: Dollar Falls on US Government Shutdown and Weak Labor Market News