EURUSD: Shutdown stalls market momentumEuro/US DollarFX:EURUSDXBTFXProbably the most important news for the US during the previous week was the US federal government shut down on October 1st, due to Congress failing to pass funding legislation. The shutdown left over 800.000 workers without pay and many agencies operating only in a limited capacity. Still, this time markets had only a mild reaction to the news, and continued to be focused on the macro data of the US economy. This week, jobs data were in focus. Posted JOLTs Job Openings in August of 7.227M were a bit higher from estimated 7,2M. The ISM Manufacturing PMI in September was standing at 49,1, in line with market estimates. The ISM Services PMI in September reached 50,0, which was a bit lower from forecasted 51,7. Although September NFP and Unemployment data were set for a release in the economic calendar, still these data were not posted due to US government shutdown. Retail sales in Germany dropped by -0,2% in August, which was significantly lower from estimated 0,5%. Yearly figures of 1,8% in August were also slightly lower from forecasted 2,2%. The Unemployment rate in Germany remained at 6,3% in September, unchanged from the previous month. The preliminary Inflation rate in Germany in September was standing at 0,2% for the month and 2,4% on a yearly basis. The Flash Inflation rate in the Euro Zone in September was standing at 2,2% for the year and 0,1% for the month, fully in line with market expectations. The US government shutdown put the eurusud currency pair into a sort of slow-motion mood, not because of the concern over the outcome of shutdown, but due to the postponement of a release of important jobs data. The NFP and Unemployment rate in September were not released. The currency pair was moving mostly within a range of 50 pips, from 1,17 up to 1,1750. There has not been much movement also with the RSI indicator, which was oscillating around the level of 50. The MA50 is holding with further divergence from MA200, however, a distance between two lines is showing that there will be no cross in the coming period. As per current charts, the 1,18 resistance level is pending testing, which might occur in the week ahead. Also some short term reversal toward the 1,16 support is probable. Still, it should be considered that the market is waiting to see pending jobs data, which will not occur as long as the US government is in the status of “shutdown”. In this sense, there is some probability that the week ahead might be another one with slow-motion moves with the eurusud currency pair. Important news to watch during the week ahead are: EUR: Retail Sales in August for the EuroZone, Factory orders in Germany in August, Industrial Production in August in Germany, Balance of Trade in August for Germany, USD: FOMC meeting minutes, Fed Chair Powell speech, Michigan Consumer Sentiment preliminary for October. At this moment it is unclear whether other macro data for the US will be posted during the week, considering the US government shutdown.