In this week’s Trading Global Macro Podcast from StoneX, John Kicklighter and Matt Weller unpack the looming U.S. government shutdown and its potential implications for global markets.

They explore:

- Lessons from past shutdowns and their economic fallout

- How political gridlock affects investor confidence in US assets

- The resilience, and vulnerabilities, of the US dollar and Treasury market

- Whether alternatives like the euro, gold, or Bitcoin could challenge the dollar’s dominance

- Why the shift away from US exceptionalism may look less like a “light switch” and more like a “dimmer switch”

While short-term impacts may be limited, the conversation highlights growing long-term concerns around fiscal deficits, credit ratings, and the dollar’s future as the world’s reserve currency.

Be sure to like and subscribe for weekly insights into the forces shaping FX, equities, commodities, interest rates, and beyond!