empty
InstaForex Loprais Team - Official participant of the Dakar rally
InstaForex Loprais Team - Official participant of the Dakar rally
This section is designed for those who are just starting their trading journey. InstaForex educational and analytical materials will meet your training needs. Our experts' recommendations will make your first steps to trading success simple and clear.
Start as Beginner
How to start trading
Useful information
Training and recordings
InstaForex innovative services are an essential element of productive investment. We strive to provide our clients with advanced technical capabilities and make their trading routine comfortable as we are recognized as the best broker in this regard.
Become Investor
PAMM System
ForexCopy System
Passive investments
Partnership with InstaForex is beneficial and top-tier. Join our affiliate programs and enjoy bonuses, partner rewards, and the possibility to travel with the team of the world-renowned brand.
Become Partner
Main Page
Partner Area
Advantages for Affiliates
Registration
This section contains the most lucrative offers from InstaForex. Receive bonuses when topping up an account, compete with other traders, and get real prizes even when trading in a demo account.
All Promo Campaigns
Bonuses
Contests
Events
Holidays with InstaForex are not only pleasant but also useful. We offer a one-stop portal, numerous forums, and corporate blogs, where traders can exchange experiences and become successfully integrated into the Forex community.
Full details
Forums
We are in social networks
Forex humour
Forex Portal
InstaForex is an international brand created in 2007. The company provides services for online FX trading and is recognized as one of the world's leading brokers. We have won the trust of more than 7,000,000 retail traders, who have already appreciated our reliability and focus on innovations.
Learn More
History
Why Choose Us
InstaSport
Regulation
Company News
Awards
InstaForex Stars
InstaForex Offline
Headquarters
Key documents
Social Responsibility
08.05.2023 06:59 PM
Fight over the debt ceiling begins
Open trading account Open demo account

This image is no longer relevant

Joe Biden and Kevin McCarthy have approached a decisive moment in their fight over the debt ceiling. The President is set to receive the House Speaker and other Congressional leaders at the White House on Tuesday, and during which McCarthy is likely to seek spending cuts as a condition for suspending or raising the debt limit. Biden, meanwhile, will most certainly insist on separating the issues and calls for an increase in the debt limit.

The stakes are higher than just politics as a default would trigger a market sell-off, as well as could cost millions of jobs. In fact, Treasury bill markets already showed new concerns about the possibility of the US defaulting on its debt in early June. However, expectations for the meeting are low.

Biden said he plans to keep his promise not to negotiate over the debt ceiling, arguing that it would create a dangerous precedent that allows Republicans to hold the country's economy hostage compared to their preferred political outcomes.

The dollar index once again approached the psychological level of 100:

This image is no longer relevant

McCarthy asserts that there is no alternative, and his position strengthened over the weekend, when 43 Senate Republicans, including minority leader Mitch McConnell, signed a letter stating that they would not support a clean debt ceiling increase. That is enough to prevent Democrats from overcoming a filibuster if they propose one without any conditions attached.

The situation on Pennsylvania Avenue has also prompted a new consideration of executive actions, such as Biden's reference to the 14th Amendment, which states that the validity of the country's public debt should not be questioned. But when asked in an interview last Friday, the President said he "hasn't gotten there yet."

This image is no longer relevant

US Treasury Secretary Janet Yellen warned that such a maneuver could trigger a "constitutional crisis" and do little to prevent unnecessary economic damage. Economic experts also said that it could not only lead to the court overturning the initiative and plunging the country into an immediate financial crisis, but also scare off investors and raise borrowing costs for the government.

"We will have an economic and financial disaster of our own making if we don't take any actions that President Biden and the US Treasury Department can take to prevent this," Yellen said.

Andrey Shevchenko,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
All Analytics
Wave analysis
EUR/USD Analysis – March 31st The wave structure on the 4-hour EUR/USD chart is at risk of transforming into a more complex formation. On September 25 of last year, a new downward structure began forming
Chin Zhao
20:10 2025-03-31 +02:00
1510
Wave analysis
GBP/USD Analysis – March 31: The Pound Takes a Break The wave structure for GBP/USD remains somewhat ambiguous, though overall acceptable. Currently, there is still a high probability of a long-term downward trend formation. Wave 5 has taken a convincing
Chin Zhao
20:08 2025-03-31 +02:00
1435
Breaking Forecast Trading Plan Cryptocurrencies USD/RUB Russian Economy Video Analysis
Trading Instruments
EURUSD GBPUSD USDCHF USDCAD USDJPY AUDUSD EURGBP EURJPY NZDUSD EURNZD Silver Gold #CL #USDX COVID-19 Bitcoin
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

April to play crucial role in Europe's gas future

Europe's gas sector is entering a critical phase, as the end of the heating season sets the stage for refilling storage facilities, which are now two-thirds empty after the winter
Miroslaw Bawulski 13:01 2025-03-31 UTC+2

WTI – West Texas Intermediate. Prices Lack Support for Growth

West Texas Intermediate (WTI) crude oil prices are attempting to attract buyers, but the market remains in a state of uncertainty. Concerns over President Trump's aggressive trade tariffs are putting
Irina Yanina 12:39 2025-03-31 UTC+2

EUR/USD. Analysis and Forecast

At the start of the new week during the Asian session, the EUR/USD pair attempted to attract buyers, but this was unsuccessful. The euro received support from easing concerns about
Irina Yanina 12:35 2025-03-31 UTC+2

US stock market runs into trouble

Rumors about mutual tariffs and another blow to consumer confidence triggered the second-worst sell-off of the S&P 500 this year. Investors are still holding piles of US stocks
Marek Petkovich 10:58 2025-03-31 UTC+2

EUR/USD. Hello, April: Eurozone Inflation Report, ISM Indices, and Nonfarm Payrolls

The first week of every month is the most informative for EUR/USD traders. The economic calendar traditionally includes a report on inflation growth in the eurozone, American ISM indices
Irina Manzenko 06:28 2025-03-31 UTC+2

GBP/USD Pair Overview – March 31: Nonfarm Payrolls, Trump, and Unemployment May Create New Problems for the Dollar

The GBP/USD currency pair continued to trade sideways near its highs on Friday. This sideways movement has persisted for several weeks, and the British pound has not managed even
Paolo Greco 06:24 2025-03-31 UTC+2

EUR/USD Pair Overview – March 31: A New Week of Trials for the Dollar

The EUR/USD currency pair rose again on Friday. As we can see, the correction against the upward trend of recent weeks ended very quickly. But that's no surprise, given that
Paolo Greco 06:24 2025-03-31 UTC+2

What to Pay Attention to on March 31? A Breakdown of Fundamental Events for Beginners

There are very few macroeconomic events scheduled for Monday. The only somewhat interesting reports will come from Germany. Retail sales and inflation data for March will be released. However, we'd
Paolo Greco 03:21 2025-03-31 UTC+2

AUD/USD: Analysis and Forecast

The AUD/USD pair continues its sideways consolidation, remaining within a familiar range near the key psychological level of 0.6300. This movement is driven by several factors impacting global market sentiment
Irina Yanina 11:16 2025-03-28 UTC+2

EUR/USD. Analysis and Forecast

Today, the EUR/USD pair is consolidating near the key psychological level of 1.0800, showing no intention of retreating below 1.0780 as traders and investors await the release of the U.S
Irina Yanina 10:45 2025-03-28 UTC+2

Top analytics

Relevance up to 08:00 UTC--4
GBP/USD Analysis – March 31: The Pound Takes a Break
20:08 2025-03-31
Wave analysis
Relevance up to 12:00 UTC--4
EUR/USD Analysis – March 31st
20:10 2025-03-31
Wave analysis
Relevance up to 08:00 UTC--4
GBPUSD: Simple Trading Tips for Beginner Traders on March 31st (U.S. Session)
19:58 2025-03-31
Forecast
Relevance up to 08:00 UTC--4
USD/JPY: Simple Trading Tips for Beginner Traders on March 31st (U.S. Session)
20:01 2025-03-31
Forecast
Relevance up to 08:00 UTC--4
EURUSD: Simple Trading Tips for Beginner Traders on March 31st (U.S. Session)
19:55 2025-03-31
Forecast
Can't speak right now?
Ask your question in the chat.
Widget callback
Callback widget
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.