Asian shares dropped down on Thursday soon after the US President, Donald Trump and congress leaders suddenly agreed to increase the debt limit till December, ruling out the term-risk of shutting down the government.

The euro worked towards maintaining the slim gains much ahead of the European Central Bank’s policy meeting held during the day. This incident occurred when oil prices were agreed upon as US Gulf Coast refineries started moving due to Hurricane Harvey.

Apart from Japan, MSCI’s broadest index of the shares rose up to 0.5 percent while Japan’s Nikkei went as high as 0.4 percent.

On Wednesday, in New York, the S&P 500 rose by 7.69 points followed by a rise in the energy sector after the rise in oil prices.

Trump forged the deal with Democrats in Congress with an objective of raising the US debt limit and offering funds till Dec. 15, by accepting the political adversaries and hurling against fellow Republicans in a bipartisan accord.

According to Masahiro Ichikawa, the senior strategist at Sumitomo Mitsui Asset Management, the deadline on the debt ceiling has been stretched by a period of three months so it will return back to dominate the market later in 2017. Even then, the market is happy as the asset management company doesn’t have to worry much.

Moving forward, the news also helped to increase the US Treasuries yields, with the 10-year yield going up to 2.101 percent. The rise was observed from 2.054 percent that prevailed for 10 months and has been there since Wednesday.

As for the US economic data, everything was on the positive side with the thought that the Institute for Supply Management would be very much involved with the services sector activity. Even then, geopolitical tensions experienced in North Korea’s nuclear and missile programme affected Japan and South Korea. The rally in shares wasn’t in full swing because Trump’s deal was meant to raise the ceiling for just three months.

With the present situation, Chief Strategist at Mizuho Securities, said that it would had been better if the period was extended. While there is a likelihood that the government many shutdown, it’s difficult to say that everything is back to normal.

Due to the recovery, the dollar dropped down to 109.11 yen JPY= from 108.45 yen as recorded on Wednesday.

The prime focus is on EUR= which is steady at $1.1925 ahead of the ECB’s policy meeting. Since the start of 2017, the uptrend has always been consistent.

ECB President Mario Draghi is preparing to bring back the asset purchase programme back to where it was before. This was decided even when few investors looked forward to perceive a clear framework. On the other hand, some participants are bothered about Draghi which may warn against euro risen 13 percent so far, the strongest performer among other currencies.

The Canadian dollar saw a steep rise since June 2015. While it was at C$1.2140 per dollar on Wednesday, it now had attained C$1.2230 to the dollar.

Oil prices were stable with respect to the week’s gain as the US Gulf Coast refineries were reopened to improve the perception after the fall.

U.S. crude futures CLc1 were at the price of $49.07 per barrel, as less as 0.2 percent from the recent levels. This happened after the gain of 3.0 percent in the past three sessions.

Brent LCOc1 was at $54.11 a barrel, down 0.2 percent but closer to 3 1/2-month high of $54.31 as seen on Wednesday.

Traders are now concentrating to Hurricane Irma, which is one of the Atlantic hurricanes happened in the last 80 years. Earlier, the storm was around the northernmost Virgin Islands on Wednesday afternoon. But, it expected to engulf Florida as the week ends.