Optimism Still Exists for More Stimulus
Differences continue to narrow in US stimulus talks but more work needs to be done. Pelosi and Mnuchin will speak again today, according to her aide.
FED Disappointed Markets
Information is not investment advice
Midday Market View
Europe’s auto stocks were on the skids again on Thursday after fresh data showed that the recovery in sales had gone into reverse in August. U.S. stocks are set to open sharply lower Thursday, with investors disappointed that the Federal Reserve decided against adding more stimulus to advance its goal of spurring inflation. Congress continues to struggle to reach a deal on a new coronavirus aid bill although President Donald Trump has injected some life into talks and thus some investors had hoped the Fed would carry out more of the heavy lifting by injecting more monetary stimulus. Oil prices fell Thursday, rebalancing after recent strong gains as producers in the Gulf of Mexico took steps to resume output in the wake of Hurricane Sally.
Midday Key Point
- Eurozone August Final CPI comes at -0.2% vs -0.2% y/y than expected
- EUR/GBP finds support ahead of BoE
- EUR/USD finding support at daily trendline
Michael Eliades
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Optimism Still Exists for More Stimulus
Differences continue to narrow in US stimulus talks but more work needs to be done. Pelosi and Mnuchin will speak again today, according to her aide.
GBP vs EUR and USD: strategic look
The GBP made strong moves against the US dollar and the EUR lately. What's the tactical outlook?
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