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.
Tag - technical analysis
XAU/USD is edging higher, but may meet soon the strong resistance. What is the forecast?
The euro has started the week on a positive footing, surging to the key resistance of 1.1800.
UK officials are reportedly preparing to dilute PM Johnson’s Brexit legislation, in a move that could rekindle negotiations with the EU.
The market is resilient ahead of the speeches of Fed’s Powell and ECB President Lagarde, but there are still interesting movements.
The formation of the descending triangle pattern indicates further falling of USD/JPY!
The uncertainty over US fiscal stimulus and Brexit, and also rising new virus cases deteriorated the market mood. That’s why we can expect the further rally of the US dollar and the fall of riskier assets today.
The number of Americans applying for initial unemployment benefits unexpectedly increased to 898,000 last week, its highest since late August, compounding fears that the recovery in the labor market is stalling
USD/CNH has been steadily dipping, but downbeat China’s PPI and CPI limit the further falling.
Treasury Secretary Mnuchin, after speaking with House Speaker Pelosi, said stimulus talks are still far apart and it is difficult to get anything done before the election but will keep trying.
US stocks are seen opening mixed Tuesday, with the tech sector outperforming ahead of important news from Apple and Amazon, while investors also wait for earnings from the key banking sector.
European stock markets are seen opening mixed Tuesday, with investors having to sift through the conflicting impulses of strong Chinese export data and a setback in the progress towards a Covid-19 vaccine.