Markets are edging lower and the safe-haven dollar is somewhat bid as US fiscal stimulus talks are stuck as the clock ticks down toward the elections. Brexit and rising coronavirus cases are high on the EU Summit agenda, ahead of US jobless claims and other figures.
US fiscal stimulus talks are going nowhere fast, less than three weeks ahead of the elections. Democrats are in pole position in opinion polls ahead of the November 3 vote and seem reluctant to give President Donald Trump a political victory.
GBP/USD advanced above 1.30 after the UK refrained from abandoning talks. However, EU leaders are set to hear that no progress was made in recent talks about future relations between Brussels and London.
EUR/USD lacked any firm directional bias and seesawed between tepid gains/minor losses on Thursday.
Eurozone coronavirus cases are on the rise, prompting additional restrictions across the old continent.
USD/JPY trades close to an intraday high near 105.30, with the greenback’s relative safe-haven status overpowering yen.
Gold has been struggling below $1,900 following the lack of progress in stimulus talks while WTI oil is stable at around $41.
There is an absence of relevant market-moving economic releases in the session ahead. Later, the US economic docket highlights the release of regional manufacturing indices, which, along with the usual initial weekly jobless claims will influence the USD price dynamics and produce some trading opportunities. ECB’s President Lagarde speech at 16:00 GMT will be also watched.
US Dollar Up on U.S. Stimulus Impasse and Rising COVID-19 Cases
Published on 2020-10-15 07:42
US Dollar Edging Lower on Covid-19 Concerns – US data eyed
Covid Concerns and Fading stimulus hopes boost the US Dollar
US Dollar Up After Trump-Biden Debate – PMIs eyed
Foreign intervention in US elections weighs on mood – US Jobless Claims eyed