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Stimulus Relief Looks a Long Way Away

The US index witnessed another negative session as it closed 0.43% lower yesterday.

This capped a significant fall as it was unable to remain above the 93 handle. As the 2-day stimulus deadline imposed by house speak Pelosi expired yesterday, with further talks with Mnuchin keeping the dollar under pressure.

The two sides look unlikely to strike an agreement until after the election since more work needs to be done.

This dovish tone was supported by FOMC member Brainard, who stressed that further fiscal stimulus is needed, adding that the US recovery is seen as highly uncertain and uneven.

Eurozone Faces Bleak Winter

The euro edged 0.33% higher on Wednesday as it closes in on the 1.19 level.

This caps the fourth consecutive positive session for the euro as a weak greenback added to sentiment.

The eurozone still struggles with rising Covid-19 cases, with Germany recording its biggest-ever daily infection rate.

This is forcing more governments to im...

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