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Clock Ticks Away for Pre-Election Stimulus

The US dollar index continued its slide from the beginning of the week, as it closed 0.35% lower yesterday.

Fiscal stimulus negotiations continue to largely drive the direction of the US dollar.

This comes as House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin made some progress during their latest coronavirus stimulus talks.

They plan to speak again today about a relief bill, ahead of a two-day deadline that Pelosi set to reach an agreement.

Any breakdown in stimulus negotiations would likely send the US dollar higher into the November 2020 election.

Pandemic Counteraction Brings Deficit into the Red

The euro pounced on the greenback’s weakness on Monday as it closed 0.43% higher.

This comes despite recent reports that the eurozone’s budget deficit is expected to rise nearly tenfold.

A draft budget plan published by member states on the European Commission’s website indicates the 19-country bloc will slide to an aggregate f...

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