This article was first published on Orbex Forex Trading Blog.
This content is synced from the rightful owners. Copyright on text and images belong to the original source.
Uncertainty Looms on Jobless Claims Package
The US Index halted its free-fall at the close on Tuesday. However, with the US far from reaching an agreement on its fiscal stimulus package, further weakness can be expected.
In addition, COVID-19 cases continue to rise in several US states, dampening sentiment further.
Meanwhile, investors await the outcome of the FOMC meeting later today. Fed Chair Powell is expected to reiterate that interest rates will remain near zero.
Adding to that, more monetary support is unlikely to be delivered imminently. Will participants read that as a dovish signal?
Europe Prepares as COVID Comes Back to Bite
The euro continued to trade over 1.17 against the greenback. However, it posted its first daily loss in more than a week. This came as the Fed decided to extend its lending facilities by three months.
In addition, Europe was hit with fears of a second wave as Spain witnessed a spike in infections.
This led the UK to impose a quarantine on all traveler...
To keep reading this article, please navigate to: Orbex Forex Trading Blog.