US Treasury Sec. Mnuchin and House Speaker Pelosi discuss stimulus and covid

Dhwani Mehta FXStreet

Amid the latest reports that a $908 billion bipartisan coronavirus relief package set to be introduced in the US Congress as early as Monday will be split into two packages, US Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi has a 30-minutes call on Sunday, Pelosi spokesman Drew Hammill tweeted out.

The Speaker and Secretary Mnuchin spoke by phone at 4:30 p.m. to discuss the latest developments on the omnibus and COVID talks. They spoke for approximately 30 minutes. (1/6)
— Drew Hammill (@Drew_Hammill) December 13, 2020

In a piece of welcome news, House No. 2 Democrat Steny Hoyer hinted that his party could be willing to accept an aid package without the state and local aid that Democrats have been insisting should be part of it.

Market reaction

The risk sentiment remains buoyed by the renewed hopes for a fiscal stimulus, triggering a gap down opening in the US dollar across its main peers.

The DXY now trades at 90.82, losing 0.18% on the day while the S&P 500 futures rise 0.51% to near 3,670.

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Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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