US Treasury Secretary Steven Mnuchin has said that senators from both parties are making progress on stimulus talks and more meetings are scheduled for later on Thursday. House Speaker Nancy Pelosi is set to speak later on.
The S&P 500 Index has returned to positive territory after trading lower earlier in the day.
-637432102155136784.png)
Mnuchin has been one of the driving forces behind trying to achieve an accord. Last week, a group of Republicans and Democrats presented a relief package worth around $908 billion, yet it has yet to receive the blessing of senior leaders in the upper chamber.
Investors await another dose of support from the federal government once President-elect Joe Biden enters the White House.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD consolidates gains below 1.0500 amid weaker US Dollar
EUR/USD holds gains below 1.0500 in European trading on Monday, having recovered from its two-year low of 1.0332. This rebound is due to a sell-off in the US Dollar and the US Treasury bond yields amid a US bond market rally. The focus shifts to German data and ECB-speak.
GBP/USD flirts with 2600 on the road to recovery
GBP/USD is trading close to 1.2600 early Monday, opening with a bullish gap at the start of a new week. A broad US Dollar decline alongside the US Treasury bond yields on appointment of a fiscal hawk Scott Bessent as the Treasury Chief helped the pair stage a solid comeback.
Gold price sticks to heavy intraday losses amid risk-on mood, holds above $2,650 level
Gold price witnessed an intraday turnaround after touching a nearly three-week high, around the $2,721-2,722 area and snapped a five-day winning streak at the start of a new week. Bets for slower Fed rate cuts also drive flows away from the non-yielding yellow metal.
Bitcoin consolidates after a new all-time high of $99,500
Bitcoin remains strong above $97,700 after reaching a record high of $99,588. At the same time, Ethereum edges closer to breaking its weekly resistance, signaling potential gains. Ripple holds steady at a critical support level, hinting at continued upward momentum.
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.