Tuesday, October 20, 2020

If This Continues, It Will Suffer The Main Currency!

 The greenback dollar traded stable after recording a decline against most major currencies in the previous trading session amid uncertainty over the US stimulus package.

Over the weekend, House Speaker Nancy Pelosi gave the White House 48 hours. According to him, if they want to resolve something before the election, it must be done on Tuesday.

Although President Donald Trump also pressured to reach an agreement, sales in the stock market indicate that investors are not confident that there will be strong support in Congress to support the new stimulus.

Another opportunity to get Congress approval is with a lower aid package, but it is unlikely to be accepted by Democrats.

If nothing happens after the given period of Pelosi, risk-off sentiment may dominate the market and lead to significant global stock sales.

The start of trading today showed the euro holding around $ 1.17752 against the US dollar, having gained 0.44% in the previous session.

While the pound sterling has fallen again after earning a small profit made during the previous session after the UK said that the door is still open if the European Union (EU) wants to compromise, but if not, then no agreement will be made.

EU and British key negotiators Michel Barnier and David Frost continued talks over phone calls on Monday even after UK Prime Minister Boris Johnson said there was no point in continuing talks.