Still no US stimulus

Blue avatar for FOREX.com guest contributors
By :  ,  Financial Analyst

Still no U.S. stimulus impacts USD

U.S. Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi failed again to agree on a fiscal stimulus deal. Later today, the U.S. Commerce Department will post Durable Goods Orders for September (+0.5% on month expected) and the Conference Board will release its Consumer Confidence Index for October (101.9 expected).

From a technical point of view, on a daily chart, EUR/USD stands below its former rising trend line and is challenging its 50-day moving average (in blue). Readers may therefore consider the potential for further weakness below 1.1900. The nearest threshold would be set at October bottom at 1.1685 and a second one would be set at September low at 1.1610.

Source: TradingView, GAIN Capital


Related tags: EUR Forex Forex

Open an account today

Experience award-winning platforms with fast and secure execution.

Web Trader platform

Our sophisticated web-based platform is packed with features.
Economic Calendar