
US President-elect Joe Biden proposed a $1.9 trillion stimulus plan to jump-start the world's largest economy and accelerate its response to COVID-19
2020-11-23 • Updated
USD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
XAG/USD: Silver continues to stay below the key resistance area of 23.6%, it seems that bears still have control.
U.S. stock markets are set to open higher amid the prospect of an end in sight to uncertainty over the election and the incremental good news on the vaccine front. A federal judge in Pennsylvania threw out a lawsuit filed by President Donald Trump’s lawyers that aimed to overturn the result of the election, removing the last major obstacle to Joe Biden being declared the official victor. The dollar fell and risk assets rose around the globe on more positive news about the development of vaccines to treat Covid-19. Europe’s economy contracted in November for the first time in five months under the pressure of lockdown restrictions. n more positive news, France announced it would reopen non-essential stores ahead of Christmas in response to a sharp drop in new infections of Covid-19, while the U.K. is likewise expected to announce later Monday that some lockdown measures will be relaxed as of December 1. Crude oil prices hit their highest level since August overnight, after reports of a military strike by Yemeni Houthi rebels against a Saudi Arabian oil storage and distribution center.
US President-elect Joe Biden proposed a $1.9 trillion stimulus plan to jump-start the world's largest economy and accelerate its response to COVID-19
President-elect Biden will present details of his plans to support the economy through the pandemic, while Federal Reserve chairman Jerome Powell may offer some reaction in a speech later.
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