US Stimulus Talks Are Expected in the Day Ahead

US Stimulus Talks Are Expected in the Day Ahead

2020-10-08 • Updated

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Ichimoku Kinko Hyo

CAD/JPY: The pair is trading in a bullish sentiment above the cloud. The currency pair has just surpassed the Kijun-sen and the Tenkan-sen, confirming a bullish momentum.

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Fibonacci Levels

 XAU/USD: Gold after a remarkable correction stands above 38.2% retracement area. The new stimulus by US will help gold to move higher.

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US Market View

US stock markets are indicated to open higher, still supported by hopes of support for the US economy after the administration’s abrupt pivot on Wednesday. President Donald Trump signaled a willingness to negotiate piecemeal bills to support the economy, having broken off talks with House Democrats about a comprehensive stimulus package a day earlier. The number of people with a direct interest in a stimulus check is likely to remain elevated when this week’s jobless claims numbers are published at 8:30 AM ET (12:30 GMT).

US Key Point

  • Stocks and bonds grind higher awaiting the next chapter of the stimulus saga
  • SNB's Jordan says the supply of money can be reduced at any time if demand for Swiss franc weakens

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