🇺🇸 USD – BEARISH
1️⃣ Optimism over further stimulus in the US lifted investors’ appetite for riskier assets and currencies.
🇬🇧 GBP – BULLISH
1️⃣ EU chief Brexit negotiator Michel Barnier told the European Parliament that a trade deal with London was within reach if both sides are willing to work constructively, and are ready over the next few days to resolve the sticking points.
2️⃣ Hopes that US lawmakers will reach an agreement on additional fiscal stimulus remained supportive of the upbeat market mood.
🇪🇺 EUR – BEARISH
1️⃣ ECB is toying with the idea of more rate cuts, and a larger QE program.
2️⃣ ECB’s President Lagarde is likely to sound dovish during her speech.
🇳🇿 NZD – BULLISH
1️⃣ Appetite for the safe haven US Dollar weakened on hopes that US lawmakers can pass a much-sought-after fiscal stimulus package.
🇨🇦 CAD – BULLISH
1️⃣ Investors turned to riskier currencies on hopes of a further fiscal stimulus in the US.
2️⃣ Upbeat performance of oil prices, Canada’s biggest export item.
3️⃣ Today CPI data expected to print positive. Sharp improvement in labor market conditions and rise in price component of IVEY.
🇦🇺 AUD – BULLISH
1️⃣ Risk appetite increased on investors’ hopes for further US fiscal stimulus while AstraZeneca’s COVID-19 vaccine trial is expected to resume as early as this week after the US Food and Drug Administration completed its review of a serious illness in a study participant.
🇯🇵 JPY – BULLISH
1️⃣ Investors moved away from the US Dollar following rekindled fiscal stimulus optimism after Democratic House Speaker Nancy Pelosi conveyed an upbeat tone on the possibility that a coronavirus aid package can be reached before the November election.
🇨🇭 CHF – BULLISH
1️⃣ Uncertainty over the US fiscal stimulus measures undermined the USD and exerted pressure.