USD falls as House delay vote on $2.2 trillion stimulus bill
The much-anticipated coronavirus stimulus bill has been delayed further as House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin failed to reach a deal. Talks are set to continue to try and find an agreement for a fifth economic relief package that can pass both chambers of Congress.
House Democrats have tabled a $2.2 trillion stimulus package while Mnuchin has countered with a $1.5 trillion stimulus package. Officials hope a deal can be reached to boost the US economy before the 3 November US presidential election.
The US dollar subsequently fell on the announcement with the fall continuing in Asia and early European trading. All major G7 currencies were up against the US dollar, including gold. All eyes may now turn to today's ISM Non-Manufacturing PMI figures at 3 pm BST, as well as Friday's key US Non-Farm payroll announcement at 1.30 pm BST which could determine the trend of the dollar for October.
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How to trade EURUSD with Admiral Markets UK Ltd
If you are feeling bullish or bearish on the price of the EURUSD, you can speculate on its price direction using CFDs. To get started, follow these five simple steps:
- Log in to your existing Admiral Markets trading account, or open a live or demo trading account in just a few minutes.
- Click Trade on your chosen account which will direct you to the Admiral Markets MetaTrader Web Platform.
- Type in EURUSD, or another instrument, at the bottom of the Market Watch search box and then drag the symbol onto the chart.
- Use the one-click trading feature on the chart or right-click on select Trading -> New Order.
- Choose your entry, stop loss and target levels and position size (volume) and then confirm the trade.
Source: Admiral Markets MetaTrader 5 Web, EURUSD, Weekly - Data range: April 20, 2014, to October 1, 2020, performed on October 1, 2020, at 7:09 am BST. Please note: Past performance is not a reliable indicator of future results.
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