- EUR/USD continues to rally for the third day.
- US Senate leader Mitch McConnell suggests amendments to the bill for 2000 dollars relief-check.
- US economic releases to entertain traders
EUR/USD trades 0.32 Percent higher at 1.2288 ahead of the European opening. The major has recently touched a high of 1.2294 as the USD weakness persisted.
The pair now at multi-month highs scaled new peaks after US Treasury Secretary Mnuchin said the 600 dollars stimulus direct payment would be released from Tuesday night in the US. The dollar index felt the pressure of the immediate payment announcement as it enthused risk bulls.
Senate Majority Republican leader Mitch McConnell blocked the proposal to increase the relief payment to 2,000 dollars and added clauses about social media companies’ protections and election fraud studies in his counter-proposal.
Meanwhile, the US recorded its first case of the new coronavirus variant, prompting the US Assistant Secretary for Health Brett Giroir to comment that the travellers from more countries need to be tested.
In the UK, PM extended Tier 4 restrictions; Japan also considers increasing travel restrictions to check the virus spread.
S&P 500 Futures traded slightly in the green today while Asian markets traded mixed. The dollar index is at 89.73, near its lowest level since April 2018.
In the US economic docket today, December’s Chicago Purchasing Managers’ Index is expected at 57 from 58.2 earlier while November’s Pending Home Sales MoM might come without change compared to a 1.1 Percent fall previous. However, EUR/USD traders will continue to eye stimulus progress and pandemic updates for further action in the pair.
At the time of writing, one Euro buys 1.2283 US dollars, up 0.29% as of 10:41 AM UTC.