Stocks advanced in the Asian session as investors brushed off the end of \u00a0US fiscal stimulus talks.
\nHowever, with macro data weakening, the lack of additional stimulus could drag on risk appetite.
\nUS Dollar Index (DXY) could advance as it remains above a key support<\/p>\n
Equity indices rose in the Asian session. The Australian ASX 200 jumped 1.25% after the \u00a0local government\u2019s Federal Budget announcement.<\/p>\n
Investors shrugged off the plug being pulled on US stimulus talks in congress. The safe haven US Dollar and Japanese Yen moved lower. Gold pushed over $1,880\/oz and silver surged over 2% even though \u00a0US 10-year Treasury yields rose by 2 basis points.<\/p>\n
The minutes from the Fed\u2019s latest monetary policy meeting will be in focus in addition to \u00a0speeches from several members of the Federal Reserve.<\/p>\n
US Dollar Rebound to Pick Up Pace As Powell\u2019s Pleas Fall On Deaf Ears<\/p>\n
Safe haven inflows could boost the US Dollar further over the coming sessions as \u00a0Federal Reserve Chairman Jerome Powell\u2019s warnings over no fiscal stimulus fell on deaf ears with Trump.<\/p>\n
Mr Trump has postponed Congressional stimulus negotiations until after the US Presidential Elections on November 3, although he said he was keen to pass a deal after.
\nThis abrupt pause in stimulus talks could concern Fed Chair Powell who said that the recovery is far from over.<\/p>\n
The question now is will the Fed look to compensate for the lack of support from Congress?<\/p>\n
Additional monetary stimulus seems \u00a0unlikely ahead of the US elections next month, given the central bank\u2019s balance sheet is steady at $7 trillion since peaking at $7.17 trillion on June 10.<\/p>\n
Indeed \u2013the \u201cnumber one jobs website in the world\u201d \u2013 showed job postings were16.4% lower in October compared to the year earlier with permanent job losses continuing to rise. \u00a0The US economy\u2019s the need for additional stimulus is likely to grow in the short term and could lift the safe haven US Dollar.<\/p>\n","protected":false},"excerpt":{"rendered":"
Stocks advanced in the Asian session as investors brushed off the end of \u00a0US fiscal stimulus talks. However, with macro data weakening, the lack of additional stimulus could drag on risk appetite. US Dollar Index (DXY) could advance as it remains above a key support Equity indices rose in the Asian session. The Australian ASX […]<\/p>\n","protected":false},"author":163946597,"featured_media":4365,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1381],"tags":[3135,1398],"class_list":{"0":"post-105671","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-usd","8":"tag-dxy","9":"tag-usd"},"acf":[],"yoast_head":"\n