{"id":105890,"date":"2020-10-15T21:52:39","date_gmt":"2020-10-15T20:52:39","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=105890"},"modified":"2020-10-16T06:13:51","modified_gmt":"2020-10-16T05:13:51","slug":"104559-dxy-under-pressure-as-fed-calls-for-fiscal-stimulus","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104559-dxy-under-pressure-as-fed-calls-for-fiscal-stimulus\/","title":{"rendered":"DXY Under Pressure as Fed Calls for Fiscal Stimulus"},"content":{"rendered":"<ul>\n<li><strong>The Australian Dollar tanked in the Asian session after the Governor of the RBA suggested that additional easing could be coming next month.<\/strong><\/li>\n<li><strong>Jobless claims data could drive the\u00a0 outlook for the US Dollar particularly in the absence of fiscal stimulus.<\/strong><\/li>\n<li><strong>US Dollar Index (DXY) could bounce northwards short term as price holds above a key support.<\/strong><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">The safe haven US Dollar and Japanese Yen rallied hard in the Asian session as optimism surrounding a US covid relief package prior toto presidential election on November 3 faded<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Comments from Reserve Bank of Australia Governor Phillip Lowe hinting at a 15-basis point cut and an expansion to the bond buying program\u00a0 in November sent the Aussie Dollar tanking.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Gold slipped 0.2%. Silver declined towards\u00a0 $24\/oz and US 10-year Treasury yields dipped back to 0.7%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">LUS jobless claims figures and a speech from European Central Bank President Christine Lagarde are in focus.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Jobless Claims Data To Direct USD?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Jobless claims data could drive the short-term outlook for the USD after\u00a0 Treasury Secretary Steven Mnuchin&#8217;s comments dampened optimism surrounding fiscal stimulus .<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It is increasingly unlikely that a relief package will be agreed before the elections. This could cause concern for Chairman Jerome Powell and the Federal Reserve after\u00a0 the minutes from the latest Fed meeting revealed that the central bank believes that economic growth could decelerate rapidly\u00a0 in the absence of\u00a0 additional stimulus..<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Federal Reserve Vice Chair Richard Clarida also highlighted the need for further stimulus.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It remains to be seen if the Fed will adjust its monetary policy stance on the baxk of the latest developments surrounding fiscal stimulus..<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u00a0Economic data will likely drive sentiment particularly given the Congressional deadlock continues. Jobless claims data could highlight the need for further fiscal support, boosting the safe haven US Dollar.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">An upbeat figure could calm investors nerves and lift demand for safe haven may soothe investors\u2019 concerns and steer capital flows back into risk-sensitive assets.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Australian Dollar tanked in the Asian session after the Governor of the RBA suggested that additional easing could be coming next month. Jobless claims data could drive the\u00a0 outlook for the US Dollar particularly in the absence of fiscal stimulus. US Dollar Index (DXY) could bounce northwards short term as price holds above a [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":105087,"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-105890","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":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>DXY Under Pressure as Fed Calls for Fiscal Stimulus - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/104559-dxy-under-pressure-as-fed-calls-for-fiscal-stimulus\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Fiona Cincotta\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104559-dxy-under-pressure-as-fed-calls-for-fiscal-stimulus\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104559-dxy-under-pressure-as-fed-calls-for-fiscal-stimulus\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"DXY Under Pressure as Fed Calls for Fiscal Stimulus\",\"datePublished\":\"2020-10-15T20:52:39+00:00\",\"dateModified\":\"2020-10-16T05:13:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104559-dxy-under-pressure-as-fed-calls-for-fiscal-stimulus\\\/\"},\"wordCount\":328,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104559-dxy-under-pressure-as-fed-calls-for-fiscal-stimulus\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2020\\\/09\\\/100607-gbp-usd-pound-higher-trade-talks-696x392-1.jpg\",\"keywords\":[\"DXY\",\"usd\"],\"articleSection\":[\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104559-dxy-under-pressure-as-fed-calls-for-fiscal-stimulus\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104559-dxy-under-pressure-as-fed-calls-for-fiscal-stimulus\\\/\",\"name\":\"DXY Under Pressure as Fed Calls for Fiscal Stimulus - 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