{"id":106999,"date":"2020-12-02T18:54:57","date_gmt":"2020-12-02T18:54:57","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=106999"},"modified":"2020-12-02T18:54:57","modified_gmt":"2020-12-02T18:54:57","slug":"104954-dxy-could-fall-lower-on-renewed-fiscal-aid-hopes","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104954-dxy-could-fall-lower-on-renewed-fiscal-aid-hopes\/","title":{"rendered":"DXY Could Fall Lower on Renewed Fiscal Aid Hopes"},"content":{"rendered":"<ul>\n<li><strong>Equity edged northwards in Asian session as US fiscal aid negotiations restarted.<\/strong><\/li>\n<li><strong>The Fed\u2019s dovish stance and the possibility of additional fiscal stimulus could keep the USD under pressure..<\/strong><\/li>\n<li><strong>US Dollar Index (DXY) set to extend losses as the price drops below key support.<\/strong><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Stock markets pushed mildly higher in the Asian session amid coronavirus vaccine developments and the revival of US fiscal stimulus talks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Australia\u2019s ASX 200 edged 0.03% higher despite a much stronger than forecastQ3 GDP print.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In FX markets, the risk-sensitive AUD, NZD and CAD\u00a0 outperformed and the safe haven USD and JPY lost ground.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Looking ahead, Eurozone unemployment figures and speeches from several members of the Federal Reserve will be in focus.<\/span><\/p>\n<p><strong>Renewed Fiscal Stimulus Talks to Cap USD Gains<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">A revival of fiscal stimulus hopes could limit any gains in the safe haven US Dollar after US lawmakers propose a $900 billion package to restart negotiations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Even so it still seems relatively unlikely that a large fiscal stimulus bill will happen given the Republicans strong opposition to the Democrats\u2019 previously proposed 2.4 trillion package,<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It remains to be seen if these talks will bear fruit considering the vastly differing opinions on the size of any additional stimulus bill.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Whilst both sides disagree over the size of a stimulus package, they do at least both believe that some form of stimulus needs to be passed before the year end.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The prospect of further fiscal support could drag on the US Dollar..<\/span><\/p>\n<p><strong>Dovish Fed to Drag on USD<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">The latest FOMC\u00a0 November meeting minutes showed that the Fed could ease policy in December.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With Treasury Secretary Mnuchin\u2019s putting an end to several Fed funding facilities after their December 31 deadline, and as covid cases surge, the Fed could look to act sooner rather than later.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As a result the US Dollar could\u00a0 come under further pressure in the coming weeks.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Equity edged northwards in Asian session as US fiscal aid negotiations restarted. The Fed\u2019s dovish stance and the possibility of additional fiscal stimulus could keep the USD under pressure.. US Dollar Index (DXY) set to extend losses as the price drops below key support. Stock markets pushed mildly higher in the Asian session amid coronavirus [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5300,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1381],"tags":[],"class_list":["post-106999","post","type-post","status-publish","format-standard","has-post-thumbnail","category-usd"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>DXY Could Fall Lower on Renewed Fiscal Aid Hopes - 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\/104954-dxy-could-fall-lower-on-renewed-fiscal-aid-hopes\/\" \/>\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\\\/104954-dxy-could-fall-lower-on-renewed-fiscal-aid-hopes\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104954-dxy-could-fall-lower-on-renewed-fiscal-aid-hopes\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"DXY Could Fall Lower on Renewed Fiscal Aid Hopes\",\"datePublished\":\"2020-12-02T18:54:57+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104954-dxy-could-fall-lower-on-renewed-fiscal-aid-hopes\\\/\"},\"wordCount\":320,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104954-dxy-could-fall-lower-on-renewed-fiscal-aid-hopes\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100867-gbp-usd-brexit-in-focus-again.jpg\",\"articleSection\":[\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104954-dxy-could-fall-lower-on-renewed-fiscal-aid-hopes\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/104954-dxy-could-fall-lower-on-renewed-fiscal-aid-hopes\\\/\",\"name\":\"DXY Could Fall Lower on Renewed Fiscal Aid Hopes - 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