{"id":107977,"date":"2021-01-22T19:41:42","date_gmt":"2021-01-22T19:41:42","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=107977"},"modified":"2021-01-22T19:41:42","modified_gmt":"2021-01-22T19:41:42","slug":"105287-dxy-looks-to-yearly-low-on-biden-fiscal-stimulus-optimism","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/105287-dxy-looks-to-yearly-low-on-biden-fiscal-stimulus-optimism\/","title":{"rendered":"DXY Looks To Yearly Low on Biden Fiscal Stimulus Optimism"},"content":{"rendered":"<ul>\n<li><strong>Risk appetite deteriorated in the Asian session as tighter lookdown restrictions in Hong Kong unnerved investors.<\/strong><\/li>\n<li><strong>Loose monetary policy combined with the prospect of further deficit spending could limit US Dollar potential gains.<\/strong><\/li>\n<li><span style=\"font-weight: 400;\"><strong>The US Dollar Index (DXY) eyes yearly lows as price remains in a Descending Channel<\/strong>.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Tighter lockdown restrictions in Hong Kong overshadowed US fiscal stimulus optimism. Hong Kong\u2019s Hang Seng index plummeted 1.32% Australia\u2019s ASX 200 dropped 0.34% while Japan\u2019s Nikkei 225 fell 0.44%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In FX markets, the risk-sensitive AUD, NZD and CAD lost ground versus major peers while the safe haven USD and CHF advanced.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">German, Eurozone and US PMI figures plus Canadian retail sales will be in focus<\/span><\/p>\n<p><strong>Stimulus Hopes to Weigh on the US Dollar<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">Loose monetary policy conditions and the prospect of additional fiscal stimulus dragged on the safe haven US Dollar.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">President Joe Biden intends to push\u00a0 $1.9 trillion in fiscal aid to support the US economy..<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, given the recent comments from several Republican members it appears unlikely that the full<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With just 16.5 million Americans receiving at least one dose of the covid vaccine and weekly continuing jobless claims sitting around 5 million, additional support seems almost a necessity.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Treasury Secretary nominee Janet Yellen\u2019s warned that not taking action \u201cwould likely leave us in a worse place fiscally\u201d, comments which may encourage both sides to agree a deal.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The push for additional spending could undermine the Greenback against its major counterparts and ultimately drive the US Dollar Index (DXY) lower in the coming weeks.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Risk appetite deteriorated in the Asian session as tighter lookdown restrictions in Hong Kong unnerved investors. Loose monetary policy combined with the prospect of further deficit spending could limit US Dollar potential gains. The US Dollar Index (DXY) eyes yearly lows as price remains in a Descending Channel. Tighter lockdown restrictions in Hong Kong overshadowed [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5543,"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-107977","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 Looks To Yearly Low on Biden Fiscal Stimulus Optimism - 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\/105287-dxy-looks-to-yearly-low-on-biden-fiscal-stimulus-optimism\/\" \/>\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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105287-dxy-looks-to-yearly-low-on-biden-fiscal-stimulus-optimism\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105287-dxy-looks-to-yearly-low-on-biden-fiscal-stimulus-optimism\\\/\"},\"author\":{\"name\":\"Fiona Cincotta\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/8ef0fafb6c93f1204150bb907b42cfec\"},\"headline\":\"DXY Looks To Yearly Low on Biden Fiscal Stimulus Optimism\",\"datePublished\":\"2021-01-22T19:41:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105287-dxy-looks-to-yearly-low-on-biden-fiscal-stimulus-optimism\\\/\"},\"wordCount\":261,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105287-dxy-looks-to-yearly-low-on-biden-fiscal-stimulus-optimism\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100611-gbp-usd-will-nfp-help-dollar.jpg\",\"keywords\":[\"DXY\",\"usd\"],\"articleSection\":[\"USD\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2021\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105287-dxy-looks-to-yearly-low-on-biden-fiscal-stimulus-optimism\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/105287-dxy-looks-to-yearly-low-on-biden-fiscal-stimulus-optimism\\\/\",\"name\":\"DXY Looks To Yearly Low on Biden Fiscal Stimulus Optimism - 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