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- European session review: USD retreats as risk appetite improves on expectations that U.S. president Trump could leave the hospital today
European session review: USD retreats as risk appetite improves on expectations that U.S. president Trump could leave the hospital today
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 08:00 | Eurozone | Eurogroup Meetings | ||||
| 08:00 | Eurozone | Services PMI | September | 50.5 | 47.6 | 48 |
| 08:30 | United Kingdom | Purchasing Manager Index Services | September | 58.8 | 55.1 | 56.1 |
| 09:00 | Eurozone | Retail Sales (MoM) | August | -1.8% | 2.4% | 4.4% |
| 09:00 | Eurozone | Retail Sales (YoY) | August | -0.1% | 2.2% | 3.7% |
USD fell against most major currencies in the European session on Monday as reports that the condition of the U.S. President Donald Trump, who stays in a Washington hospital following his Friday announcement that he had tested positive for coronavirus, improved bolstered risk appetite.
The White House doctor Sean Conley said that Donald Trump's condition was improving and could be discharged from the hospital today. Meanwhile, the U.S. president took a brief motorcade ride Sunday to wave to his supporters standing outside the hospital, an indication that he was in good spirits.
Renewed hopes for stimulus talks between the White House and Democrats also boosted market sentiment. The U.S. president tweeted from the hospital on Saturday that “OUR GREAT USA WANTS & NEEDS STIMULUS. WORK TOGETHER AND GET IT DONE. Thank you!" It is expected that the U.S. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin will resume stimulus this week and will try again to compromise another coronavirus relief bill that could be worth between $1. trillion and $2.2 trillion.
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