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- European session review: USD slips amid renewed U.S. fiscal stimulus optimism
European session review: USD slips amid renewed U.S. fiscal stimulus optimism
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 09:30 | Switzerland | SNB Chairman Jordan Speaks | ||||
| 10:15 | Eurozone | ECB's Yves Mersch Speaks | ||||
| 11:30 | Eurozone | ECB Monetary Policy Meeting Accounts | ||||
| 12:15 | Canada | Housing Starts | September | 261.5 | 240 | 209 |
| 12:30 | U.S. | Continuing Jobless Claims | September | 11979 | 11400 | 10976 |
| 12:30 | U.S. | Initial Jobless Claims | October | 849 | 820 | 840 |
| 12:30 | Canada | BOC Gov Tiff Macklem Speaks |
USD edged down against most other major currencies in the European session on Thursday as investors grew more optimistic that the U.S. lawmakers could approve more fiscal stimulus for the U.S. economy, even if it comes in the form of smaller, targeted aid bills.
The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, dropped 0.03% to 93.60.
FOX News' congressional correspondent reported that House Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin expected to speak again today about narrow coronavirus bills, specifically for airlines.
In addition, market participants continued to digest the minutes of the September meeting of the U.S. Federal Reserve, released on Wednesday, which hinted at the central bank's willingness to provide deeper monetary support in the form of accelerated monthly bond purchases and years of near-zero interest rates.
Investors also bet that Joe Biden, the Democratic candidate for U.S. president, if elected, would quickly spend money to stimulate economic recovery.
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