Stock futures remained somewhat lower on Tuesday, and they were consolidation after yesterday’s huge rally. The SP500 index was trying to defend the 3,400 USD level, while the Dow was trying to stay above 28,000 USD. 

President Trump returned to the White House on Monday after a three-night hospital stay following treatment for Covid-19.

Later in the day, the Fed’s Chairman Powell is among many Fed officials scheduled to give a keynote speech on the economic outlook this week. His speeches are usually followed by elevated volatility, especially in the stock market.

Additionally, ECB President Christine Lagarde is due to participate in a virtual panel discussion at an event celebrating the 10th anniversary of the European Stability Mechanism. Her speech might bring some increased volatility to the EURUSD pair, especially if she talks about monetary policy.

Moreover, markets are really excited as chances for a new massive fiscal stimulus are increasing each day. US House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin spoke by phone for about an hour on Monday. They are also expected to talk today, possibly hammering out the new fiscal stimulus’s last details. 

As more stimulus is incoming and the mood in the markets improved, the greenback lost ground, and the EURUSD pair is back at 1.18. Cable managed to get back to 1.30.



About Author

Peter Bukov

Peter comes from a background in corporate finance which began in 2013 when he completed the Corporate Finance Program at the University of Economics in Bratislava. He’s been actively involved in the market sector since 2008 and got his hands-on experience in trading in 2011. His experience in finance and trading continues not only as a market analyst at Axiory Intelligence but also through his studies to obtain a degree in Capital Markets. The study is in line with MIFID II regulations and is under the supervision of the European Regulator ESMA, which strongly emphasizes ethics and morale in investing and working with a client.

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