Tue, Dec 01, 2020 @ 02:16 GMT
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Still No U.S. Stimulus Impacts USD

U.S. Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi failed again to agree on a fiscal stimulus deal. Later today, the U.S. Commerce Department will post Durable Goods Orders for September (+0.5% on month expected) and the Conference Board will release its Consumer Confidence Index for October (101.9 expected).

From a technical point of view, on a daily chart, EUR/USD stands below its former rising trend line and is challenging its 50-day moving average (in blue). Readers may therefore consider the potential for further weakness below 1.1900. The nearest threshold would be set at October bottom at 1.1685 and a second one would be set at September low at 1.1610.

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