This is what you need to know to trade today Thursday, December 10:
Markets are licking their wounds after a bad day on Wednesday. Confidence was pushed lower by the lack of a breakthrough in Brexit, which has a new deadline for Sunday, and US fiscal stimulus talks. The ECB is ready to add stimulus and the US data is of interest.
Brexi: UK Prime Minister Boris Johnson and European Commission President Ursula von der Leyen did not make a breakthrough after a long dinner in Brussels. The EU and the UK agreed to extend the talks until Sunday, saying they are far apart. GBP / USD is trading at the lower edge of the range. The leaders of the bloc will meet on Thursday to take stock of the negotiations and other issues.
US fiscal stimulus: Democrats and Republicans still disagree on aid to the states and the liability clauses. The House passed a week-long interim bill, for now. Meanwhile, the number of daily deaths from COVID-19 in the US surpassed 3,000 for the first time. Hospitals are under increasing pressure, with another record above 106,000 on Wednesday.
Stocks also fell in response to a lawsuit brought against Facebook, accusing her of having monopoly powers. Tech stocks dragged sentiment lower. Outgoing President Donald Trump is making a last-ditch effort to overturn the election results with a lawsuit that is on the doorstep of the Supreme Court. The Electoral College meets on Monday and is ready to formalize the victory of President-elect Joe Biden.
It is projected that the European Central Bank to add around € 500 billion to your Pandemic Emergency Purchase Program (PEPP). The additional stimulus is mostly priced in by the markets. The president of the ECB, Christine Lagarde, could comment on the rise in the exchange rate of the euro, which depresses inflation and exports. Any indication of a reduction in the deposit rate, which is at -0.50%, would cause the euro to fall.
See ECB Preview: More money but not honey, Lagarde can send the euro down if he wants
Vaccine: The US Food and Drug Administration is set to approve Pfizer / BioNTech’s coronavirus immunization on Thursday, following the green light from Canada on Wednesday and approval from Great Britain last week. The FDA is considered the standard worldwide.
The Weekly Unemployment Claims in the United States They will remain above 700,000 after falling last week after Wednesday’s JOLT job openings surprised to the upside in October. Consumer Price Index figures for November are expected to show an uptick in inflation, a week before the Federal Reserve’s decision.
See Initial US Unemployment Claims: Less Indicative Than Emotional
The oro It is consolidating its losses around $ 1,840 as traders assess the diminishing chances of US stimulus. The Petroleum it has made no progress amid reports that compliance with production cuts has been weak among OPEC members.
The cryptocurrencies They have stabilized in lower ground, with Bitcoin changing hands around $ 18,300.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
