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- European session review: USD mixed as markets await more fiscal stimulus, Fed Chair Powell's speech
European session review: USD mixed as markets await more fiscal stimulus, Fed Chair Powell's speech
| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|---|---|---|---|---|---|
| 08:30 | United Kingdom | PMI Construction | September | 54.6 | 54 | 56.8 |
| 08:35 | Eurozone | ECB President Lagarde Speaks |
USD traded mixed against its major rivals in the European session on Tuesday after the U.S. president Donald Trump returned to White House from the hospital and investor focus returned to stimulus talks.
The U.S. currency rose against GBP, AUD and NZD, but fell against EUR, JPY and CHF.
President Trump returned to the White House Monday night following three days of treatment for his coronavirus infection at the hospital. Ahead of the discharge, he tweeted that he is "feeling really good", though White House physician Dr. Sean Conley acknowledged earlier in the day that the president “may not entirely be out of the woods yet.”
Meanwhile, the U.S. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin spoke for an hour on Monday regarding the new stimulus bill but did not reach a compromise. They will continue stimulus talks today, but it is unclear whether they can agree to a deal.
Market participants are also awaiting the speech of the Federal Reserve Chairman Jerome Powell, who is to address the National Association for Business Economics at 14:40 GMT to speak about the economic outlook.
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