Time | Country | Event | Period | Previous value | Forecast | Actual |
---|---|---|---|---|---|---|
07:00 | Germany | Current Account | December | 21.2 | 28.2 | |
07:00 | Germany | Trade Balance (non s.a.), bln | December | 16.7 | 14.8 |
USD fell against its major rivals in the European session on Tuesday amid signs that the House Democrats were moving forward with a $1.9 trillion stimulus bill.
The U.S. Dollar Index (DXY), measuring the U.S. currency's value relative to a basket of foreign currencies, dropped 0.37% to 90.60, its lowest level since January 29.
The House Democrats unveiled a draft of the coronavirus stimulus package on Monday night, which includes $1400 stimulus checks with $75,000/year eligibility, a $400 per week unemployment benefit supplement, a $3600 child credit, funding to state and local governments and vaccine distribution among the proposals. This draft, however, could change over the next month-plus of negotiations. The White House Press Secretary Jen Psaki said that the stimulus plan probably would advance under a fast-tracked procedure Democrats could use to clear the package with just a simple majority vote in the Senate.
Some experts believe that a fresh round of the U.S. fiscal stimulus along with record low-interest rates in the country will weigh on USD in the coming months.
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