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The chance of additional stimulus seems to have disappeared

The chance of additional stimulus seems to have disappeared | 15 October 2020

15 October 2020, USD/JPY

The chance of additional stimulus seems to have disappeared

USDJPY trading plan:

The chance of additional U.S. stimulus ahead of the elections in early November seems to have disappeared. "Getting something done before the election and executing on that would be difficult," U.S. Treasury Secretary Steve Mnuchin said on Wednesday, adding that he and Democrat House Speaker Nancy Pelosi are still "far apart" on their spending priorities. This is a negative signal for the US stock market and USDJPY. The US Treasury will place treasury bonds in the amount of $ 89 billion, which is the highest level in the last two weeks. Significant bond issues in the past have helped strengthen the dollar.

Trading recommendation: range 105.10 -105.60.

David Johnson
Analyst of «FreshForex» company
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