In US, Lawmakers from both the House of Representatives and the Senate have largely returned to their home states for August recess, according to a report. As such, the much-anticipated stimulus is likely to remain elusive at least until September, when lawmakers will return to work.

“We will have our regular pro forma meetings through the end of the state work period,” McConnell said. “If the Speaker of the House and the minority leader of the Senate decide to finally let another package move forward, it would take bipartisan consent to meet for legislative business sooner than scheduled,” McConnell said.

The United States and China postponed a Saturday review of their Phase 1 trade deal, people familiar with the plans told Reuters, citing scheduling conflicts.

One source familiar with the talks said the delay was related to a conference of senior Communist Party leaders at the seaside town of Beidaihe on China’s northeast coast. The postponement did not reflect any substantive problem with the trade deal, the source said, adding: “The new date has not been finalized yet.”

U.S. President Donald Trump on Friday repeated his view that the trade deal was “doing very well,” but did not comment on the delayed meeting.

In the meantime, President Donald Trump signed an executive order on Thursday banning transactions with ByteDance, the parent company of popular app TikTok. The White House also announced that he signed a similar order banning transactions with WeChat, the messaging app owned by Tencent that is ubiquitous in China, but has a much smaller presence than TikTok in the United States, where it is used mainly by members of the Chinese diaspora.

Microsoft announced over the weekend that it is in negotiations to buy TikTok from ByteDance, naming September 15 as a deadline for negotiations. The order would take effect shortly after the deadline set by Microsoft for the deal. ByteDance reportedly agreed to give up its entire ownership in the app even though it had previously wanted to maintain a minority stake.

EUR/USD 4 Hours Chart:

Support: 1.1798 (S1), 1.1755 (S2), 1.1730 (S3).

Resistance: 1.1867 (R1), 1.1893 (R2), 1.1935 (R3).

The Delay in the Fiscal stimulus and US-China deal setbacks greenback against Euro. We expect a bullish trend for EUR/USD.