European Union (EU) scheduled to decide budget and relief package on Thursday alongside European Central Bank's monetary policy decision. Both Poland and Hungary have vowed to veto the budget, including the €750 billion ($909 billion) coronavirus stimulus package. Both nations believe the budget is punishing them for their conservative values, as noted by Financial Times. [...]
The USD/CAD pair is getting weaker. The oil rally seems to be supporting the Canadian dollar. West Texas Intermediate (WTI) crude, the North American oil benchmark, is trading 1.8% higher on the day near $46.40 per barrel. On Thursday, the OPEC+, a group of major producers led by Saudi Arabia and Russia, reached an agreement [...]
The dollar became weaker and slid to a 2-1/2-year low against a basket of major currencies on Thursday as investors wagered that more economic stimulus from Washington and the expected start of COVID-19 vaccinations would support riskier assets. Bets on a successful roll-out of vaccines and China’s economic rebound are driving bets for global growth [...]
Euro has gained strength against dollar in a single-day percentage gain in nearly nine months. The Euro's rise is remarkable, given it is happening just days before the European Central Bank's Dec. 10 meeting, where policymakers are expected to announce additional monetary easing measures. The bearish sentiment around the dollar looks to be powering gains [...]
