Greenback modestly stronger
The US greenback is firmer after a weak jobless claims quantity. The market response to that shocking print has been disjointed. Bond yields are falling now on the prospects for extra easing, or the Fed working QE for longer.
That is in all probability an overreaction to at least one information level that is seemingly skewed by holidays. Total, US 10-year yields are up 1.1 bps to 1.096% at present after hitting 1.115% earlier.
The greenback firmed as New York merchants arrived however solely reasonably. A few of that was in opposition to the loonie as oil costs slid. EUR/USD slid to 1.2110 from 1.2150 however has since stabilized.
The principle occasion at present comes at present at 7:15 pm ET when Biden reveals his stimulus plan. The NYT studies will probably be break up into two payments with the primary one more likely to embody $2000 direct funds, help to state and native governments and boosts to unemployment advantages.
Look to feedback from Rosengren on the high of the hour.
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