-
Fiscal stimulus prospects wilt risk appetite, USD gains, equities suffer
“Will they? Won’t they?” Uncertainty seems to be a common theme for the key factors driving major markets right now. It should therefore come as little surprise that major forex and commodities are stuck in a risk-on/risk-off loop, lacking conviction and range bound. Conflicting daily reports of progress and then lack of agreement on US fiscal support, are dragging the dollar lower then higher, but overall, meaning that a lack of trend is the result. The Democrats and Republicans seem to be too far apart for an imminent agreement, and the prospects of something this side of the Presidential election are ... (full story)