- The dollar index trades largely unchanged on the day near 90.25.
- The US President-elect Joe Biden unveils the coronavirus rescue plan, promises support to small businesses.
The dollar index, which tracks the greenback's value against major currencies, is barely moving in response to the US President-elect Joe Biden's ongoing unveiling of the aggressive coronavirus rescue plan.
"We have to act...and we've to act now, that's what economists are telling us," Biden said a few minutes before press time while stressing the need to reduce the economic gap between the top 1% of the American economy and workers.
Biden added that his rescue plan would help the small businesses which are engines of the US economy.
$2000 [in cheques] is going to go a long way to ease that pain
We need about $400 billion of funding from Congress to make all of what I've just said happen.
There should be a national minimum wage of $15 an hour. No one working 40 hours a week should live below the poverty line.
The President-elect is planning 100 million vaccine shots in the first 100 days.
So far, Biden's comments have failed to move the currency markets. The dollar index continues to trade in a sideways manner around 90.25, having printed a high and low of 90.58 and 90.07 ahead of Biden's speech.
According to media reports released early Friday, the total size of Biden's fiscal package is $1.9 trillion. DXY's muted reaction suggests the additional budgetary stimulus was already priced in.
The bond markets, too, are seeing little action, with the 10-year yield trading marginally weaker on the day near 1.116%.
Dollar Index Spot
|Today last price||90.24|
|Today Daily Change||0.00|
|Today Daily Change %||0.00|
|Today daily open||90.24|
|Previous Daily High||90.58|
|Previous Daily Low||90.07|
|Previous Weekly High||90.25|
|Previous Weekly Low||89.21|
|Previous Monthly High||92.02|
|Previous Monthly Low||89.52|
|Daily Fibonacci 38.2%||90.27|
|Daily Fibonacci 61.8%||90.39|
|Daily Pivot Point S1||90.01|
|Daily Pivot Point S2||89.79|
|Daily Pivot Point S3||89.51|
|Daily Pivot Point R1||90.52|
|Daily Pivot Point R2||90.8|
|Daily Pivot Point R3||91.03|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.