US Bipartisan infrastructure bill being finalized “imminently”

Ross J Burland FXStreet

US Senate Majority Leader Chuck Schumer said on Sunday that a $1 trillion bipartisan infrastructure bill was being finalized "imminently" and that the legislative effort was firmly on track to be completed in a matter of days.

"Despite some bumps in the road, always expected on two bills as large and comprehensive as these, we remain firmly on track to achieve our two-track goal," Schumer said.

The implications are positive for the US stock market that has printed fresh highs in recent sessions. Technically, after surpassing the daily 78.6% Fibonacci threshold (34,850) earlier in the week, the Dow remains in good stead for additional gains above 35,000 with the 35,500s the level to beat.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD weakens as US jobs data trims Fed rate cut bets

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GBP/USD bullish outlook prevails above 1.3600, UK GDP data looms

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UK GDP set to post weak growth as markets rise bets on March rate cut

Markets will be watching closely on Thursday, when the United Kingdom’s Office for National Statistics will release the advance estimate of Q4 Gross Domestic Product. If the data land in line with consensus, the UK economy would have continued to grow at an annualised pace of 1.2%, compared with 1.3% recorded the previous year.

The market trades the path not the past

The payroll number did not just beat. It reset the tone. 130,000 vs. 65,000 expected, with a 35,000 whisper. 79 of 80 economists leaning the wrong way. Unemployment and underemployment are edging lower. For all the statistical fog around birth-death adjustments and seasonal quirks, the core message was unmistakable. The labour market is not cracking.

Sonic Labs’ vertical integration fuels recovery in S token

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