The dollar is weak against the pound and the euro this morning, ahead of an eventful week. There are hopes that Congress will finally agree on a stimulus package to help the US economy before the Federal Reserve’s monetary policy meeting on Wednesday. Markets will be looking out for comments from House Speaker Nancy Pelosi and Secretary Steven Mnuchin on how the stimulus talks are progressing.
The Federal Reserve are due to hold their latest meeting on Wednesday and are expected to comment on how the US economy has coped with a surging number of coronavirus cases.
Retail sales data will also be released this week, assessing how consumers spent during November. Despite a surge in sales over Black Friday and Cyber Monday, sales are expected to have dipped overall in November.
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