While heading into more stimulus talks, the key one, While House Chief of Staff Mark Meadows showed a little optimism as both sides are far from agreeing on the final amount of the aid package.
Key quotes
If we don’t reach a top line number, there becomes very little incentive to have further conversations.
At this point, they are still at $3.4 trillion and going north and so at some point, compromise has to have a dollar sign in front of it.
We are north of where our initial offer ($1 trillion) was.
Market implications
With the sober mood of US policymakers, market players fear no agreement over the much-awaited stimulus, which in turn drags AUD/USD from the 1.5-year high to 0.7230, with the recent low of 0.7213, by the press time.
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