News that Senate Majority Leader Mitch McConnell has agreed to resume negotiations with Democrats over a potential new Covid-19 bill as cases continue to surge around the country, according to Senate Minority Leader Chuck Schumer, as boosted risk sentiment on Wall Street late on the day.
The S&P 500 has been making a correction and has now moved in on the 210hour moving average on the news.
Last night, they’ve agreed to sit down and the staffs are going to sit down today or tomorrow to try to begin to see if we can get a real good Covid relief bill,” Schumer explained addressing the press at a conference in New York.
Higher beta currencies have also been boosted on the news with the Australian dollar climbing up within negative territory to test the 0.7280 resistance area.
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