Gold Price Forecast: XAU/USD treads water near $1,800, bearish bias stays intact fxstreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fxstreet.com Daily Mail and Mail on Sunday newspapers.
Dec 23, 2020 08:32 GMTFXStreet News
Here is what you need to know on Wednesday, December 23:
The dollar is on the back foot, shrugging off President Trump’s rejection of a crucial part of the stimulus bill as tensions about the covid strain recede. Optimism about an imminent Brexit deal and a packed day of data await traders.
US fiscal stimulus at risk? President Donald Trump said that the relief package that Congress passed is a “disgrace” – specifically referring to checks sent to all Americans, the most symbolic part of the $900 billion package. He wants it raised from $600 to $2,000.
House Democrats support the additional cash, putting Republicans in a conundrum. Trump stayed short of stating he would veto the hard-fought bill. Uncertainty partially weighed on the market mood. However, the US dollar is retreating from the highs. Gold, which jumped on Monday after the parties struck a deal, is retreating.