Dollar Continues to Rise; Euro Breaks Below Key Level

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The common currency fell to fresh lows not seen since early December, despite a lack of data from the Eurozone. If EUR/USD can push below a major psychological level, the dollar could see more significant gains. The Bloomberg Dollar Index is up 0.3% and is at its highest level in a month.

Equity futures are fluctuating between gains and losses this morning but are seemingly not affecting the greenback’s rise.   Eyes will continue to be fixated on Washington and hopes of an upcoming fiscal stimulus package.  President Biden appears unwavering on his demand for stimulus checks to be $1400 to individuals. However, the earnings thresholds to qualify for the check may be negotiable to gain some GOP support.

Durable goods and factory orders are due out at 10 a.m.  There are also a number of Fed speakers and corporate earnings on today’s docket.  Tomorrow’s, Non-Farm payroll print remains the largest risk event on the schedule.

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