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Daily Market Outlook - Greenback rebounds and Oil tanks

Monday, December 21, 2020 2:51 PM GMT

The Greenback continues to bounce back after it recorded new lows on Thursday. This comes as US Congress announced its $900bn COVID-19 aid package, succeeding numerous negotiating efforts in the last months. On the other hand, USOil prices have collapsed plummeting to $46 as the UK and Europe have detected a new COVID-19 mutation which is spreading faster than the original strand.

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US news: US Congress has finally enacted the long-awaited COVID-19 relief bill. Lawmakers also passed a stopgap spending bill to avoid the shutdown of the government at midnight on Sunday. 

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EU-UK news: The EU has approved the merger between France’s Groupe PSA and Fiat Chrysler Automobiles, making it one of the largest auto-deals of 2020. In Brexit news, fishing rights still remain the hot issue between negotiations, with just 10 days before the deadline expires. 

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Corporate news: Lockheed Martin announced the purchase of Aerojet Rocketdyne, a company that specializes in rocket-engines, for $4.4bnl. In other news, Bumble, the dating app created by the co-founder of Tinder, has filed to launch its IPO in February with speculation the company is aiming for an $8bn valuation.

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Macros: Earlier today China’s Loan Prime Rate 1Y at 3.85% remained unchanged, and no other major news is expected for the rest of the day.

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The views expressed do not constitute investment or any other advice /recommendation /suggestion and are subject to change. Reliance upon information in this material is at the sole discretion of the reader. Opinions expressed in the report do not represent the opinion of ZuluTrade Social Trading Platform and do not constitute an offer or invitation to anyone to invest or trade.

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