22 December 2020 : After months of failed negotiations, Congressional leaders have finally reached a deal on a $900 billion economic relief package to boost the US economy.

Although this agreement is less than half of the $2 trillion deal that Pelosi and the Trump administration were close to securing before the November election, ‘half a loaf is better than no bread’ as they say. The stimulus breakthrough failed to lift risk sentiment this morning as Asian shares dipped amid unease over a new virus strain in the United Kingdom. With the lack of progress on Brexit talks also likely to blunt appetite for risk, European markets are set to open on a soft note. Market volatility may cool over the next few days, especially if investors head for the sidelines ahead of the Christmas holiday break on Friday.

Reporting for EasyKobo on Tuesday ,22 December 2020 in Lagos, Nigeria

Source : Lukman Otunuga, Senior Research Analyst at FXTM