Baden’s program can be approved at the end of the month

13.02.2021

US House of Representatives Democratic Speaker Nancy Pelosi expects lawmakers to complete President Joe Biden’s proposed stimulus package of $1.9 trillion to tackle the spread of the coronavirus by the end of February. Biden’s program provides for the allocation of approximately $400 billion directly to the fight against the pandemic, about $1 trillion should be directed to providing assistance to the population, and the remaining $500 billion to stimulate the economy.

I expect the growth of the American stock market until the approval of this anti-crisis program, after which the well-known rule may work: buy on rumors – sell on facts. The growth of the S&P500 stock index will have a positive influence on this currency pair, insofar as the instruments are historically correlated with each other.

Investment idea: Buy 104.60/104.45 and take profit 104.95.