Harry Reid, the Majority leader in the US Senate says it is “not clear” that another stimulus package is needed. Why is Reid so unsure? Very likely because he is up for reelection in 2010 and is doing miserably in the polls in a state that isn’t all that blue.
US equities trade just above their 200-day moving average while EUR/USD trade just above New York lows. Looks like we’ll have to wait until late in the session to see if we stage a late bounce or pierce support.
