AUD/USD: Regains 0.5900 as US Coronavirus Relief Bill nears the final vote
|- AUD/USD pulls back from the session low after the news.
- The US Senate passed COVID-19 Bill, the final vote in the lower house still pending.
- The House Speaker Pelosi earlier demanded 24-hour notice for the special voting to call senators back from holiday.
With the US Coronavirus Relief Bill manage to pass through the Senate, AUD/USD pulls back from the Asian session low to 0.5915 amid the early Thursday. However, the final vote on the bill is yet pending and might create a scene considering the latest signals from the policymakers.
The US Senate finally manages to pass the much-awaited coronavirus (COVID-19) stimulus package. The estimated $2.0 trillion aid bundle could ignore the calls to amend jobless claims benefits from the opposition Democrats.
Though the final vote in the lower house is still pending and the policymakers have gone to the holiday period till April 20. As a result, the House Speak Nancy Pelosi earlier asked for a 24-hour notice to call the Senators from the off to vote, which in turn dims the prospects of the bill to turn into the law before late-Friday.
On the other hand, the US coronavirus numbers have been worrisome with cases jumping by 12,000 in one day while the death toll breaching 1,000 mark.
Even so, the market sentiment is likely to have cheered the recent news with the US 10-year treasury yields bouncing back beyond 0.80%.
Investors may now await the US jobless claims as it is likely to register extreme numbers due to the virus pandemic. However, the COVID-19 headlines are not expected to move from the driver’s seat.
Technical analysis
Unless breaking 0.6080 immediate resistance, AUD/USD prices can’t rule out odds to revisit the 0.5740 support level.
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