Breaking: US Pres. Trump declares coronavirus as a national emergency

FXStreet Team FXStreet

In a scheduled news conference on the coronavirus outbreak, US President Trump addresses the nation and says that “when you compare what we've done compared to other countries, it's incredible.”

Trump declared coronavirus as a national emergency, as expected.

Further comments

Asks hospitals to activate emergency plans.

Emergency order gives broad plans to activate emergency plans.

Allows hospitals to waive some requirements.

US authorities do not want people to get a coronavirus test if they do not need it.

Expects up to 500K additional tests to be ready early next week.

Google will develop a website to determine whether a test is warranted and to help facilitate testing.

We don't want everyone taking this test, it's totally unnecessary.

This will pass.

Waives interest on all student loans held by agencies.

Authorized refilling of US strategic petroleum reserve 'right up to the top'.

Markets speculated President Trump to declare a national emergency on Friday to supply more liquidity to fight a pandemic that has killed over 40 people in the US.

This comes after the New York Federal Reserve announced a wave of $37 billion of Treasury bond purchases, adding to Thursday’s liquidity injection.

US dollar reaction

The US dollar index renews a two-week high near 98.80 on President Trump’s comments on coronavirus. The USD index is up 1.40% so far this Friday.

Meanwhile, the US 10-year Treasury yields little changed at 0.933%, maintaining over 10% gains on a daily basis. The main Wall Street indices are holding near daily highs, up over 5.50% so far.

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FXStreet Team

FXStreet

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