Breaking: US President Trump tests positive, S&P 500 Futures slumps over 30 points

FXStreet Team FXStreet

Early Friday, US President Donald Trump tweeted of him testing positive on the coronavirus (COVID-19) after one of his team member got infected before a few hours.

Following the news of Hope Hicks' covid-19 infection, US President Trump and Wife Milenia both appeared for the tests and waited for results. The global markets turned cautious before tanking on the confirmation that the leader of the world's biggest economy is infected with the deadly virus.

The CNBC came out with the comments from the White House physician Sean Conley saying, "The President and First Lady are both well at this time, and they plan to remain at home within the White House during their convalescence.” The news also said he expects Trump to “continue carrying out his duties without disruption while recovering.”

Tonight, @FLOTUS and I tested positive for COVID-19. We will begin our quarantine and recovery process immediately. We will get through this TOGETHER!
— Donald J. Trump (@realDonaldTrump) October 2, 2020

S&P 500 Futures slips below 3,350...

Following the news, S&P Futures slumped from 3,362.62 to currently around 3,319, down over 1.40% intraday. With the COVID-19 stimulus talks already in the jeopardy, US President Trump's quarantine will add uncertainty into the global markets. The same can help the US dollar to recover the latest losses. That said, the US Dollar Index (DXY) recently jumped towards 94.00 while printing 0.26% gains on a day.

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FXStreet

EUR/USD deflates to fresh lows, targets 1.1600

The selling pressure on EUR/USD now gathers extra pace, prompting the pair to hit fresh multi-week lows in the 1.1625-1.1620 band on Friday. The continuation of the downward bias comes in response to further gains in the US Dollar as market participants continue to assess the mixed release of US Nonfarm Payrolls in December.

GBP/USD breaks below 1.3400, challenges the 200-day SMA

GBP/USD remains under heavy fire and retreats for the fourth consecutive day on Friday. Indeed, Cable suffers the strong performance of the Greenback, intensified post-mixed NFP, and trades at shouting distance from its critical 200-day SMA near 1.3380.

Gold flirts with yearly tops around $4,500

Gold keeps its positive bias on Friday, adding to Thursday’s advance and challenging yearly highs in the $4,500 region per troy ounce. The risk-off sentiment favours the yellow metal despite the firmer tone in the Greenback and rising US Treasury yields.