Permanent lockdown not a viable path forward to combating Covid-19

Ross J Burland FXStreet

US President Donald Trump is speaking at a presser and has said that a permanent lockdown is not a viable path forward to combating COVID-19.

Key comments

The virus is receding.

Trump says "permanent lockdown" not a viable path forward to combating coronavirus.
Says we may have a coronavirus vaccine far in advance of the end of the year.
Says he could prevent evictions through executive action.
Says can suspend the collection of payroll taxes through executive order.

Market implications

Trump is pushing to reopen the country, while he argued that lockdowns do not prevent future infections and other countries have seen a resurgence in cases after lockdowns.

Markets may continue to back the dollar and US equities due to this firming of the outlook for getting businesses back to work.

Wall Street Close: NASDAQ at record highs, S&P 500 set on filling the gap

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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