Tally: US coronavirus cases top two-million, highest in world – Reuters

Ross J Burland FXStreet

Reuters reports that the US coronavirus cases top two-million, the highest in the world.

Meanwhile, the total number of coronavirus cases around the world has crossed the 7.3 million mark. The Federal Reserve was today and Chairman Powell explained that job losses will be: ‘well into millions’ could be out of work for some time

Key comments

Despite near-term fiscal aid, further support may be needed.
‘Way too early’ to be changing longer-run forecasts.
Risk of longer-lasting damage to economy.
Risk over time is lasting damage to productive capacity of us.
His forecast for longer-run jobless rate is unchanged.

The US dollar is weaker on the session, -0.4% and sticks are also down on the sentiment that the US recovery will be slow and painful. The S&P 500 is down 0.17% at the time of writing.

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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