Trump: Just don’t see any way Pelosi and Schumer will be willing to do what is right

Anil Panchal FXStreet

Late on Wednesday night, US President Donald Trump reiterated his bias that the House Democrats are the reason for the delay in the coronavirus (COVID-19) stimulus.

The Republican also criticized US House Speaker Nancy Pelosi, a Democrat, as well as Chuck Schumer, for not doing what’s right for the American workers and the USA as a whole.

In doing so, US President Trump mentioned the political play to favor the Democratic Party ruled states as the key intention.

Tweets…

Just don’t see any way Nancy Pelosi and Cryin’ Chuck Schumer will be willing to do what is right for our great American workers, or our wonderful USA itself, on Stimulus. Their primary focus is BAILING OUT poorly run (and high crime) Democrat cities and states....
— Donald J. Trump (@realDonaldTrump) October 21, 2020

....Should take care of our people. It wasn’t their fault that the Plague came in from China!
— Donald J. Trump (@realDonaldTrump) October 21, 2020

FX implications

Although the White House Chief has been blaming the opposition Democratic Party for a long, mainly as a part of his election campaign ahead of the next month’s poll, the news weighs expectation of an early stimulus. As a result, AUD/USD eases its bullish bias and steps back from one week high to 0.7112 by press time.

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.