Trump: We're very close to completing a plan to open our country, hopefully even ahead of schedule

Ross J Burland FXStreet

US President Donald Trump listened to top U.S. health expert Dr Anthony Fauci when he recommended that mitigation efforts be taken to stop the spread of the coronavirus. However, Trump is determined to open the economy at the earliest opportunity.

In the Presser taking place, Trump has stated, "we're very close to completing a plan to open our country, hopefully even ahead of schedule."

Fauci made the comments after saying in a separate interview that lives could have been saved if the country had shut down sooner during the novel coronavirus outbreak.

Earlier, Trump retweeted a call to fire Fauci after that interview, but Reuters reports that the "White House said on Monday Trump did not intend to part ways with the director of the National Institute of Allergy and Infectious Diseases."

In other comments coming through, Trump said we think the opec+ agreement will lead to a 20 million bpd cut in global oil production, repeating earlier news, more on that here: WTI: OPEC+ has not done enough and Trump knows it

Additional comments from Trump

Trump says he will work with states on opening the economy but the president "calls the shots".
Trump says we'll know in next few days when he wants to reopen the country.
Says wants to end travel restrictions with Europe at the right time.
Says we'll know in next few days when he wants to reopen the country.
Trump says he should have a decision by the end of this week on world health organization funding.

Market implications

Markets will ride the prospects of the economy being cranked back into life, although the risk of contagion is going to be a challenge for the bulls and there could easily be setbacks along the way to anything proposed by Trump depending on the ebbs and flows of contagion and death tolls.

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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