|

US Pres. Trump: Dow surges in historic gain, we want re-open for business when time is right

US President Trump is addressing the nation pertaining to COVID-19 during the Task Force meeting. Trump said on Tuesday his administration's decision to loosen restrictions related to the coronavirus and re-open the US economy would be based on facts and data but said the goal remained to do so by the Easter holiday in April. Trump, speaking to reporters at the White House, explained that for the most part he did not expect to have to use the Defense Production Act but would do so as needed.

Key comments from Task Force

  • Would be great to open by Easter, evaluating data.
  • Lawmakers getting very close to a fair deal on COVID-19 stimulus, senators hopefully will vote soon.
  • Would be great to open by easter, evaluating data.
  • Says for the most part we won’t have to use defense production act but will use it if need be.
  • Says our decision on reopening economy will be based on hard facts and data.
  • Says we're working hard to make easter a reality for reopening economy.
  • US Vice President pence says we are particularly focused on new york
  • Birx says everyone who left new york city in last few days should self-quarantine for next 14 days.
  • There could be flexibility in different areas of the country, says Dr. Fauci. "It's going to be looking at the data."
  • Kudlow says the overall government aid to the economy would total $6 trillion, including the $2 trillion from Congress and $4 trillion from the Fed.
  • "Great Progress" on Stimulus Deal, Kudlow says.
  • Birx says 370,000 coronavirus tests have been done so far.
  • NYC is a hot spot, other parts of US are doing very well. 
  • We can have large sections of the country open like the farm belt, such as Texas.
  • We will have a tremendous bounce back, it's going to go very quickly. 
  • US health official Fauci says the date for reopening the economy is very flexible.

Author

Ross J Burland

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.

More from Ross J Burland
Share:

Editor's Picks

EUR/USD drops below 1.1600 on broad USD strength

EUR/USD stays under bearish pressure and trades at a fresh six-week low below 1.1600 on Tuesday. Despite stronger-than-forecast inflation data from the Eurozone, the pair struggles to stage a rebound as the US Dollar continues to attract safe haven flows amid escalating geopolitical tensions in the Middle East. 

GBP/USD attacks 1.3300, refreshing three-month lows

GBP/USD is deep in the red near 1.3300, accelerating its downside to renew three-month lows in European trading on Tuesday. The ongoing escalation in the Iran war, combined with rising Oil prices, weighs negatively on the higher-yielding Pound Sterling as the US Dollar capitalizes on increased haven demand.

Gold falls below $5,300 as stronger USD counter Middle East woes

Gold attracts some intraday selling and falls below $5,300 on Tuesday. The US Dollar climbs to a fresh high since January 20 and turns out to be a key factor exerting downward pressure on the commodity. However, concerns about a broader regional conflict in the Middle East continue to weigh on investors' sentiment and underpin demand for the traditional safe-haven bullion.

Stellar risks deeper losses as derivatives metrics turn negative

Stellar is trading red below $0.16 at the time of writing on Tuesday, after a slight recovery the previous day. Weakening derivatives data caps the recovery, while an unfavorable technical outlook projects a deeper correction for the XLM token in the upcoming days.

Middle East conflict ramps up a gear as energy price spike rips through markets

It’s another risk off day as geopolitical headwinds continue to batter financial markets. Although markets calmed during the US session and US stocks managed to post gains on Monday, this has not fed through to the European session, and stocks and bonds are sharply lower for a second day.

Hyperliquid Price Forecast: HYPE rises on commodities demand amid US-Iran war

Hyperliquid (HYPE) steadies above $33 at press time on Tuesday, marking its fourth consecutive day of recovery in a broadly volatile market due to the ongoing US-Israel strikes on Iran.