|

US Pres Trump: Getting close to a deal on additional stimulus, could have answered on Monday

US Pres Trump is said that they are getting close to a deal on additional stimulus and they could have answered on Monday.

  • Trump: Just spoke with US Treasury Secretary Mnuchin.
  • Says Vice President Pence will lead a call with governors Monday to discuss what can be done to further coronavirus response.
  • Trump says preparing to use defense production act to increase medical swab production at one US facility.
  • Reopening plans are being coordinated with Canada and Mexico.

Meanwhile, Reuters reported that US Vice President Mike Pence said the US has enough testing nationwide to allow any state to start lifting lockdown orders forced by the coronavirus if they have met other criteria.

"We believe we have the testing today around the country, that would allow any state in America to move to phase one (of the recovery plan) if they have met the other criteria," Pence said at a briefing. Those criteria include 14 days of declines in infections and enough hospital capacity to treat everyone who gets sick, he said.

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 continues to target 1.2000

EUR/USD builds on Monday’s optimism, edging closer to the key 1.2000 area while hitting tops last seen back in June 2021. The latest push higher reflects ongoing selling pressure on the US Dollar, with the broader risk environment still supportive and investors once again turning their attention to tariff-related risks emerging from the White House.

GBP/USD loses some momentum ahead of1.3800

GBP/USD continues to grind higher on Tuesday, climbing toward the 1.3800 handle and setting fresh multi-month highs as broad-based US Dollar weakness remains the dominant theme prior to Wednesday’s FOMC event.

Gold picks up pace, hovers around $5,100 zone

Gold is holding onto a positive tone, reclaiming the area near $5,100 per troy ounce and maintaining its uptrend well in place for yet another day on Tuesday. The yellow metal continues to draw support from a soft US Dollar, as well as lingering uncertainty around trade policy and wider geopolitical risks, all preceding the Fed’s interest rate decision.

Australia CPI expected to edge higher ahead of key RBA policy meeting

Australia will release the Consumer Price Index report on Wednesday, and it is expected to show inflation rose 3.6% year over year in December, slightly above the previous reading of 3.4%. The monthly CPI is foreseen at 0.7% after posting 0% in November.

Four problems of the US Dollar

The US Dollar Index returned to last year's lower bound, which we had not seen since 2022. The drivers are investment portfolio diversification, concerns about the US economic growth slowdown, rumours of FX interventions and active selling by carry-traders.

XRP price struggles below $2.00 despite steady ETF demand

Ripple (XRP) is trading around $1.88 at the time of writing on Tuesday, correcting from the previous day’s high of $1.95. The cross-border remittance token remains under immense pressure amid a weak technical structure.