US Pres. Trump: Large sections of US can reopen faster than others

Anil Panchal FXStreet

In his coronavirus task force briefings for Wednesday, for Asia its early Thursday, US President Donald Trump signal that the major part of the US will recover faster. Though, the Republican leader cited worries concerning New York City.

Key quotes

Large sections of US can reopen faster than others.

Have approved disaster declarations for New York, California and Washington.

New York City is by far our biggest problem.

Congress very close to passing the stimulus bill package is worth $2.2 trillion.

Congress should act on stimulus without delay.

Will sign the stimulus bill when reaches my desk immediately.

It was absolutely the right decision by Japan to postpone the Olympics.

FX implications

Although the early Asian inactivity weighed on the news’ impact, the market’s risk-on tone seems to get an additional boost after the announcements. While portraying the same, the S&P 500 Futures register 0.83% gains to 2,490 by the 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.

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