US Pres. Trump: Making progress on stimulus, both sides want it done

Anil Panchal FXStreet

Early Wednesday morning in Asia, US President Donald Trump crossed wires, via Reuters, while providing updates of the Senate talks over phase 4 of the much-debated fiscal package. The Republican leaders increased hopes of another dose of money supply after the European leaders’ agreement over 750 billion Euros of aid plan.

Key quotes

Making progress on stimulus both sides want it done.

Coronavirus (COVID-19) likely to get worse before it gets better.

Americans should wear a mask when they cannot socially distance.

Fatalities from virus have been falling since April.

A vaccine will be along sooner than thought possible.

Ready to work with anybody (when asked about China vaccine).

FX implications

Although the early-Asian session becomes a less suitable time to look for volatile markets, the news increases the odds of further risk-on sentiment and may help the AUD/USD pair to extend its run-up towards 0.7200. That said, the aussie pair currently trades near 0.7125.

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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