US Pres. Trump: Next week, week and a half will show big surge of virus

Anil Panchal FXStreet

During his Coronavirus Task Force Briefings for Monday, US President Donald Trump cited fears of a big surge of virus in the next week or week and a half. The Republican leader also said that the US made tremendous progress on therapeutics.

Key quotes

Next week, week and a half will show big surge of virus.

Made tremendous progress on therapeutics.

Amicable agreement reached with 3M over masks, delivery of some 165 million masks in coming months.

We will allow the US Navy ship in New York to become a hospital for people living with the Coronavirus.

We are taking preventive measures because the large numbers of casualities are stabilizing.

Businesses applied for more than $40Bln in relief loans, $30Bln in hospital aid going out this week.

China buying $40-50 billion in US agricultural products.

Doesn't like Indian PM Modi's decision in exporting Hydroxychloroquine, may be retaliation on India's drug decision.

FX implications

Given the traders’ active reaction to any coronavirus news from the US, the market’s risk-tone turned heavy after the news as S&P 500 Futures slips 0.30% 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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