US Pres. Trump: See glimmers of hope despite very painful week

Anil Panchal FXStreet

During his routing daily Coronavirus Task Force Briefings, US President Donald Trump struck cautiously optimistic statements while seeing glimmers of hope and citing the progress on anti-corona vaccine.

Key quotes

US being hit hard by coronavirus right now.

See glimmers of hope despite very painful week.

We’re working quickly to find an anti-corona vaccine and it may take a while.

More than $70 billion in guaranteed relief loans processed.

Will ask congress for additioanl $250 billion.

We pay for majority of WHO (World Health Organization) and they actually cricized and disagreed with my travel ban.

Going to put a hold on US contribution to WHO.

WHO takes great sides with China being biased.

US military building 15,000 hospital beds in hotspots including Chicago.

We havce 8,675 ventilators in stockpiles and ready to move.

US may be getting to the top of coronavirus curve.

Dollar is strong, people are investing.

Would like to see a payroll tax cut but Democrats are stopping it.

This would be a fantastic time to have a payroll tax cut.

FX implications

Following the latest step back in the market’s risk-on sentiment, measured comments from US President offered additional reason to worry for the traders. Though, early-Asian trading hours restricted the reaction to the news.

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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