US Pres. Trump to sign COVID-19 stimulus in noon ceremony on Friday

Dhwani Mehta FXStreet

Reuters is carrying fresh headlines, citing that US President Donald Trump is set to sign the COVID-19 stimulus package in noon ceremony (local time) on Friday.

Early Asia, the US House members voted 388 to 5 in favor of the $484 billion aid package for small businesses, hospitals and testing. The stimulus package is another attempt by the Trump administration to mitigate the coronavirus led economic fallout.

Coronavirus update: US CDC reports an increase of 25,858 new cases, 1,804 deaths as of April 22

Market reaction

The market mood remains fragile amid negative virus-related news while intensifying global recession fears add to the pessimism. The greenback continues to enjoy the haven demand, now bouncing-back towards the two-week highs of 100.68 reached against its main rivals.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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