The October surprise is here – President Donald Trump and his wife Melania tested positive for COVID-19. The leader of the world's most powerful tested country announced the news on Twitter and was tested after his adviser Hope Hicks also contracted coronavirus. The bombshell news has sent stocks falling and the dollar higher – and for three good reasons, that could continue pushing it lower. Trump's Treasury Secretary Steven Mnuchin has been active in pursuing a fiscal stimulus deal with Speaker of the House Nancy Pelosi. However, other prominent Republicans such as White House Chief of Staff Mark Meadows and Senate Majority Leader Mitch McConnell have been skeptical about a large relief package. The president's leadership is critical in pushing a deal over the line and with the focus on the disease, it could remain stuck.
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AUD/USD is under pressure, heading towards 0.7100 amid broad US dollar strength. Risk sentiment sours on US stimulus woes and virus contagion, lifting the safe-haven dollar. Focus remains on US stimulus news, coronavirus stats.
USD/JPY's recovery from Wednesday's 0.85% decline is picking up pace in Asia, as the US dollar gains its feet amid risk-aversion. The reports that the BOJ will likely cut its growth and price forecasts for the current fiscal year at this week's monetary policy meeting weigh on the yen.
Bitcoin (BTC/USD) is back in the green zone above the 13,000 level this Monday, reversing a temporary reversal seen on Sunday. The No. 1 coin is seen testing daily highs, looking to retest Sunday’s high of 13,359. From a short-term perspective, the spot is primed for a fresh rally ...
Ripple's XRP is changing hands at at$0.256, mostly unchanged on a day-to-day basis. The coin has gained over 5% in the last seven days amid the recovery on the cryptocurrency market. XRP is currently the fourth largest digital asset.
ETH/USD has bumped into a strong resistance created by $420. On-chain and technical data implies that ETH is well-positioned to continue growing. However, a sustainable break above the critical area of $390-$400 switched ETH in a positive mode.