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28 Apr 2020

US Pres. Trump says “COVID-19 reparations” coming, “US will bill China at least $160 billion”

US President Trump has been crossing the wires and has said that "COVID-19 reparations" coming and that the "US will bill China at least $160 billion". In the same breath, US President Trump says the economy is going to come back very fast. 

Additional quotes

  • Says businesses they will e in good shape || says worst days of pandemic are behind.
  • Says the second round of PPP has processed 450,000 loans totalling over $50 billion.

Market implications

Trade wars will be back on the agenda as Trump seeks to reinstate his authority over the US and drive up demand from his supporters for a leader that will take on China, passing blame for the global pandemic. in any case, the phase-one deal’s target for increased services exports to China this year, almost $13 billon, is almost certainly out of reach which likely means both parties will have to go back to the drawing boards. Trade wars were a huge weight on risk appetite since Trump's presidency and they will be again. Regardless of whether markets recover from COVID-19, trade wars could tip the scales for the next downturn. 

 

 

 

 

 

 

Apr 28, 2020

Forex Today: It’s going to get noisy

What you need to know on Wednesday, April 29th: The US Dollar seesawed between gains and losses alongside the market’s sentiment, ending the day with
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Apr 28, 2020

US CDC reports 23,371 new coronavirus cases as of yesterday

The US CDC reports 23,371 new coronavirus cases as of yesterday. Key notes Total now 981,246 cases vs 957,875 in previous report on April 27. US CDC r
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