The US Allocates $2 Trillion to Support Economy

The US dollar fell again relative to a basket of major currencies on Friday. The dollar index (#DX) closed in the negative zone (-0.92%). On Friday, US President Donald Trump signed a bill, granting financial support to the US economy in the amount of $2 trillion. Such financial assistance has become the largest measure of economic support in US history. On Sunday, D. Trump announced the extension of quarantine until the end of April, although he hoped that he could end the quarantine before Easter. However, public health experts suggest that coronavirus may last much longer. However, the US President hopes that the situation in the country will begin to improve by June 1.

This week, investors expect the publication of NonFarm Payrolls for March, and most likely, its data will turn out to be worse than expected due to the impact of the pandemic. On Thursday, the publication of another huge wave of new jobless claims is expected.

Meanwhile, there are already 735,560 patients affected by coronavirus in the world. Among them are 143,055 in the United States. Italy is the second (97,689 cases), Spain – the third (85,195 cases).

The "black gold" prices continue to consolidate. Currently, futures for the WTI crude oil are testing the $20.15 mark per barrel.

Market indicators

On Friday, there were aggressive sales in the US stock market: #SPY (-2.98%), #DIA (-3.87%), #QQQ (-3.44%).

The 10-year US government bonds yield fell again. At the moment, the indicator is at the level of 0.65-0.66%.

The news feed on 2020.03.30:
  • - Pending home sales in the US at 17:00 (GMT+3:00).

by JustForex, 2020.03.30

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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