Forex Today: Trump Critiques Proposed Corona Relief

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on December 23, 2020

Trump demands $2K relief per American instead of proposed $600.

  • President Trump is demanding changes to the coronavirus relief bill passed by Congress yesterday. The bill is being widely criticized for providing only $600 to each American while including millions in aid to foreign countries and performing arts centers in the U.S.A. President Trump is demanding the pork be cut and relief raised from $600 to $2K before he will approve the bill. U.S. stock markets dipped slightly on the resulting anticipated delay.
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  • Most major currencies are in strong, long-term bullish trends against the U.S. dollar, and close to multi-year high prices. These trends are now quietly reasserting themselves, with the dollar clearly the weakest major currency while the British pound and Australian dollar look strong.
  • 3. U.K. sources are saying that a final trade deal with the E.U. may be agreed tomorrow, boosting the British pound.
  • U.S. final GDP came in at a quarterly increase of 33.4%, just a whisker above expectations.
  • Today will see the release of Canadian GDP data.
  • A new strain of coronavirus has emerged in the U.K. and is reported to be up to 70% more infectious than generic coronavirus, while there is some fear it may be resistant to the vaccines. This has led the British government to impose further restrictions on populous south-eastern England and over 40 countries (notably France, Germany, and the Netherlands) have begun to bar entry to flights and travelers from the U.K. and some also from Denmark. Additionally, a new strain has emerged in South Africa which seems to produce more serious illness in younger people.
  • Global coronavirus deaths have increased dramatically since early October to reach a level approximately 90% higher than the peak last April. Coronavirus new cases seem to be rising again in the European Union, but new cases and deaths are beginning to plateau in the U.S.A. The U.S.A. is currently confirming more than 200,000 new cases daily and is now seeing more than 3,400 deaths per day.
  • Total confirmed new coronavirus cases worldwide stand at over 78 million with an average case fatality rate of 2.20%.
  • The rate of new coronavirus infections appears to now be increasing most quickly in Belarus, Bolivia, Brazil, Burkina Faso, Canada, Chile, Colombia, Cuba, Czech Republic, Dominican Republic, Egypt, Estonia, Indonesia, Ireland, Israel, South Korea, Latvia, Liechtenstein, Malaysia, Netherlands, Niger, Norway, Panama, Philippines, Russia, Senegal, South Africa, Sudan, Tunisia, Uruguay, and the U.K.

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