The pair will continue its rally to retest its previous high. The US market had a roller coaster ride last month following the threats posed by coronavirus to its economy. Currently, the US had already the largest cases of coronavirus around the world. In response to this, the US Congress approved a $2 trillion stimulus package needed to save the US economy. However, this might be far from over. Last week, the US had the largest jobless claim in history at 3.24 million. The US said it is expecting the number to reach 3.50 million this week. However, analysts expect the number to continue growing after US President Donald Trump said the next two (2) weeks might be the most painful time. The death toll relating to coronavirus is expected to reach 240,000. Despite the negative reports, investors are optimistic about the USD. Trump and the Congress were already discussing the next stimulus package on top of the $2 trillion packages already approved.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.