Big plan coming? Good news to the financial market
On Wednesday (March 25) in the Asian session, the latest news is that the Republican and Democratic parties will agree on the stimulus plan. The White House also confirmed that news, further boosting the market sentiment.
This economic stimulus package has a scale of up to $2 trillion to lower the impact of the current global pandemic of new coronaviruses on American households and businesses, thereby saving the US economy.
However, due to a certain extent of expectations, the market did not move much in the short term. The risk aversion has further eased, gold price, which has soared recently, has fallen to about $1600, and the Dow futures are approaching 21000 points. In addition, oil prices, which have been weak recently, have not responded much. US oil (WTI) is ranging at the $25 level. In the currency market, the Australian dollar, one of the commodity currencies, responded significantly, returning back to 60 cents.