As US COVID-19 cases rise 1.5%; below a 1-week average of 1.6%, US President Donald Trump has said that COVID-19 destruction could have been stopped by China. The country is ready to start moving forward and says that 2021 will be a great year from the economy’s standpoint. Realistically, it will boil down to whether the economy can get back to work without provoking the virus and the Federal Reserve’s Chairman, Jerome Powell, argues that a full economic recovery may require a COVID-19 vaccine first. Meanwhile, in other news of late, tensions between China and the US have never been hotter: A war of words: I call on China to expand the number of nuclear warheads & enhance nuclear deterrence – Global Times. Market implications The foundations are being layered down for a troublesome rest of the year and 2021. For a start, traders are concerned for the day to day strategic means for reopening economies pertaining to the COVID-19 lockdowns. On Friday, “the market’s sentiment continued to fluctuate between fears of economic downturns and hopes on reopenings. Treasury yields remained depressed throughout the week,” – FXStreet Then, there are trade war tensions to contend with. Meanwhile, while the prospect of a war between the US and China has been simmering away on the backburners, it is still not considered as an immediate threat in the markets. However, the yen and US dollar, gold and Bitcoin are favoiured as safe haven instruments in theese times. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Forex Weekly Outlook May 18-22 – Weak GDP Numbers Point to Sputtering Global Growth Kenny Fisher 2 years As US COVID-19 cases rise 1.5%; below a 1-week average of 1.6%, US President Donald Trump has said that COVID-19 destruction could have been stopped by China. The country is ready to start moving forward and says that 2021 will be a great year from the economy’s standpoint. Realistically, it will boil down to whether the economy can get back to work without provoking the virus and the Federal Reserve's Chairman, Jerome Powell, argues that a full economic recovery may require a COVID-19 vaccine first. Meanwhile, in other news of late, tensions between China and the US have never been… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.