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Following the US Coronavirus Task Force Briefing Presser, the White House Economic Adviser Larry Kudlow crossed wires, via Reuters. The US diplomat signaled that US President Donald Trump may extend the payroll tax relief through the year’s end.

Key quotes

Still working on the package.

will outline more details in the near future.

Will unveil more tax proposals later in summer or autumn.

FX implications

Considering the absence of any details relating to the US leader’s ‘major’ economic response to coronavirus (COVID-19), investors seem to await fresh clues to extend the previous optimism. While portraying that, S&P 500 Futures slip 0.90% to 2,850 by the press time.

Expert score

5

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