U.S CONGRESS WILL SUPPORT COVID-19 PACKAGE AMOUNTING $ 900 BILLION DOLLARS

21.12.2020
Market News
21st Dec. - After several weeks of negotiations after negotiations, finally both Democrats and Republicans agreed to jointly support the Covid-19 aid package estimated at $ 900 Billion dollars into the market.

This economic stimulus package is particularly important as the Covid-19 pandemic situation in the United States is still critical where over 100,000 new infections are recorded daily with the death toll reaching over 300,000 cases so far and the highest number overall.

This stimulus package is the second largest in US economic history, after an injection of $ 2.3 trillion Dollars last March. This package also needs to be signed by President Donald Trump.

The new president, who will lead the White House administration, Joe Biden, will face a major challenge as he ascends to the most important seat in the United States at a time when the Covid-19 pandemic is growing. However, the advent of vaccines has given new light to the recovery of this crisis.

The United States has started their national vaccination program since last week. Vaccination produced by Pfizer and BioNTech companies is the main choice of the US government, besides also reported that the Food and Drug Administration (FDA) has approved the use of vaccines from Moderna companies this week.

It is likely that this news will provide some strengthening to the value of the US Dollar.

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AHMAD FAIZUDDIN BIN RAZALI

CHIEF ANALYST OF CDG GLOBAL