The World Health Organization brought something resembling good news by stating that the coronavirus might be approaching its peak in Europe. The WHO is hoping for a resolution similar to China, where despite the quick spread of the virus, it was relatively well contained with quarantine measures. China has since not seen a high uptick in new cases. The WHO hopes that Europe will get to that point before the end of April. Most eyes are on Italy, Spain, and France, which are the most affected countries in Europe right now, with Germany not far behind.
The United States remains in a lockdown that is becoming increasingly more serious each day, as the country is now the most heavily affected by the coronavirus pandemic. With close to 165,000 cases, the US has a Covid-19 incidence twice as high as China did, and many predict the pandemic has not even reached its peak in America yet.
While last week the government dealt with a bill to unlock $2.2 trillion for spending on counteracting the pandemic, commonly known as the “phase 3” stimulus package, now there are whispers of a new piece of legislation to dedicate even more funding to the cause.
Thanks to the stimulus plans, as well as the prospect of the pandemic ending in Europe soon, today the markets are showing signs of recovery. Indices are modestly up all around the globe. Demand for the dollar is on the rise as well, boosting the value of the USD.
