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U.S. Pres Trump failed to substantiate.......>

DOLLAR: U.S. Pres Trump failed to substantiate earlier bombastic pledges of
"substantial" & "dramatic" measures to aid the economy amidst the coronavirus
crisis, which has prompted participants to sell USD in the Asia-Pac session.
Press reports have pointed to Dems vs. Reps divisions over the details of a
stimulus plan. In addition, the spread of Covid-19 across the U.S. has continued
to fuel concerns, as the country's case count topped 1,000 & CDC said that in
some places the epidemic is beyond control. USD is the worst G10 performer.
- Early projections of Joe Biden defeating Sanders in the key Michigan primary,
as well as contests in Missouri & Mississippi, weren't enough to prop up USD as
mkts had already priced Biden's position as the frontrunner. Unconfirmed rumours
were doing the rounds suggesting that Sanders mulls suspending his campaign.
- WSJ reported that the White House is poised to extend the Apr 15 tax deadline.
- DXY sits -28 pips at 96.13, with bears looking to take out y'day's trough at
95.23 before bringing the Mar 9 low of 94.65 into view. Bulls take aim at
y'day's high of 96.58, followed by the 38.2% retracement of YtD range at 96.66.
- WTI last trades ~$0.90 higher, with gold ~$14.7 higher.

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