Trump signed one of the biggest budget bills on Friday and ended the second shutdown of the US government since the beginning of the year. Both chambers of the Congress adopted the bill, the main winner afterwards is the military industry.
Earlier today Trump told Twitter "I just signed the new budget and our military will be stronger than ever."
The bill provides for a two-year increase in military spending of more than $300 billion. and $90 billion. which will assist disaster-stricken people in the United States.
Here's the details of the deal that revived the dollar in recent hours:
- $165 billion. will be allocated for military activities
- $131 billion. will be targeted at the Ministry of Internal Affairs
- $90 billion. will be earmarked for the needs of debilitating regions for faster recovery after natural cataclysms similar to those we have witnessed - hurricanes, fires and Arctic frosts.
- The budget includes a two-year agreement that will fund public health centers.
- Trump pledged a large sum to finance the infrastructure projects he promised in his election campaign.
The dollar positively reflected the deal as early as Wednesday when Senate Majority Leader Mitch McConnell presented a bilateral state budget agreement that would provide nearly $300 billion. more about defense and other government spending.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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