The October month shock is here – US President Donald Trump and the first lady tested positive for corona virus Thursday. Trump tweeted that he and his wife Melania would begin their “recovery process immediately” and “get through this together.”

Minutes after Trump tweeted his positive test result, the White House physician said the president was “well” and would continue to perform his duties “without disruption” while quarantining along with the first lady. Dr Sean Conley said the pair plans to “remain home at the White House during their convalescence.”

The president becomes the highest-profile world leader to contract the virus, just a month before he seeks a second term in the White House. The diagnosis has thrown his reelection plan into turmoil. Immediately, the White House canceled plans for Trump to attend a campaign fundraiser and to fly to Florida for a rally later Friday. However, the first lady’s chief of staff wrote on Twitter that “nothing” would stop the pair from “fighting for the American people.”

On the other hand, First-time claims for unemployment insurance totaled 837,000 last week, the Labor Department said Thursday as the jobs market continues its plodding recovery from the corona virus pandemic. Economists surveyed by Dow Jones had been expecting 850,000. The weekly total represented a decline of 36,000 from the previous week’s upwardly revised 870,000, according to seasonally adjusted numbers.

This was the fifth consecutive week that claims were under 1 million after staying there for five months following the COVID-19-related economic shutdown in mid-March. However, the total is still well above anything the U.S. has seen since before the crisis. Continuing claims provided some better news, with those collecting benefits for at least two weeks falling by 980,000 to 11.77 million.

USD/CHF 4 Hour Chart:

Support: 0.9162 (S1), 0.9138 (S2), 0.9112 (S3).

Resistance: 0.9212 (R1), 0.9238 (R2), 0.9262 (R3).

In the prevailing market sentiment which risk-prone for dollar as US president and first lady tested positive for the virus, we expect a bearish trend for USD/CHF.