Why ASX miners will get a double tailwind from Biden’s US$1.9tn stimulus

The market is expected to kick off the week on a positive footing, but it’s the ASX miners that could be leading the charge tomorrow.

The S&P/ASX 200 Index (Index:^AXJO) is likely to follow the positive leads from Wall Street with the S&P 500 (INDEXSP: .INX) jumping 0.4%.

The market is getting excited about US President Joe Biden’s US$1.9 trillion stimulus package. It’s looking increasingly likely that this generous package will pass Congress. The disappointing US job report released on Friday will just about guarantee it.

Double benefit to ASX mining shares

While this wall of cash will lift risk assets, it will provide ASX miners with a double tailwind.

The first tailwind relates to the US dollar, which tumbled on the news….