Blogs

A softer touch for Asian equities but it isn't as bad as feared Elsewhere, US futures are up by around 1.4% after the sharp fall yesterday amid signs of a slight retracement but all eyes will be on how Wall Street takes to this going into the weekend later on in the day.

The record ¥31.9 trillion second extra budget has been approved That roughly amounts to $300 billion and will fund part of the $1.1 trillion relief package that was unveiled by the Japanese government last month to combat the fallout from the coronavirus outbreak.

Daily thread to exchange ideas and to share your thoughts The dollar is still keeping slightly firmer for the most part though, with some key near-term technical levels being taken out in overnight trading against other major currencies.

Comments by China's vice finance minister, Xu Hongcai – Will set up special transfer payments of ¥2 trillion in funds – Funds will directly reach city, county levels to help local governments Even as the coronavirus crisis is managed from a health perspective, the economic fallout is continuing to reverberate in China

Latest data released by METI – 12 June 2020 – Industrial production -15.0% vs -14.4% y/y prelim – Capacity utilisation -13.3% m/m – Prior -3.6% Slight delay in the release by the source. The preliminary release can be found . Not much change to the initial figures as industrial output suffered during the month of […]

Fin Min Aso is playing down the prospect for a third budget, wants to further monitor steps taken already. The real driver is a run on stops above 106.90 and 107.00 though – shorts taking note of a bit of stability back into US equities (the bounce is small compared to the decline on Thursday […]

UK PM Boris Johnson and European Commission President Ursula von der Leyen are planning to hold Brexit talks on June 15 Negotiations over their future trading have come to a bit of a halt as both sides stick to their positions. The two will seek a way ahead.

Forex news for Asia trading Friday 12 June 2020  –   US equity index futures showed a bit of life, with small bounces (circa 1%) after the massive downdrafts (circa -6 to -7%) they saw on Thursday. Local stock markets all opened, and traded, down but got at least some respite (could have been worse!) […]

Australian PM Morrison addressing media – says there will be further outbreaks – no plans yet for nightclubs to reopen  – some international students to return Morrison says the further easing in restrictions will come in July. 

An ICYMI - David Frost is EU adviser to Prime Minister Boris Johnson He tweeted earlier that the transition period ends on 31 December this year and "We will not ask to extend it. If the EU asks we will say no. "