Blogs

Highlights of the US May employment report – Change in Nonfarm payroll 2509K vs -7500K estimate. Prior month revised to -20687K vs -20537K estimate – two month Prior month revised -642K A breakdown of the sectors shows:

The May 2020 Canada employment report Details: The rise in the participation rate combined with better-than-expected unemployment is a great sign, at least at first blush.

Treasury yields continue to break higher Money is getting out of US Treasuries and into global equities. That paradigm is a major drag on the US dollar this week and is extending today with US 10-year yields up 4.5 bps to 0.8685%.

China to consider backstop China is considering using 200 billion yuan to address risks in the banking sector, according to Bloomberg. It will be used for measures including recapitalization for small-and-medium sized lenders.

Forex news from the European trading session – 5 June 2020 Headlines: Markets: – NZD leads, CHF lags on the day – European equities higher; E-minis up 1.0%

Bloomberg reports, citing OPEC+ delegates on the matter – All OPEC+ nations have agreed to comply with quotas – OPEC+ nations that didn't meet quotas previously, will compensate in July to Sept For bank trade ideas, check out eFX Plus

Saudi energy minister comments to Reuters – Conditions now warrant "hopefully successful" OPEC+ meeting tomorrow afternoon For bank trade ideas, check out eFX Plus

Further comments by Barnier For bank trade ideas, check out eFX Plus

Europe set to reopen its borders to the world just in time for the summer For bank trade ideas, check out eFX Plus

And now we hear the comments by UK Brexit negotiator, David Frost – Negotiations will continue, we remain committed to a successful outcome – We are now at an important moment for these talks For bank trade ideas, check out eFX Plus