Blogs

<p>ECB announced to increase the pandemic emergency purchase programme (PEPP)  by EUR 600B to a total of EUR 1350B today. Purchases will continue to conducted in a “flexible manner over time, across asset classes and among jurisdictions”. Also, the horizon of PEPP net purchases will be extended to “at least the end of June 2

<p>Eurozone retail sales dropped -11.7% mom in April, better than expectation of -15.0% mom. The volume of retail trade decreased by -27.7% mom for automotive fuels, by -17.0% mom for non-food products and by 5.5% for food, drinks and tobacco. EU retail sales dropped -11.1% mom. Among Member States for which data are available, the […]

<p>UK PMI construction rose notably to 28.9 in May, up from 8.2, but missed expectation of 30.0. Still, it was the second lowest level since February 2009 and stayed well below 50 handle. Markit said that severe weakness persists during May, despite gradual reopening of construction sites. There were rapid falls in new orders amid […]

<p>ECB monetary policy decision is a major focus for today. After recent rhetorics from the central bank’s officials, markets are generally expecting an expansion of the Pandemic Emergency Asset Purchase (PEPP) to be announced today. Additional, ECB should release new macroeconomic projections that reflect the impact of the coronavirus

<p>Gold dropped to as low as 1689.36 yesterday and the break of 1693.64 support confirmed resumption of corrective fall from 1765.25. Deeper decline is now expected to 100% projection of 1765.25 to 1693.54 from 1745.14 at 1673.53 next. Also, we’re holding on to the view that such decline is correcting whole rise from 1451.16 to [&hellip

<p>Australia retail sales dropped -17.7% mom, more than double of March’s pre-lockdown surge of 8.5% mom. “COVID-19 continued to affect retail trade in April with many retail businesses closing their physical stores during April due to restrictions relating to social distancing” said Ben James, Director of Quarterly Economy

<p>ISM non-manufacturing index rose to 45.4 in May, up from 41.8, slightly above expectation of 43.0. Production improved notably from 26.0 to 41.0, so was new orders, from 32.9 to 41.0. Employment edged up from 30.0 to 31.8. But these three components remained well below 50 handle. ISM also noted: “The past relationship between the [&h

<p>BoC kept overnight rate at “effective lower bound” of 0.25% as widely expected. Bank Rate and deposit rates are held correspondingly at 0.50% and 0.25% respectively. The surprise is that it decided to scale back some market operations as financial conditions improved. Though, BoC maintains its commitment to continue large-scale

<p>US ADP report showed only -2760k contraction in private sector jobs in May, well below prior months -19557k. By company size, small businesses lost -435k jobs, medium businesses lost -722k, large businesses lost -1604k. By sector, goods-producing companies lost -794k, service-providing companies lost -1967k. “The impact of the COVID-

<p>Eurozone unemployment rate rose to 7.3% in April, up from March’s 7.1%. EU unemployment rose to 6.6%, up from 6.4%. Eurostat estimates that 14.079 million men and women in the EU, of whom 11.919 million in the euro area, were unemployed in April 2020. Compared with March 2020, the number of persons unemployed increased by […]