Daily thread to exchange ideas and to share your thoughts The loonie leads gains on slightly higher oil prices, but also as USD/CAD broke to fresh lows under its 100-day moving average in overnight trading.
Blogs
Germany reports 213 new coronavirus cases, another 11 deaths in latest update
RKI estimates the virus reproduction rate to be at 1.20 as of yesterday That brings the total confirmed cases to 182,028 but daily recoveries (~600) are still outpacing the daily virus count for now. This brings the total recoveries to ~166,400 persons.
China Global Times accuses Trump of brazen hypocrisy
Editor-in-chief of China's Global Times on Trump's favourite media, Twitter: Arrogant, brazen … Trump in the naughty books of the GT. For bank trade ideas, check out eFX Plus
Westpac revise their Australia Q1 GDP forecast higher, but still looking for contraction
Australian first quarter economic growth data is due on Wednesday 3 June 2020 at 0130GMT After today's data dump from Australia which contained partial indictors for the result WPAC have bumped up their forecast:
Moody's say Japan GDP to contract 6.5% in 2020
The ratings firm say coronavirus is the biggest shock to Japan since the global financial crisis. Japan had to go through the earthquake/tsunami/Fukushima disaster of 2011 also. The thing about the Japanese people is they handle such horrific events with grace and resilience.
ForexLive Asia FX news wrap: RBA meeting ahead
Forex news for Asia trading Tuesday 2 June 2020 Politics was once again the focus with speculation rising that US President Trump would impose martial law on the country and send US troops into the streets to control the population. Trump held a press conference in the early evening in which he hinted strongly at […]
Data from Australia just published – inventories, exports used as inputs to GDP
Plenty of Australian data just published: Inventories for Q1 -1.2% q/q … inventories were run down due to the rush on stores into the beginning of the coronavirus panic – firms could not keep up with demands for certain products hence inventory run down. This will be a negative for the GDP data due tomorrow.
FX option expiries for Tuesday June 02 at the 10am NY cut
EUR/USD NZD/USD EUR/GBP For bank trade ideas, check out eFX Plus
US President Trump signal on imposing martial law – what it means for the USD
Analysts are turning their attention to how the sending of US troops in to take control of cities will impact markets. At ForexLive, Adam posted earlier on why the unrest is weighing on the dollar, ICYMI:
EUR/USD forecast from Goldman Sachs
And a few others! USD/JPY didn't make it to the pic: – 3 mth forecast 107 – 6mth 105 For bank trade ideas, check out eFX Plus