The West Texas Intermediate Crude Oil market has initially fallen during the trading session, as there was a lot of concern when it comes to the oversupply and the surprise build with inventory figures.
Blogs
NZD/SGD: Can Breakdown Mature into Extended Correction? – 29 May 2020
New Zealand could be declared Covid-19 free in as little as 21 days.
All eyes on Trump now
The market remains in a cautious mood so far awaiting US president Trump's announcement on China later today Treasury yields are also keeping a tad lower with 10-year yields down by 2 bps to 0.669%, though Treasuries have not been any great indicator of market sentiment lately.
Heads up: Fed chair Powell to speak later in the day
Trump isn't the only one to watch out for later in North American trading The event carries the title of 'Princeton Reunions Virtual Talk: A conversation with Federal Reserve chair Jerome Powell and Alan Blinder'. For some context, Blinder was the former Fed vice chair during Bill Clinton's presidency.
Eurozone May preliminary CPI +0.1% vs +0.1% y/y expected
Latest data released by Eurostat – 29 May 2020 Inflation readings may not be a major focus in the market right now, but it will be once the dust settles down a bit more from the coronavirus crisis.
Drop in oil prices and falling DXY keep USDCAD cornered
USDCAD cornered Looking to trade USDCAD? to learn more. Checkout ForexSource.co See here for global coronavirus case data
AUD gets a lift from the DXY
USD month end selling Looking to trade AUDUSD to learn more. Checkout ForexSource.co See here for global coronavirus case data
Germany stresses that dialogue is key to influence China on the Hong Kong issue
Remarks by German foreign minister, Heiko Maas "I think the past has shown that it is, above all, important to have a dialogue with China in which the EU very cohesively brings both issues and principles to the fore and then we will see where this dialogue leads." The "we will see" part is a […]
Eurozone April M3 money supply +8.3% vs +8.2% y/y expected
Latest data released by the ECB – 29 May 2020 – +7.5% See here for global coronavirus case data Broad money is seen swelling in April amid the injection of liquidity to combat the coronavirus crisis, with credit to the private sector and general government seen increasing notably. Also, loans to the private sector and […]
Italy Q1 final GDP -5.3% vs 4.7% q/q prelim
Latest data released by Istat – 29 May 2020 – Q1 final GDP -5.4% vs -4.8% y/y prelim The preliminary report can be found . The revised figures reflect a deeper slump in Q1 so that isn't too comforting, but in any case this will be surpassed by the historic fall in Q2.