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People's Bank of China  PBOC injects 300bn via OMOs, 7 day RRs – yesterday was 240bn, another hefty one today See here for global coronavirus case data

<p>Eurozone CPI slowed to 0.1% yoy in May, down from 0.3% yoy. That’s also the lowest level in four years. Nevertheless, the slow down was largely driving by -12.0% yoy in energy prices. Excluding energy, CPI was unchanged at 1.4%. CPI ex energy and unprocessed food was unchanged at 1.1% yoy. CPI ex energy, good, […]

<p>According to second estimate, France GDP dropped -5.3% in Q1, revised down from -4.8% in first estimate. Household consumption expenditure recorded an unprecedented drop (-5.6%). Total gross fixed capital formation (GFCF) fell even more sharply (-10.5%). All in all, total domestic demand (excluding changes in inventories) contracted: it co

<p>Swiss KOF Economic Barometer dropped to 53.2 in May, down from 59.7, missed expectation of 70.2. The reading has halved now since the beginning of the year. KOF said that as in April, “the manufacturing sector continues to have the strongest negative impact. Indicators relating to foreign demand also have a clearly negative impact on

<p>New Zealand ANZ Consumer Confidence rebounded by 12pts to 97.3 in May, but remained at “very subdued levels”. Consumers’ perceptions regarding next year’s economic outlook lifted 10 pts -46, still at very low level. ANZ said: “We absolutely should celebrate our success in beating back COVID-19, but the wreckag

<p>Japan’s industrial production plunged -9.1% mom in April, even worse than expectation of -5.1% mom. That’s the biggest decline since comparable data became available back in 2013. “Conditions among manufacturers particularly in the auto sector are severe, but production has already restarted in China and I think that they

<p>New York Fed President John Williams dismissed the idea of negative rates again and said “we have other tools that I think are more effective and more powerful to stimulate the economy”. He added, “I don’t think negative rates is something that makes sense given the situation we’re in because we have these oth

<p>Dollar remains generally weak in Asian session, with notable selloff against Yen too. Markets generally turned cautious as US President Donald Trump is set to announce his new China policies on Friday. This is in response to China’s passing of national security law to forcibly impose on Hong Kong. With that Secretary of State Mike [&

<p>We expect RBA to leave its monetary policy measures unchanged in June. Governor Philip Lowe appeared cautiously optimistic about domestic economic outlook. We expect the central bank will deliver a more upbeat economic outlook while pledge to leave the policy rate at record low level for years. The forward guidance will also be maintained,

<p>Crude oil inventory in the US surprisingly increased last week. Meanwhile imports also jumped due to shipment from Saudi Arabia. Supply in the US was partly offset by further decline in domestic production. The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks rose