Blogs

This inventory report is released to subscribers and hit's media in the moments following. – Official US govmt survey data is due tomorrow morning US time.  Oil price dipping on the data release to a fresh low ion the session. A draw was expected, for the 3rd week in a row. Nope. 

EUR/USD  USD/JPY  GBP/USD  NZD/USD See here for global coronavirus case data

People's Bank of China weakens the onshore yuan at the central rate setting, but this is a mild move from them indeed with CNH knocking on the door of 7.20 

25bp rate cut from the Bank of Korea  See here for global coronavirus case data

Reserve Bank of Australia Governor Lowe is speaking from his appearance at the Australian parliament's Senate Select Committee on COVID-19 Earlier: More now:

Reserve Bank of Australia Governor Lowe is speaking from his appearance at the Australian parliament's Senate Select Committee on COVID-19 – RBA will maintain its expansionary monetary polices until progress is made towards full employment and we are confident on inflation 

Leaked slides from a  Goldman Sachs investor presentation  Goldman Sachs say the danger of hacks, other losses related to cryptocurrencies, along with their use to abet illicit activities are all liabilities for crypto. GS conclude that cryptocurrencies, such as Bitcoin,

<p>New Zealand ANZ Business Confidence improved to -41.8 in May, up from May’s prelim reading of -45.6, and April’s -66.6. All industry stayed negative, worst in Agriculture at -82.1. Activity Outlook improved to -38.7, up from May’s prelim reading of -42.0, and April’s -55.1. Retail activity was worst at -45.3. Also,

<p>RBA Governor Philip Lowe said that the economy could be “better than the baseline” scenario as forecast earlier this month. RBA projected that GDP could contract by -6% this year with unemployment rise to 9%. “With the national health outcomes better than earlier feared, it is possible that the economic downturn will not

<p>Fed’s Beige Book economic report noted that “economic activity declined in all districts – falling sharply in most – reflecting disruptions associated with the COVID-19 pandemic.” Although many contacts expressed hope that overall activity would pick-up as businesses reopened, “the outlook remained highly uncertain