Forex news from the European trading session – 27 May 2020 Headlines: Markets: – EUR leads, CHF lags on the day – European equities higher; E-minis up 1.4%
Blogs
Trump threatens to regulate or close down social media platforms due to political bias
A tweet by US president Trump "Republicans feel that Social Media Platforms totally silence conservatives voices. We will strongly regulate, or close them down, before we can ever allow this to happen. We saw what they attempted to do, and failed, in 2016. We can't let a more sophisticated version of that happen again. Just l
US MBA mortgage applications w.e. 22 May +2.7% vs -2.6% prior
Latest data from the Mortgage Bankers Association for the week ending 22 May 2020 – Prior -2.6% See here for global coronavirus case data As seen with the yesterday, this isn't exactly your typical economic downturn and there is more evidence of that here. Purchases have basically recovered completely from the coronavirus crisis drop to
Wilbur Ross: There is a 'whole menu' of potential options for Trump on China action
Comments by US commerce secretary, Wilbur Ross – The China situation is 'very complex' – Should not prejudge the next move from Trump or China See here for global coronavirus case data
EU jumps on EU commission increasing EU recovery fund size
EURUSD jumps, but caution advised Looking to trade EURUSD? to learn more. Checkout ForexSource.co
Italy reportedly will get €82 billion in grants under EU proposal – official
Bloomberg with the headline, citing an EU official on the matter – Spain to be granted €77 billion in grants – France to be granted €39 billion in grants See here for global coronavirus case data
Risk buoyed by compromise and bigger size of EU recovery fund proposal
S&P 500 futures suggest that the cash market will have another shot to firmly break above the 200-day moving average and the 3,000 level See here for global coronavirus case data
The Chinese yuan is on the brink of a major break
Yuan threatens long-term low USD/CNH today matched the September high at precisely 7.1965. Given the dynamic with China re-opening, you would expect the yuan to be stronger but it's not. The latest leg is no-doubt related to Hong Kong and potential sanctions and that's partly natural but it could also be China sending a warning […]
S&P 500 rises back above the 200-dma but stalls at yesterday's high
What's moving the market The S&P 500 is a bit softer shortly after the open than anticipated. The index matched yesterday's high of 3021 but the peeled back to 3014.
AUD/USD goes in search of a more bullish break on more positive risk appetite
AUD/USD looks to hold a break above its 200-day moving average See here for global coronavirus case data The aussie is up by 0.3% against the dollar currently, trading to a high of 0.6680 moments ago – the highest level since 9 March – as risk trades are more buoyed on hopes of a compromise […]