Blogs

A look at the key focus areas in the market today I've covered the in some detail the last two days and this time around it was down to BoE Gov Bailey to focus on the debate.

<p>US retail sales dropped a record -16.4% mom in April to USD 403.9B, worse than expectation of -10.0% mom. That’s also nearly double the -8.3% drop in March, which was the prior worst reading since 1992. Ex-auto sales dropped -17.2% mom, much worse than expectation of -8.6% mom. Ex-gasoline sales dropped -15.5% mom. Ex-auto, ex-gasoli

<p>UK Brexit chief Brexit negotiator David Frost said “very limited progress” were made on the “most significant outstanding issues” with EU after completing the latest round of negotiations. He further warned that if EU persists in its “novel and unbalanced proposals on the so-called level playing field,” 

<p>Germany’s GDP shrank -2.2% qoq in Q1, slightly worse than expectation of -2.0% qoq, worst in more than a decade. Also, as Q4’s figure was revised down to -0.1% qoq, the country was already in a technical recession with two straight quarters of contraction. The contraction is expected to accelerate in Q2, with economists forecas

<p>Eurozone GDP contracted -3.8% qoq in Q1. EU GDP contracted -3.3% qoq. Both are worst declines since the series started in 1995. Annually Eurozone GDP contracted -3.2% yoy while EU GDP contracted -2.6% yoy, both were worst since Q3 2009. Employment in dropped -0.2% qoq in both Eurozone and EU, worst declines since 2013. Full […]

<p>Dollar weakens notably in early US session after retail sales data showed another record decline in April. Stock futures also tumble after the news In particular, gold rides on the greenback’s selloff and it’s set to resume larger up trend. . Nevertheless, for the day, New Zealand, Australian Dollar and Sterling remain the wors

<p>Traders trimmed bets on crude oil futures. Although output cuts by OPEC+ and in the US have temporarily relieved storage, the outlook of the oil market remains uncertain. Macroeconomic data from major economies suggest that unemployment is rising. This could lead to demand disruption, and eventually cause selloff in oil prices. NET LENGTH

<p>As suggested in the CFTC Commitments of Traders report in the week ended May 12, NET LENGTH in USD Index added +25 contracts to 16 450. Speculative long positions dropped -757 contracts and short positions were down -782 contracts. Concerning European currencies, NET LENGTH in EUR futures gained +1 841 contracts to 78 140. NET […]

<p>Executive Summary The United Kingdom is the latest major economy to report the negative effects of COVID-19 on economic activity. Q1 GDP fell 2% quarter-over-quarter, with weakness in the services and industrial sector. In addition, March monthly GDP was very soft, falling 5.9% month-overmonth, largely guaranteeing another sizable contract

<p>U.S. Review Aggregate Demand Takes a Big Hit from the Shutdowns Retail sales plummeted 16.4% in April, following an 8.3% drop the prior month. Industrial production fell 11.2% in April, with huge declines in consumer goods, business equipment and mining. With demand eviscerated, inflation has eased. The Consumer Price Index fell 0.8% in Ap