Blogs

UK economic data released yesterday surprised to the upside but confirmed the massive negative impact of the Covid-19 pandemic.

The US dollar advanced for the second day in a row against the Russian ruble, adding 0.68 percent since the beginning of the week,

CNBC with the report citing two sources – White House will require certain essential drugs be made in the U.S. – There are a number of sectors of concern, WH saying national security issues prompting moves on drugs, medical supplies, semiconductors and defence equipment I posted earlier on semiconductor fabrication to come to the US:

Bank of America says they have become 'tactically bearish 'on stocks following the rally in the S&P 500 Note was distributed earlier this week, their 4 reasons:

U.S. Food and Drug Administration is alerting on early data that suggests potential inaccurate results from using the Abbott ID NOW point-of-care test to diagnose COVID-19. 

Whloesale prices lower again in Japan  -1.5% m/m  – expected -0.8%, prior -0.9% -2.3% y/y – expected -1.4%, prior -0.4% This is not CPI. But, as part of the release is the 'domestic final goods' price indicator which is -2.5% y/y. This loosely tracks the CPI.  

CNBC citing unnamed sources saying Trump favours further economic stimulus checks for coronavirus relief  The White House would likely support a new round of stimulus checks, sources told CNBC on Thursday.

Taiwan Semiconductor Manufacturing is to announce a plan to build an advanced chip factory in Arizona  – The firm is the largest contract manufacturer of silicon chips The announcement comes amidst US concern about dependence on Asia for the critical technology.

JPM add further that they prefer USD long: (bolding mine) and further advise: – looking for a stronger signal from equities to increase position sizes See here for global coronavirus case data

There was no PMI published for March from BusinessNZ April 2020 is a record low, the indicator had hit 36.1 in November 2008, during the Global Financial Crisis.