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<p>In the summary of opinions of BoJ&#8217;s April 27 meeting, it&#8217;s warned that a &#8220;rapid economic contraction not seen since the Great Depression in the 1930s may occur in the short run&#8221;. And, policy authorities &#8220;must act decisively to avoid a second Great Depression&#8221;. Close cooperation be

<p>New Zealand ANZ Business Confidence rebounded from -66.6 to -45.6 in May’s preliminary reading. Own activity outlook rose from -55.1 to -42.0. Looking at some details, a net 45% of firms expect to cut jobs and a net 38% expect to reduce investment. A net 30% of firms expect lower capacity utilization. ANZ said: “As […]

<p>Minneapolis Fed President Neel Kashkari said on Sunday, economic recovery will likely to be “slow” and “gradual”. “The virus continues to spread. And when we look around the world, there is evidence that when countries relax their economic controls, the virus tends to flare back up again,” he said. ̶

<p>SNB Chairman Thomas Jordan said over the weekend that “we unfortunately have no choice but to maintain the negative interest rate”. Otherwise, the Swiss Franc would be “massively more attractive” and the financing condition for the economy would be “much worse”. He repeated that “the negative inter

<p>China’s central bank PBoC announced on Sunday to lower the standing lending facility rate by -30bps. Overnight, seven-day and one-month borrowing costs were lowered to 3.05%, 3.20% and 3.55% respectively. The move was a catch up to similar reductions in other liquidity tools as part of the coronavirus relief measures. PBoC also said

<p>Dollar is sold off notably in early US session after data showed record decline in core inflation reading. In the background, sentiments also improved mildly on WHO’s “potentially positive data” comments. Following Dollar, Canadian is the second weakest for the day, then Yen. On the other hand, New Zealand Dollar is the s

<p>Asian markets started with mild risk aversion today but sentiments quickly stabilized. Australian Dollar is pressured after China bans four of its abattoirs, but there is no follow through selling afterwards. While the Aussie is staying soft, it’s holding generally above yesterday’s low for the moment. Canadian Dollar is the se

<p>Dollar rebounds broadly today as investors turn cautious since European session. Fear of a second wave of coronavirus pandemic is cited by some as a reason for mild risk aversion. US-China tension is another factor named. For now, Swiss Franc is following as the second strongest, then Euro. On the other hand, New Zealand and […]

<p>Return to risk appetite is a main theme in the markets as another week starts. Another rate move by China’s PBoC support sentiments in general. Yen drops broadly as a result while Canadian and Australian Dollar strengthen. Though, New Zealand Dollar is somewhat under pressure ahead of this week’s RBNZ rate decision. Dollar is a

<p>Global stock markets somewhat strengthened last week as most countries continued with their coronavirus lockdown exit plan. Yet, with the exception of NASDAQ, major indices were capped below prior week’s high. Tensions between US and China remained a major focus. News flows on the topic were confusing. US Trade Representative issued