Blogs

Ivey purchasing managers index – prior month 26.0 – Ivey purchasing managers index for April came in at 22.8 versus 26.0 last month. This is a new record for the index The index can be quite volatile but given the environment, clearly businesses are cautious and that leads to the sharp fall in the survey.

Remember NASDAQ index goes unchanged at 8972.60 US stocks are set to open higher but off the premarket peaks. The NASDAQ index is expected to open up around +113 points. The index closed at 8854. Adding 100 points would take the index up to 8967. That is close to the end of year closing level […]

US nonfarm productivity and unit labor costs for Q1 2020 – nonfarm productivity for 1st quarter preliminary -2.5% versus -5.5% estimate. Last month 1.2% – unit labor costs for 1st quarter preliminary for .8% versus 4.5% estimate. Last month 0.9% See here for global coronavirus case data

Initial jobless claims and continuing claims – initial jobless claims 3169K versus 3000K estimate. Prior week revised to 3846K vs 3839K previously reported  

US unit labor costs and productivity for 1st quarter. Ivey purchasing managers index Fed speakers today include Fed's Bostic at 8:30 AM ET. He has spoken over the last 2 days so can imagine anything different from what he has already said. ECB's Lagarde participates in a Bloomberg webinar at 10 AM ET/1400 GMT.  Fed'

Forex news from the European trading session – 7 May 2020 Headlines: Markets: – AUD leads, JPY lags on the day – European equities higher; E-minis up 1.4% – US 10-year yields flat at 0.70% The session kicked off with more tepid tones but risk started to push higher after the BOE kept policy unchanged […]

A total of 671,129 job cuts were announced last month March Pretty much all sectors were hit hard because of business shutdowns but entertainment/leisure led the way. Here's the breakdown of the situation sorted by industry:

Oil continues its monstrous recovery to above $26 currently See here for global coronavirus case data Despite the surge higher over the past week, there are still lingering doubts about the oil outlook even as we are seeing major economies start to reopen.

Further comments by EU trade commissioner, Phil Hogan – No sign of UK approaching Brexit talks with a plan – UK operating on basis that transition phase won't be extended Pretty much the same old, same old. As negotiations get run into the ground, the finger-pointing game begins. Let's see if the end game is […]

Comments by EU trade commissioner, Phil Hogan