Blogs

RKI vice president, Lars Schaade, warns that the coronavirus cannot be eradicated in Germany This seems like the government is looking to actively manage the virus situation as the country tries to establish a new normal – quite possibly for the next year at least.

This just reaffirms the resolve by Germany to move past the crisis numbers But as they conclude proceedings today, they are now saying that they won't be holding regular briefings to update on the coronavirus anymore.

Latest data released by Istat – 7 May 2020 – Prior +0.8%; revised to +0.9% – Retail sales -18.4% y/y – Prior +5.7%; revised to +6.1% Slight delay in the release by the source. Those are some awful numbers but it reflects the nationwide lockdown in Italy that started on 9 March, so there's that […]

Comments by Japan economy minister, Yasutoshi Nishimura confirmed See here for global coronavirus case data

Latest data released by Halifax – 7 May 2020 – 0.0% – House prices +2.6% y/y – Prior +3.0% See here for global coronavirus case data Slight delay in the release by the source. Halifax notes that housing market conditions are starting to ease with market activity grinding to a near standstill amid the limited […]

Down $0.44 or -2.27% The July contract is closing at $24.83. That's down $0.79, or -3.08% Saudi's Aramco raise its June light official selling price to Asia today which helps support the market.

Swing low tested earlier The EURUSD tested a lower swing area earlier in the day at the 1.07556-633 area.  Sellers could not push the price to and through the area. So sellers turned buyers and the price moved higher. 

Trend line support at the lows today and a move back above the 100 and 200 hour MA. The price of gold moved lower yesterday, and today, a lower low was made to start the day. However, that low stalled right at a lower trend line at $1675.88. The low for the day reached $1676. […]

USD moveing lower As the USD moves lower helped by lower yields/rising gold, the AUDUSD is certainly part of that move. The current bar has just broken above its 200 hour moving average at 0.64627 and 50% retracement at 0.64708. The price is also moved above the week's high from Tuesday at 0.64752.

Major indices are trading at session highs There are some rumblings at the move lower in yields is helping to support equities. The Fed will do anything to keep the economy going, and even inflate should there be a rebound (they are getting further behind on the inflation mandate of 2%).