RBA expected to leave its cash rate unchanged As such, it should be a relative non-event but best to keep an eye out. Some previews:
Blogs
ForexLive Asia FX news wrap: RBA announcement due soon
Forex news for Asia trading Tuesday 5th May 2020 Due at 0430GMT: The USD weakened just a little on the session here today, with equities trading firmer and oil also.
Australian Treasurer Frydenberg says support already provided will be enough
Adds though: – will continue to do what is necessary to support the eco9nomy See here for global coronavirus case data
Goldman Sachs raises its 2021 oil price forecast to above $51 / barrel
Goldman Sachs is not expecting oil prices to jump too much in coming weeks But out to next year it remains bullish, sees a gradual recovery in oil demand globally and OPEC+ production cuts, shut-ins elsewhere
ANZ Bank drop their Fonterra milk price forecast to NZ$5.75 (from $6.45)
ANZ's Fonterra 2020-21 season milk price projection NZD 5.75/kg milksolids – 2019-20 unchanged at $7.15 Citing: – significant deterioration in economic conditions in most parts of the globe Info via Bloomberg
Goldman Sachs says the global economy has likely bottomed – coronavirus lockdown efforts working
Via a GS note on Monday in the US: – thinks economic activity has likely bottomed – lockdowns & social-distancing restrictions are beginning to be wound back across the globe —
Australian weekly jobs data, employment -7.5%
Weekly Payroll Jobs and Wages in Australia estimates – between 14 March and 18 April (the five weeks after Australia recorded its 100th confirmed COVID-19 case) , while . The 7.5% decline equates to around 975,000 jobs lost. This is an enormous toll, and its the case all around the globe where tight restrictions have […]
NZ PM Ardern speaking after NZ has a 2nd day in a row of no new coronavirus cases
Prime Minister Ardern will attend (via teleconference) Australia's National Cabinet meeting today. on Friday this week A travel 'bubble' between NZ and Aus will be a hot topic.
New Zealand – ANZ Commodity Price index for April: -1.1% m/m (prior -2.1%)
This indicator tracks the prices for NZ's main exports, down for the 5th month in a row – Prices for meat and dairy declined . – In local currency terms the index fell 0.6% due to the weaker NZD (kiwi $ was down
Dollar catches a bid on the session
The greenback and yen are moving higher in European morning trade See here for global coronavirus case data The dollar is gaining across the board, with cable slumping to fresh lows on the day of 1.2424 with the euro also slumping to fresh session lows of 1.0859 after the German court ruling on the ECB […]