UK update from Health Minister Hancock There's lots of political spin on the number of tests hitting the target of 100,000. See here for global coronavirus case data
Blogs
AUD/USD falls to fresh session low as risk assets slide
Risk aversion continues to ramp Amazon, Tesla and some other high-flyers are under pressure. Amazon in particularly just fell below the late-April low. In terms of AUD/USD, it's been a good leading indicator for the broad risk trade and it's now down 1.4% in the second day of selling. It's easily fallen through support at […]
If you're looking for the European stock closes don't hold your breath
May 1 Labor Day holiday for all major countries sans the UK If you are looking for the European stock closes don't hold your breath. Today is May 1 Labor Day holiday in Europe. However the UK stock market is open and the FTSE 100 fell by -2.45%.
New York coronavirus deaths 289 vs 306 a day earlier
Comments from Governor Cuomo: NYC Mayor De Blasio: Re-opening the city is obviously a few months away. The falling number of deaths is great news but Cuomo notes that 1000 new people are still entering hospitals with the virus every day.
Gold turns higher as risk sentiment worsens
Gold up $9, reversing losses Gold is taking a fresh run at $1700 after falling below it yesterday. The precious metal fell as low as $1670 today but has rebounded to $1695.
Elon Musk: The TSLA stock price is too high in my opinion
Tweet from Elon Musk Shares of TSLA has fallen to $745 from $760 in the past few minutes. He's a strange man and it's possible his twitter was hacked because his tweet moments before that one was also strange:
US construction spending for March +0.9% versus -3.5% estimate
US construction spending for March 2020 US construction spending for the month of March rose by 0.9%. That was much better than the -3.5% estimate. – Construction spending +0.9% versus -3.5% estimate. Residential 2.3%. Nonresidential -0.1% Much better-than-expected numbers but the revision to the February number did take some of the surprise
US April ISM manufacturing 41.5 vs 36.0 expected
April 2020 ISM manufacturing index: This is a significant beat and it's helped risk assets. USD/JPY is higher now but the rally came before the data. Comments in the report:
US final April Markit PMI 36.1 vs 36.7 expected
US manufacturing survey from Markit for April 2020: See here for global coronavirus case data
Canada April Markit manufacturing PMI 33.0 vs 46.1 prior
Canada Markit April PMI Commenting on the PMI data, Tim Moore, Economics Director at IHS Markit said: "Canadian manufacturers unsurprisingly recorded a survey-record drop in output during April as the COVID-19 pandemic led to either complete factory shutdowns or