Well, sort of. After Wednesday's initial enthusiasm for the pharmaceutical company Gilead's COVID19 treatment, Remdesivir, the market returned back to risk off yesterday lunchtime. The ECB's actions, or rather lack of action, left investors selling European stocks. That negative sentiment shortly flowed through into the US cash open
Blogs
Nikkei 225 closes lower by 2.84% at 19,619.35
A rough day for Japanese stocks amid holidays elsewhere in Asia It is very much light trading on the day, with markets in China, Hong Kong, and Singapore among those that are closed. The same will apply to most parts of Europe with only London being the notable center that is open for business in […]
UK April Nationwide house prices +0.7% vs -0.3% m/m expected
Latest data released by UK Nationwide Building Society – 1 May 2020 – +0.8% – House prices +3.7% vs +2.5% y/y expected – Prior +3.0% See here for global coronavirus case data
Trade ideas thread – European session 1 May 2020
Daily thread to exchange ideas and to share your thoughts See here for global coronavirus case data US stocks retreated but still posted one of its best months ever in April trading, though the softer sentiment is still prevailing as we look to close out the week.
Australia PM Morrison says to bring forward consideration of relaxing restrictions to next Friday
Australia prime minister, Scott Morrison, speaks in Canberra – Now about 1.5 million people on jobseeker allowance – Overseas migration expectation to fall by about a third this year See here for global coronavirus case data
It is a holiday in most parts of Europe today
Liquidity conditions may be thinner as a result It's a public holiday across Europe in observance of Labour Day. See here for global coronavirus case data So, expect thinner liquidity conditions to prevail in the session ahead.
A revised gold forecast: To US$1820 by year end (prior $1580)
One for the gold traders, via Credit Agricole weekly note See here for global coronavirus case data
Malaysia to allow some resumption of economic activity – ease lockdown
Malaysia's PM announces partial easing of the country's coronavirus lockdown – From May 4 – Still wants no large gatherings and other precautions. See here for global coronavirus case data
Trump considers blocking a government fund from investing in Chinese equities considered a national security risk
carries the report, citing an unnamed "person familiar with the internal deliberations". Bloomberg – President is exploring blocking a government retirement fund from investing in Chinese equities considered a national security risk Offshore yuan losing ground:
Japan Motegi says will send antiviral Avigan to 43 nations for trials
Japan's Foreign Minister on the drug Japan is hopeful will work as a vaccine. Says each country will get enough for 20-100 people (for trials). Will begin to send the drug after Golden Week