The Nikkei closes near flat levels on the day The Shanghai Composite is flat on the day but has recovered off earlier lows. Meanwhile, US futures are down by about 0.1% as we begin the European morning.
Blogs
Trade ideas thread – European session 28 April 2020
Daily thread to exchange ideas and to share your thoughts The kiwi is weighed lower after Westpac forecast negative rates by the RBNZ for later this year, possibly setting off expectations for rates to price that in following comments by RBNZ governor Orr last week about the matter and on direct debt monetisation.
Germany sees daily increase of 1,144 coronavirus cases, total confirmed cases at 156,337
RKI with their latest update on the coronavirus situation in Germany See here for global coronavirus case data The good news is that the daily count is moderating further at lower levels, with the jump relative to the total being less than 1% for a second straight day. Of the 156,337 total confirmed cases, an […]
China's Global Times editor says Trump has committed crime, has superb lying skills
Editor-in-chief of Chinese and English editions of the Global Times Hu Xijin is known for his forthright opinions. His latest tweet directed as US President Trump::
ForexLive Asia FX news wrap: NZD drops on negative rates forecasts
Forex news for Asia trading Tuesday 28 April 2020 – – here is why The New Zealand dollar was a mover during the session here today, the immediate catalyst being a note from Westpac forecasting the Reserve Bank of New Zealand will be moving to an Official Cash Rate of negative 0.5% in November this […]
South Korea's unification minister says knows where Kim Jong Un is
And that's pretty much it – no further details. Info via Bloomberg a little earlier. See here for global coronavirus case data
China analysts said unemployment at 20% (vs,. officially at 5.9%) – withdraws their report
A report written by a group of three analysts from Zhongtai Securities put job losses around 70 million people due to the economic fallout from the coronavirus pandemic
China Gold Association says gold consumption in the country fell 48.2% y/y in Q1
China's gold consumption – buying of gold jewellery, gold bars & coins etc., down in the first quarter of the year. Hardly surprising given the widespread shut downs after lunar new year
NZD extending its fall further, China stocks down, oil too
I posted on the oil drop here: Oil is getting sold heavily And the kiwi I posted on earlier also. A further drop in the NZD is taking AUD with it lower alos.
Oil is getting sold heavily
Oil (WTI CL contracts) trade on Globex is heavy indeed – front contract on approach to $11.00 … OK, makes liar out me, under $11 now The background to weak oil prices is the demand destruction from the lockdown imposesd globally to counter the coronavirus outbreak, storage rapidly filling up and production being cut but […]