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<p>Eurozone PMI Manufacturing dropped to 33.6 in April, down from 44.5, a 134-month low. PMI Services dropped to 11.7, down from 26.4, a record low. PMI Composite dropped to 13.5, down from 29.7, also a record low. Chris Williamson, Chief Business Economist at IHS Markit said: “April saw unprecedented damage to the eurozone economy amid

<p>Germany PMI Manufacturing dropped to 34.4 in April, down from 45.4, a 133-month low. PMI services dropped to 15.9, down from 31.7, record low. PMI Composite dropped to 17.1, down from 35.0, also a record low. Phil Smith, Principal Economist at IHS Markit said: “The headline PMI’s reading of 17.1 paints a shocking picture of [&h

<p>France PMI Manufacturing dropped to 31.5 in April, down from 43.2. PMI Services dropped to 10.4, down from 27.4. PMI Composite dropped to 11.2, down from 28.9. All are record lows. Eliot Kerr, Economist at IHS Markit said: “Going forward, there are two key areas of focus. Firstly, how quickly will measures be lifted as […]

<p>Germany Gfk consumer sentiment for May dropped to a historic low of -23.7, down from April’s 2.3. Economic expectations dropped further from -19.2 to -21.4. That was slightly better than the lowest reading of -26 recorded in May 2009. Income expectations, on the other hand, plunged from 27.8 to -19.3. A higher monthly loss in [&helli

<p>Japan PMI Manufacturing dropped from 44.8 to 43.7 in April, biggest contraction in 2009. PMI Services dropped from 33.8 to 22.8, worst contraction since survey began in 2007. PMI Composite dropped from 36.2 to 27.8. Joe Hayes, Economist at IHS Markit, said: “The crippling economic impact from global coronavirus pandemic intensified i

<p>Australia CBA PMI Manufacturing dropped fro 49.7 to 45.6 in April. Manufacturing output decreased for the eighth successive month in April, and to the greatest extent since the survey began in May 2016. PMI Services dropped from 38.5 to 19.5. Company shutdowns and coronavirus restrictions resulted in severe declines in both business activi

<p>Singapore’s Trade and Industry minister Chan Chun Sing said today that, the country is “very likely” to see a sharper contraction in the economy due to coronavirus pandemic. He said, “we are really concerned that worldwide, this is going to lead to a more serious problem than many had anticipated just a month ago

<p>Directions in the markets are relatively unclear for now. US stocks closed higher overnight, but relatively close to opens. Asian markets are mixed with slight gains in Nikkei and HSI. WTI crude oil seems to be stabilizing above 10 handle after horror actions earlier. In the currency markets, Dollar remains the strongest one for the [&hell

<p>WTI crude oil for May delivery expired at US$10.01/bbl on Wednesday, following a collapse to the negative territory a day earlier. The June contract (front-month) settled at US$ 13.78/bbl on the day. Lack of storage remains a problem in the US as demand has been sharply lowered due to the coronavirus pandemic. It is reported […]

<p>Canadian dollar has only edged lower amidst the recent collapse in crude oil price. This is not usual given the strong correlation between the loonie and oil price, as well as the contribution of the energy sector to the country’s economy. We believe the FX market has not fully reacted to the recent selloff in […]