This is the spot to watch in case of any further ECB intervention See here for global coronavirus case data 10-year BTP yields are around 2.19% to start the day, after having broken back above the 2% level for the first time in a month yesterday.
Blogs
Eurostoxx futures +0.7% in early European trading
Slightly better mood in early trades – German DAX futures +0.7% – French CAC 40 futures +0.5% – UK FTSE futures +0.5% This largely reflects the mood in US futures, which raced higher by close to 0.8% moments ago before tailing off a little to around 0.5% gains now.
Nikkei 225 closes lower by 0.74% at 19,137.95
A softer day for Japanese stocks but not as bad as it could have been The Hang Seng is up by 0.2% while the Shanghai Composite is up by 0.4% currently, as S&P 500 futures gain by about 0.7% to session highs.
UK March CPI +1.5% vs +1.5% y/y expected
Latest data released by ONS – 22 April 2020 – +1.7% – Core CPI +1.6% vs +1.6% y/y expected – Prior +1.7% See here for global coronavirus case data Slight delay in the release by the source. As expected, inflation pressures keep weaker last month amid the drop in energy prices in recent weeks.
Trade ideas thread – European session 22 April 2020
Daily thread to exchange ideas and to share your thoughts US stocks suffered a beating yesterday and futures are more muted in trading so far today. Treasuries are also keeping slightly more bid, allowing the yen to keep a little firmer.
Oil extends losses ahead of European trading
No reprieve as WTI falls by 8% on the day See here for global coronavirus case data We're now into the June contract, putting behind us the historic horrors of the May contract but the trading rhythm remains the same. WTI is now down by 8% near $10.60 as we also see Brent oil fall […]
Germany sees slight increase in daily coronavirus cases, 2,237 new cases reported
RKI reports another 2,237 new cases in the update today See here for global coronavirus case data That brings the total number of cases to 145,694, with another 281 deaths reported bringing the total number of deaths to 4,879 persons. The daily case count still appears to be moderating but it is still better than […]
Australia says it will establish a strategic fuel reserve
Energy minister says will allocate 94 million AUD initially – Liaising with industry on establishing local oil storage – initial storage will be in the US Just gonna call this guy and tell him not to pay the offer, get on the bid!
Hong Kong oil ETF drops nearly 50% in a day
Samsung S&P GSCI Crude Oil ER Futures ETF has lost 45% in HK today – the biggest decline & to its the lowest level since trading began in May 2016 Samsung Asset Management (Hong Kong) manages the fund
NZ partial trade figures for Feb 1 to mid-April: Exports and imports both fall substantially
February 1 to April 15 provisional trade data – exports -5.1% y/y – imports -7.8% y/y With China, – exports to -14% y/y – imports from -16% y/y