Blogs

<p>BoE Governor Andrew Bailey said in an interview with Daily Mail that there are a number of “bottleneck” in the system, so that not enough finance has gone through to small firms in the coronavirus crisis. Only around GBP 2B has been lent to companies under the Covid Business Interruption Loan scheme. He noted it’s [&helli

<p>BoE Chief Economist Andy Haldane said today that March contraction in the economy was probably enough to cause an overall GDP contraction in Q1. Further, Q2 is likely to bring a &#8220;very sharp contraction&#8221; too. He said that there are &#8220;real limits&#8221; to what public policy could do to offset the economic im

<p>Canada retail sales rose 0.3% mom to USD 52.2B in February, above expectation of 0.0% mom. That’s the first time sales grew for four months in a row since October 2018. Ex-auto sales was flat, also above expectation of -0.1% mom. Sales were up in 6 of 11 subsectors. Full release here.</p> <p>The post <a […]

<p>German ZEW Economic Sentiment jumped sharply by 77.7 pts to 28.2 in April. However, Current Situation index dived by -48.4 pts to -91.5. Eurozone ZEW Economic Sentiment rose 74.78 pts to 25.2. Eurozone Current Situation gauge dropped -45.4 pts to -93.9. ZEW President Achim Wambach said: “The financial market experts are beginning to

<p>European Commissioner for Internal Market and Services Thierry Breton said a package of EUR 1.6 trillion could be needed to help Europe’s economy recover from impact of coronavirus. That would represent some 10% of EU GDP. His top priority is to help small-and-medium businesses while a “Marshall plan” is required to help

<p>ECB Executive Board member Fabio Panetta criticized that Eurozone’s fiscal response to the coronavirus pandemic has been insufficient. He emphasized, “only if all economies act with the necessary force to contain the recession will the loss in output for the entire eurozone be minimized.” He warned, “any perception

<p>UK unemployment rate rose 0.1% to 4.0% in the three month to February, slightly above expectation of 3.9%. Employment rate rose 0.2% to a record high of 76.6% during the period. Wage growth slowed notably with average earnings including bonus decelerated to 2.8% 3moym down from 3.1%. Average earnings excluding bonus slowed to 2.9% 3moy [&h

<p>Dollar and yen are staying in the driving seats for the week so far, on risk aversion. After the historic horrors of the May WTI oil contract, the markets are now into June contract, which is down at around 10. Asian markets are trading generally down, following the US. In the currency markets, Dollar and […]

<p>Risk aversion stays in the markets today as WTI crude oil May future is back in negative territory above a brief stay above zero. Investors also turned cautious on news about critical health condition of North Korean leader Kim Jong-un. Yen and Dollar continue to trade as the strongest ones for today while Euro and […]

<p>Cable bounces from new two-week low (1.2247) in early European trading on Wednesday following previous day’s 1.3% fall, driven by risk aversion. Falling 30DMA contained Tuesday’s dip, guarding key supports at 1.2174/64 (Fibo 38.2% of 1.1409/1.2647/7 Apr low), with larger uptrend from 1.1409 (20 Mar low) expected to stay intact