Latest data released by Markit – 3 April 2020 – Prior 52.1 – Composite PMI 20.2 vs 25.0 expected – Prior 50.7 ForexLive That's an absolute stinker of a PMI reading as the services component falls to a record low, but again it is unsurprising considering the circumstances. The real fear is that April will […]
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Japan may declare state of emergency at 'any day' now – senior LDP official
The Nikkei reports on the matter ForexLive The official also adds that Japan has not been using its full capacity to test up to 9,000 persons a day because Japanese law requires anyone found to be positive to be hospitalised i.e. they are not testing because of limited medical capacity to cope.
Spain March services PMI 23.0 vs 25.8 expected
Latest data released by Markit – 3 April 2020 – Prior 52.1 – Composite PMI 26.7 vs 30.8 expected – Prior 51.8 ForexLive The services sector suffers a record fall in activity as Markit notes that many firms were either forced to temporarily close or struggled to conduct business amid the virus outbreak and related […]
European equities keep slightly lower to start the day
Slightly softer tones to start the session – Eurostoxx -0.4% – Germany DAX -0.5% – France CAC 40 -0.4% – UK FTSE -0.4% – Spain IBEX -0.2% ForexLive This somewhat mirrors the softer tone seen in US futures, which are down by about 1% as we begin European morning trade. Currencies are keeping more tepid […]
Morgan Stanley sees the US economy contracting by a record 38% in Q2
Morgan Stanley lowers their growth forecast for the US economy – Q1 growth forecast at -3.4% (previously -2.4%) – Q2 growth forecast at -38% (previously -30%) You can check out their initial reasoning and forecasts .
France says that will likely extend lockdown measures
French government spokeswoman, Sibeth Ndiaye, speaks on television – Not considering to loosen lockdown measures next week ForexLive Just a reminder that France had already announced last week that they will extend lockdown measures to 15 April but it looks like they are not going to let up on that and may lengthen the restrictive […]
What bargains are to be had in the current crisis?
Carnival Cruises to weather the storm, via Bloomberg The cruise line company, Carnival Cruise, is setting its coupon on its bond sale at 12%. It is also increasing the size of the bond sale to $4 billion. So, this means that if people are ever able to cruise again and Carnival Cruise can weather this […]
Eurostoxx futures -0.3% in early European trading
Mildly softer tones observed in early trades – German DAX futures -0.2% – French CAC 40 futures -0.4% – UK FTSE futures -0.4% ForexLive This continues to hint at more tepid tones in risk, after European equities posted mild gains in trading yesterday. With the weekend approaching, positioning play will become a factor once again [
Nikkei 225 closes flat at 17,820.19
Asian equities stumble towards the finish line this week With US futures also pointing lower to start the European morning, the Hang Seng and Shanghai Composite are also trading softer towards the closing stages. The former is down by 0.6% while the latter is also down by 0.6% currently.
Japan reportedly said to offer ¥300,000 handout to virus-hit households
NHK reports, citing LDP lawmaker Fumio Kishida This falls under the latest stimulus package by the government, with the timing of the handouts said to be some time in May based on an earlier last week.