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<p>Australia AiG Construction Index dropped to 37.9 in March, down from 42.7. That’s the lowest level since May 2013. Across the four construction sectors, the house building sector indicated modest growth for a fourth consecutive month (trend). Contractions in the apartment and commercial construction sectors were steeper (a lower inde

<p>China Caixin PMI Services recovered to 43.0 in March, up from 26.5. PMI Composite rose from 27.5 to 46.7, second lowest reading in 11 years. Caixin said that business activity and new work both declined at slower rates, but employment fell at quickest pace on record. Output charges also cut at fastest rate since April […]

<p>Japan PMI Services dropped to 33.8 in March, down from 46.8. The index was close to record low seen in February 2009 (33.7). PMI Composite dropped to 36.2, down from 47.0. Markit said that output fell at near record pace as coronavirus pandemic hits demand. Employment declined as operating requirements slumped. Also, business activity was

<p>Japan Economy Minister Yasutoshi Nishimura said that the government is targeting to decide on the coronavirus economic response package in the early half of next week. He added that Prime Minister Shinzo Abe gave him the instruction to compile the measures in 10 days on March 28. Separately, Finance Minister Taro Aso noted that the governm

<p>Both oil price and stocks rebound strongly after US President Donald Trump said Saudi Arabia and Russia will be “cutting back approimately 10 Million Barrels” of oil production to ease pressure on price. Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect &

<p>US initial jobless claims jumped 3341k to 6648k in the week ending March 28, making another historical high. Four-week moving average of initial claims rose 1608k to 2612k. Continuing claims rose 1.245m to 3.029m in the week ending March 21. That’s the highest level since July 6, 2013. Four-week moving average of continuing claims ro

<p>Eurozone PPI came in at -0.6% mom, -1.3% yoy in February, versus expectation of -0.1% mom, -0.6% yoy. Looking at some details, energy decreased -2.3% mom, intermediate goods dropped -0.2% mom. Capital goods rose 0.1% mom. Durable and non-durable consumer goods rose 0.2% mom. EU PPI came in at 0.6% mom, -1.0% yoy. The largest […]

<p>EU&#8217;s Commissioner for Economy Paolo Gentiloni warned that each month of lockdown in Italy would cause a -3% annualized GDP decline. But for now, there is no discussion on an Italian bailout. Confirmed coronavirus cases in Italy surged pass 110k this week while death tolls broke 13k. There is tentative signs of slowing after rigor

<p>Dollar is currently trading as the strongest one for the week, followed by Yen. On the other hand, Euro and Swiss Franc are both the weakest ones for now. Overall sentiments in the market are mildly risk averse but there is no committed move. Oil price was given a lift overnight after US President Donald […]

<p>It seems that the markets are not having a clue on what to do next. While US initial jobless claims doubled to 6.6m, reactions are rather muted. DOW futures are staying positive for now, while European indices are mixed. Dollar seems to be picking up some buying after the release, but gold also trades firmer. […]