Thursday is usually the busiest trading day of the week and today is no exception as several economic data releases are due. Here is your daily roundup.
API weekly crude oil stocks increased by 11.938 million during the week ending 3rd April, even more than the already high expectations, putting more pressure on OIL price that fell around 9% to 23.65$, helping to push down futures previous gains.
Monday saw quite the spectacular rally in global equities, led by US stocks. The DJ closed up more than 7% as the market reacted favourably to the apparent slowdown in new virus cases both in Europe as well as New York.
Today, the EU s finance minister will seek to endorse a list of measures worth more than half a trillion euros: the one who has gained broad support is using funds from ESM and offering credit lines worth 2% of the communitarian output.
The first Friday of a new month is usually one that garners much attention. The release of US Non-farm payroll data is probably the most-watched release of the month, acting as a barometer for the health of the US economy.
Yesterday, we celebrated Cyprus National Day and had a slight pause due to the public holiday. The markets, however, did not. A lot of things have happened since our last briefing.
A new month is upon us. March 2020 will for most of us be a month that saw the world change almost overnight. Our behaviours, our social interactions and our daily lives changed beyond all recognition. A simple trip to the supermarket now becomes fraught with danger and anxiety. And of course, financial markets have changed too.
To kick-off the week, PboC (Bank of China) announced a few hours ago a cut of its REPO INTEREST RATE by 20bps to 2.20% from 2.40% and injected 50 billion Yuan into the system for the first time in almost 1 month.
Yesterday, US Jobless Claims came in at an astonishing 3.283.000, the highest number in records for this 56-year old-time series, more than four times bigger than the previous high of 695k in Oct 1982 and – for statistic lovers – at about 30 standard deviation (get out of here you black swan!)
This morning, when I woke up and switched on my mobile to check in on the financial markets, as always, I had a big surprise: US futures were almost flat.