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UK's Sunak: I've always been clear that we cannot protect every job

UK finance minister, Rishi Sunak, comments on the jobs report earlier Well, the jobs report doesn't really tell us much of anything new. Jobless claims picked up again in July as employment conditions worsened but unemployment isn't deteriorating markedly considering the help by the government's furlough program.
Aug 11, 2020 Read more

Gold correction deepens in fall below $2,000

Gold falls by 1.7% and back below the $2,000 mark More to come..
Aug 11, 2020 Read more

Gold can be bolstered by fresh jewellery demand

Recovery from India and China's markets   The demand for gold from India has risen by around 25% y/y on July and almost double from June's levels as lockdowns start to ease to fight COVId-19. Any pent up demand could further realise as the peak season is still to come later this year.  
Aug 11, 2020 Read more

Eurostoxx futures +1.1% in early European trading

Risk-on vibes observed in early trades Positive tones as we look to get the session underway and that is helping to keep the likes of the aussie and kiwi underpinned. The mood here is largely a reflection of that from Asian trading, with US futures also slightly firmer for now.
Aug 11, 2020 Read more

Nikkei 225 closes higher by 1.88% at 22,750.24

Asian equities rise following Wall Street gains overnight Japanese stocks returned from the holiday break with solid gains, as Asian equities follow the gains from Wall Street overnight. The Hang Seng is up by 2.4% while the Shanghai Composite is up by 0.4% as we look towards the closing stages.
Aug 11, 2020 Read more

UK July jobless claims change 94.4k vs -28.1k prior

Latest data released by ONS - 11 August 2020 Slight delay in the release by the source.
Aug 11, 2020 Read more

Trade ideas thread - European session 11 August 2020

Daily thread to exchange ideas and to share your thoughts That is feeding to more optimism among Asian equities today as the market continues to try and digest Trump's executive order on unemployment benefits.
Aug 11, 2020 Read more

Japan July economy watchers survey current conditions 41.1 vs 40.0 expected

Latest data released by the Japanese Cabinet Office - 11 August 2020 The positive takeaway is that service sector and economic sentiment improved further in July but the outlook has deteriorated  markedly amid the escalating virus situation. That will remain a key consideration that could dampen hopes of a sustained recovery.
Aug 11, 2020 Read more

Hong Kong goods to be labelled 'Made in China' for export to the US after 25 September - report

SCMP reports on the matter The report cites a draft US government notice, as to saying that goods made in Hong Kong for export to the US will have to be labelled as 'Made in China' after 25 September.
Aug 11, 2020 Read more

Economic data coming up in the European session

UK jobs data on the agenda today The market is keeping more cheerful after some mixed tones early yesterday, before US stocks turned things around to close higher - Nasdaq missed out, but closed the day off the lows at least. Meanwhile, 10-year Treasury yields are now up to 0.58%.
Aug 11, 2020 Read more

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