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Cable nears a test of the key 200-day moving average

GBP/USD gains by 0.5% as the dollar slips to start the session For bank trade ideas, check out eFX Plus As cable pushes gains on the day, it is nearing a test of the 200-day MA (blue line) @ 1.2678 once again. This has been the level that limited its upside move back in April and will
Jun 5, 2020 Read more

Dollar on the back foot as positive risk vibes continue to reverberate

The dollar slips to start European morning trade For bank trade ideas, check out eFX Plus European and US stock futures are pushing higher and that is feeding to the more positive risk vibes in the market as we look to get things going on the session.
Jun 5, 2020 Read more

Eurostoxx futures +1.3% in early European trading

Positive risk vibes observed in early trades - German DAX futures +1.2% - UK FTSE futures +0.9% - Spanish IBEX futures +1.5% For bank trade ideas, check out eFX Plus
Jun 5, 2020 Read more

Nikkei 225 close higher by 0.74% at 22,863.73

Asian equities in a better mood in the closing stages Elsewhere, the Hang Seng is up by 0.7% while the Shanghai Composite is at flat levels but off earlier lows. On the week, the Nikkei is up by over 4% with the Hang Seng gaining by nearly 7% and the Shanghai Composite holding gains of just
Jun 5, 2020 Read more

Germany April factory orders -25.8% vs -19.9% m/m expected

Latest data released by Destatis - 5 June 2020 - -15.6%; revised to -15.0% - Factory orders WDA -36.6% vs -29.7% y/y expected - Prior -16.0%; revised to -15.4% For bank trade ideas, check out eFX Plus
Jun 5, 2020 Read more

Japan, Australia set to discuss easing border restrictions

The restart of international travel is slowly but surely getting underway he is very much in favour of a safe travel bubble with New Zealand If anything, this continues to feed the positive narrative that countries are progressing towards more normal conditions - provided that it doesn't spur an uptick in virus activity.
Jun 5, 2020 Read more

OPEC+ meeting said to be scheduled for 6 June

Bloomberg with the headline, citing OPEC delegates on the matter here For bank trade ideas, check out eFX Plus As mentioned then, it would be foolish for them to risk the recovery in oil prices based on this compliance issue - which has been ongoing in all iterations of OPEC/OPEC+ deals.
Jun 5, 2020 Read more

Trade ideas thread - European session 5 June 2020

Daily thread to exchange ideas and to share your thoughts That said, most major currencies are still trading rather narrowly with the dollar a tad softer but nothing too overwhelming. The euro continues to look perky on a breakout following the ECB policy decision to expand its PEPP stimulus by €600 billion yesterday.
Jun 5, 2020 Read more

Germany's Altmaier: It would be negligent to start discussions this year or next on raising taxes

Comments by German economy minister, Peter Altmaier, in an interview - Also too early to discuss about reducing state benefits - Expects tough negotiations on EU recovery fund As much as the stimulus measures have helped to limit the economic carnage from the coronavirus crisis, someone has to be paying for it at the end of the day.
Jun 5, 2020 Read more

Germany Ifo institute says 50% of reported companies in May have postponed investments

The decision to do so is due to the coronavirus impact Overall business conditions right now are certainly subdued and consumption activity is going to take a while to return, so a majority of firms will surely find it tough to expand activities or invest further during this period.
Jun 5, 2020 Read more

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