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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

Japan April preliminary leading indicator index 76.2 vs 76.3 expected

Latest data released by the Japanese Cabinet Office - 5 June 2020 - 84.7 - Coincident index 81.5 vs 82.7 expected - Prior 90.2 For bank trade ideas, check out eFX Plus
Jun 5, 2020 Read more

AUD/USD stays on track for a move towards 0.7000

AUD/USD is a little higher going into European trading For bank trade ideas, check out eFX Plus Amid the pullback in equities yesterday and some mild strength in the dollar from time to time over the past few sessions, the pair looked like it may be on course for a correction but buyers still managed to squeeze
Jun 5, 2020 Read more

Economic data coming up in the European session

Little of note in the countdown to the US non-farm payrolls release Major currencies are trading more tepidly on the session, trapped in narrow ranges as the market starts to keep the focus on the US jobs report later today.
Jun 5, 2020 Read more

ECB's de Cos says that rising risk of deflation warranted more stimulus

ECB governing council member, Pablo Hernandez de Cos, remarks - Capital key is not a constraint in the short-run For bank trade ideas, check out eFX Plus He is referring to the added PEPP stimulus yesterday, which certainly gave the euro a good boost higher in overnight trading with the ECB for once looking like they were actually
Jun 5, 2020 Read more

HK fin sec Chan says China ready to defend HK dollar peg system

Hong Kong Financial Secretary Chan comments: Bolding mine above.  For bank trade ideas, check out eFX Plus
Jun 5, 2020 Read more

Nerves now on the EUR rally persisting

Bloomberg have collated a few nervous comments from analyst on the EUR/USD rally. - says at 9 days of gains up its the longest rally in nearly 10 years - reached an almost three-month high But now:
Jun 5, 2020 Read more

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