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New Zealand reports first local coronavirus cases in 102 days; virus restrictions return

New Zealand reports four confirmed cases in one family, with the source of the infection in said cases unknown If anything else, this will just mean that NZ will surely keep international borders closed for longer. And that will limit the economic recovery in general considering how heavily the country relies on its tourism sector to
Aug 11, 2020 Read more

German ZEW survey data highlights a broader longer-term theme for markets to consider

Will the economic recovery eventually live up to the hype? One of the above charts is not a "V". And therein lies a potential longer-term problem that market participants will have to consider down the road.
Aug 11, 2020 Read more

Germany August ZEW survey current situation -81.3 vs -69.5 expected

Latest data released by ZEW - 11 August 2020 Despite another jump in the expectations component, it is once again perhaps a case of survey respondents hoping for the better but the underlying economic situation is failing to live up to that perception in the second-half of the year.
Aug 11, 2020 Read more

Russia president Putin says have approved first Russian-produced coronavirus vaccine

Putin says that his daughter has been vaccinated from the coronavirus - Says that Russian health ministry has approved coronavirus vaccine developed by Moscow's Gamaleya Institute Take what you will and believe what you want from the headlines above, but this may lay the groundwork for other countries to start prepping their own "breakthroughs" sooner rather than
Aug 11, 2020 Read more

China July M2 money supply +10.7% vs +11.2% y/y expected

Latest Chinese credit data for July has been released - 11 August 2020 - New yuan loans ¥992.7 bn vs ¥1,200.0 bn expected - Aggregate financing ¥1,690.0 bn vs ¥1,850.0 bn expected Broad money growth eases a little compared to estimates and the previous level seen in June - relative to a year ago - but it is tough to read much
Aug 11, 2020 Read more

Equities keep higher to start the session, will it last through the day?

Hopeful optimism reigns for the time being European indices are hovering near 2% gains on the session now with US futures also creeping a little higher in the past hour, as S&P 500 futures are now up ~0.4%.
Aug 11, 2020 Read more

USD/CAD keeps lower to start the week but key near-term levels still at play

USD/CAD drop today defended by the 100-hour moving average again The pair is keeping lower after the drop yesterday saw price action break back below its 200-hour MA (blue line). Sellers defended that level in early trades today before moving on to retest the 100-hour MA (red line) around 1.3225 earlier.
Aug 11, 2020 Read more

AUD/USD a little higher on the day but battle for near-term control rages on

AUD/USD is a tad higher to start the session but buyers and sellers continue to duke it out for near-term control The high today touched 0.7186 and ran into resistance from the Friday high - also keeping under the 100-hour MA (red line) @ 0.7187 - and that saw the pair retreat a little to 0.7160
Aug 11, 2020 Read more

European equities open higher to start the day

But gains have been trimmed a tad bit compared to futures trading earlier - Eurostoxx +0.8% - Germany DAX +0.9% - France CAC 40 +0.8% - UK FTSE +0.8% - Spain IBEX +0.9% The risk mood is still slightly tilted in favour of the optimists to start the session but less so as compared to the end of Asia Pacific trading
Aug 11, 2020 Read more

Early optimism slightly tempered with to start European morning trade

The positive tones abate ahead of the European cash market open Chinese stocks have erased gains and are down by 1% going into the final few minutes while Treasury yields are also a touch lower now - 10-year yields down 0.5 bps to 0.57%.
Aug 11, 2020 Read more

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