OPEC+ endorses one-month extension
OPEC+ agreed today to extend record oil production until the end of July.
Iraq had been holding up the deal but agreed to make up for overproduction in the previous period. Nigeria agreed to a similar proposal.

UK Chancellor Sunak
The London Financial Times is reporting that UK Chancellor of the Exchequer Sunak  is reportedly delaying is stimulus plan until the autumn.  The expectations for an emergency sellers budget have been lowered.  

US consumer credit for the month of April 2020
I guess people spend a lot going out for dinner and a movie….
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Forex futures positioning data for the week ending May 26, 2020
– EUR long 81K vs 75K long last week. Longs increased by 6K
– GBP short 36K vs 22K short last week. Shorts increased by 14K
Highlights:

Dow, S&P best week in 2 months
The major US stock indices closed sharply higher after the much better-than-expected employment report. 
For the week, rotation into to Dow stocks was the storyline.

Forex news for North American trade June 5, 2020:
Markets:
The mode in the market has been slowly flipping from fear to greed and a shock jump in US employment sent it into overdrive. USD/JPY jumped to 109.75 from 109.25 on the headlines and it stuck around there most of the day.

Forex news from the European trading session – 5 June 2020
Headlines:
Markets:
– NZD leads, CHF lags on the day
– European equities higher; E-minis up 1.0%

Bloomberg reports, citing OPEC+ delegates on the matter
– All OPEC+ nations have agreed to comply with quotas
– OPEC+ nations that didn’t meet quotas previously, will compensate in July to Sept
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Europe set to reopen its borders to the world just in time for the summer
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Further comments by Barnier
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