EUR/USD climbs to fresh highs on the day as the ECB boosts its PEPP stimulus by €600 billion to €1.35 trillion
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Forex news from the European morning session – 4 June 2020
Headlines:
Markets:
– CHF leads, AUD lags on the day
– European equities lower; E-minis down 0.6%
Latest data released by Challenger, Gray, and Christmas Inc – 4 June 2020
Couple this with the record total from April, US-based employers have pretty much announced at least 1 million job cuts related to the coronavirus pandemic and the report highlights that many of these jobs lost won’t return soon, if ever.
What to expect ahead of the ECB policy decision later?
The big question for the ECB later today is whether or not they are going to take a more proactive approach in addressing the needs and nervousness in the market amid the ongoing economic fallout from the coronavirus outbreak.
Apple (AAPL) stores in New York, Los Angeles, Philadelphia, Portland and Washington, D.C. have been amongst those broken into and robbed.
– report that looted iPhones have been disabled and that the company has begun tracking them
How to unlock a stolen iPhone – is there an app for that?
A snippet from CIBC on the Australian dollar
– Australian dollar pushed higher by „fear of missing out“ and stimuli from central banks
Says in an environment such as the current global environment AUD should not have been expected to do so well, but it has (CIBC says its alone in this category)
Its a busy week for GBP with Brexit trade talks underway (some sort of statement is expected Friday).
Earlier post on the negotiations:
Rolls-Royce, which makes jet engines, will cut 3,000 jobs across the UK
A stimulus package intended to support the home building sector
– AUD25K grant for new home building or homeowners renovations
– temporary scheme that will last until the end of the year
Trump in an interview (with Sean Spicer!) – earlier:
More now:
– has not thought about sanctions on China’s President Xi over Hong Kong
Meanwhile ex Defense Secretary Mattis has scathing remarks crossing, such as:
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