Nikkei with the report that biotech venture AnGes will ready production capacity for 1 million doses of COVID19 vaccines by March
They also say, and this is key (!):
China’s industrial profits fell in Q1 and started to be not so bad through March and April as the economy crawled toward recovery.
– May comes in at +6.0% y/y from -4.3% in April
Forex futures positioning data for the week ending June 24, 2020:
There were big moves in the euro and Australian dollar last week. It’s interesting to note that AUD was the best performer this week, so cutting shorts was the right move for specs.
Forex news for North American trade on June 26, 2020:
Markets:
– Gold up $6 to $1770
– US 10-year yield down 4.4 bps to 0.64%
– WTI crude down 50-cents to $38.22
The weight of coronavirus news because too much for the market to bear on Friday as officials backpedaled on the reopening in several US states and the
Stocks hit again
The S&P 500 touched a fresh session low at 3015 but only fractionally. The market has bounced from around these levels 3 times already and is trying to again.
This isn’t going well
That’s parts of three different states — Florida, Texas and California — all backpedaling today. Add in Arizona and that’s around 30% of GDP.
Kyodo News reports with the headline
reported
Relative to the US, this doesn’t seem like a big deal but it is all a matter of perception when viewing cases across different countries. For now, this isn’t prompting any major reaction by the government yet but let’s see how things go in the coming days/weeks.
Forex news from the European trading session – 26 June 2020
Headlines:
Markets:
– JPY leads, GBP lags on the day
– European equities higher; E-minis flat
– US 10-year yields down 1.5 bps to 0.67%
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