Market Pulse - Currencies
Chicago PMI slides past forecasts in April
A key manufacturing sector gauge for the Chicago area fell more sharply than expected in April, plumbing its lowest level since the trough of the Great Financial Crisis in March 2009.
ECB ready to increase emergency bond buying programme, use all tools
The European Central Bank kept the door open to ramping up its emergency bond purchase programme, all its policy tools in fact.
Initial weekly US jobless claims continue to soar
The US jobs market continued to deteriorate at a rapid pace during the last week for which data were available.
ECB eases rates on TLTROs, will support money markets
Rate-setters in the euro area unexpectedly eased their policy settings further at Thursday's meeting but did not expressly reiterate in its policy statement that its pandemic emergency bond purchase programme, known by the acronym PEPP, might be further increased in size.
AstraZeneca, Oxford University team up to develop Covid-19 vaccine
Pharma giant AstraZeneca said it had teamed up with the University of Oxford to develop and distribute a potential coronavirus vaccine with the first results from clinical trials set to arrive over the next few months.
Fed acknowledges medium-term risks to economy from Covid-19 crisis
Americans can rest assured that the Federal Reserve will do its utmost to maintain loose monetary policy until the economy is firmly on the path to recovery, US rate-setters said.
US Q1 GDP crashes as consumption and business investment collapse
The US economy shrank sharply and more quickly than expected at the start of the year, even before being hit by the full force of the Covid-19 pandemic.
US durable goods orders plummet amid lower demand for jets and autoomobiles
Orders in the US for goods made to last more than three years crashed lower last month amid huge drops in those for civilian aircraft and those for automobiles and parts.
US new home sales crash in March, worse to follow
New home sales in the US staged their largest drop in six years last month with some economists expecting still worse in the April figures.
US jobless claims soar again during latest week
Initial weekly US jobless claims continued to surge higher during the latest week, underscoring the dire state of the jobs market.
First half likely to be 'very ugly', warns BoE chief economist
The Bank of England’s chief economist Andy Haldane believes Covid-19 has already caused the UK’s economy to shrink, with a further, sharper contraction likely as the first half continues.
US oil slides back into negative territory as turmoil continues
The price of oil for May delivery slid back into negative territory on Tuesday, as modest improvements overnight receded and June contracts started to come under pressure.
BofA hikes target for gold 18 months ahead by half
Strategists at Bank of America hiked their target for gold prices in 18 months' time by half in anticipation of central banks and governments doubling the size of their balance sheets and fiscal deficits, respectively.
Historic rout in WTI futures amid fire sale ahead of expiry
US crude oil futures crashed at the start of the week with the price of West Texas Intermediate falling below zero for the first time ever.
Research into Covid-19 antibody therapy gaining ground - report
Antibody therapy for Covid-19 may be available by the autumn, according to a report on biotechnology firms carrying out research.
Gilead treatment has positive results on Covid-19 patients
An anitiviral medicine produced by Gilead Sciences of the US has had positive results on patients with extreme forms of Covid-19, raising hopes that a treatment for the disease could be close.
Philly Fed index crashes in April, but expectations hold up
A key regional manufacturing sector gauge plummeted in April as factories were shuttered in response to the Covid-19 pandemic.
AstraZeneca surges on Covid-19 drug trial
AstraZeneca shares surged on Tuesday after the pharmaceuticals giant said it will start a clinical trial to assess the potential of Calquence (acalabrutinib) in the treatment of the exaggerated immune response associated with Covid-19 in severely ill patients.
Week ahead: US/China data, OPEC+ in focus
The market spotlight over the coming will be on a slew of economic indicators in the US and China referring the months of March and April, and therefore the initial impact of the Covid-19 pandemic on those two economic powers, two of the world's largest.
Federal Reserve to purchase higher-rated junk bonds through new facility
America's central bank stepped up to the plate yet again with plans to provide as much as $2. 3trn in financing for the private sector, especially for small and medium-sized companies, alongside local and state governments.