Daily European Opening News - 21st May 2020 .

5/21/2020 11:19:00 AM (GMT+6)
  • Asian equity markets struggled to sustain the impetus from the rebound on Wall St where stocks were underpinned by hopes of a pick-up in economic activity
  • US President Trump alleged the incompetence of China was behind the “mass worldwide killing” and that China’s disinformation and propaganda attack on the US and Europe was a “disgrace”
  • US Senate passed a bill aimed at increasing oversight of Chinese companies which could require Chinese firms to de-list from US exchanges
  • The temperamental tone helped the DXY recover from a 3-day consecutive losing streak and extend the rebound from support at the 99.00 level
  • The Fed’s meeting minutes from the April confab came in largely as expected, with policymakers pledging to act as appropriate to support the recovery
  • Looking ahead, highlights include EZ, UK, US PMIs, CBRT and SARB rate decisions, US Initial Jobless Claims, Existing Home Sales, ECB's Panetta, Fed's Williams, Clarida, Powell, supply from Spain, UK and US
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