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Daily European Opening News - 5th May 2020.

5/05/2020 11:33:00 AM
  • Asian equities traded positively for rebound of Wall St., where key indices gradually protected from initial losses.
  • Trump's senior administration have indicated that China will not face any economic sanctions if it abides by the January trade agreement.
  • In FX, the DXY was softer and traded below the 99.50 level with price action in the FX space otherwise relatively light.
  • WTI crude futures have risen in a tone of constructive risk towards its resumption, which briefly tested the 22/bbL level in reverse in the June agreement.
  • Looking ahead highlights include UK Construction & Services PMI, Canadian Trade Balance, US Composite & Services PMI, German Court ruling on ECB PSPP, ECB’s Mersch, Fed’s Evans & Bostic.
  • University of Washington Institute for Health Metrics and Evaluation (IHME) updated model predicted the number of US deaths from coronavirus could reach over 134k by August
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