Daily European Opening News - 8th May 2020 .

5/08/2020 11:32:00 AM
  • Asian equity markets were higher across the board and U.S. equity futures expanded for overnight gains.
  • Chinese Vice Premier Liu He, US Treasury Secretary Mnuchin and USTR Lighthizer spoke over the phone and agreed to keep communications, strengthen cooperation and vowed efforts to implement the phase 1 deal.
  • Prime Minister Johnson will be able to ease the effects of the lockdown every two weeks, a plan that ministers are currently discussing.
  • The EU Commission will make it less stringent for countries using ESM funds so that they do not require macro-coordination programs.
  • Note, UK markets are closed today.
  • White House Trade Adviser Navarro said China vacuumed up all the world's personal protective equipment.
  • Australian PM Morrison said today we will move ahead with reopening the economy and that the next step is to build confidence in the economy.
  • RBA Statement on Monetary Policy stated it will maintain efforts to keep funding costs low and credit available to households and businesses, while it will not raise the cash rate target until progress is being made towards full employment and is confident inflation will be sustainably within 2%-3% target range.
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