Daily US Opening News - 6th May 2020

5/06/2020 05:06:00 PM
  • European are overall mixed in a choppy.
  • China are reportedly considering dropping their numerical GDP growth target for 2020.
  • European Commission Spring Economic Forecasts: EZ 2020 GDP to contract 7.7% before rebounding 6.3% in 2021
  • Earnings from: PayPal, T-Mobile US, General Motors, Metlife, American Electric Power
  • The German federal government agreed with the states that, according to the draft document, the states could make their own decisions on the gradual reopening of various aspects such as universities, restaurants, bars, hotels, trade fairs and cosmetic studios. In addition, the document states that regional restrictions will be restored if more than 50 new infections occur per 100k inhabitants of population in the county in the last few days.
  • The dollar is getting miserable elsewhere and there is a sense of dire risk, with DXY returning to the 100.00 handle before the ADP provided the data proxy of the first monthly U.S. jobs for Friday’s NFP release, although not always a reliable indicator for the BLS headline number.
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