The week has began where it ended, with cautious optimism in stocks, a touch weaker dollar and only oil prices are on the rear foot. Bad news seems to be priced in.

Coronavirus: Total confirmed cases have surpassed four million cases, with figures falling in Europe but flare-ups reported in South Korea and a replacement cluster in Wuhan, China. US infections remain elevated outside the ny area.

America lost over 20 million jobs in April, within expectations, and therefore the percentage hit 14.7% as of mid-April, with employment losses reaching even the healthcare sector. The labor situation may worsen . The devastating figures were shrugged off by markets. Fresh consumer figures for April stand out later within the week.

See US Non-Farm Payrolls Quick Analysis: When the worst sends markets higher

President Donald Trump reiterated his urge to return to normal while the disease has reached the White House with several cases reported among staff. vice chairman Mike Pence is functioning out of the White House.

Europe: France, Spain, and other countries are taking additional steps to ease the lockdowns as COVID-19 statistics improve across the continent. German’s Reproductive rate (R) has topped 1 and caused some worried.

The European Commission is threatening to sue Germany over the country’s constitutional court ruling that parts of the ecu Central Bank’s bond-buying scheme is against the law . ECB President Christine Lagarde committed to doing whatever is important . EUR/USD is stable around 1.0850.

UK: Prime Minister Boris Johnson announced a minor easing of the lockdown with further steps to conditionally are available June and July. His message was criticized by various groups and more clarity may come later within the day. Brexit talks resume because the EU accuses Britain of slow-walking topics that interest Brussels while urging progress on others. GBP/USD has stabilized.

The Australian and New Zealand dollars are edging up amid the upbeat mood while the Canadian dollar is small changed as crude prices tick down.

Cryptocurrencies: Bitcoin fell sharply over the weekend, nearing $8,000 before stabilizing above $8,500. Traders are awaiting the all-important “halving” event which can see new BTC produced at 50% of the previous rate.


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