Reduced appetite for risk is directly linked to increased tension between the US and China. Also expected for the new week is the publication of data on the non-agricultural labor market in May, which will be focused on the gradual removal of restrictive measures. In addition to this report, initial jobless claims and industrial goods are expected to be published during the week. The main news for this week: Unemployment in the United States rose to a record 20% The consensus forecast of the unemployment report is 19.7% for May,...
The Chinese Non-Manufacturing PMI for May was reported at 53.6 and the Chinese Manufacturing PMI at 50.6. Economists predicted a figure of 42.0 and 45.0. Forex traders can compare this to the Chinese Non-Manufacturing PMI for April, which was reported at 53.2 and to the Chinese Manufacturing PMI, which was reported at 50.8. The Chinese Composite PMI for May was reported at 53.4. Forex traders can compare this to the Chinese Composite PMI for April, which was reported at 53.4. The Australian AiG Performance of Manufacturing Index for May was...
General Electric (GE) expects a significant deterioration in key financial indicators for the second quarter. A warning was given one day after the sale of the iconic lighting fixture to Savant Systems. During a presentation at the strategic decisions conference in Bernstein on Thursday, CEO Larry Culp said GE expects a free cash outflow of $3.5-4.5 billion in the second quarter. This is much worse than in the second quarter, when operating cash outflows were $1.66 billion and industrial free cash outflows were $2.2 billion. Against the...
The Canadian GDP for March is predicted to decrease by 9.0% monthly and by 10.0% annualized. Forex traders can compare this to the Canadian GDP for February, which was reported flat at 0.0% monthly, and which increased by 0.3% annualized. The Canadian Industrial Product Price Index for April is predicted to decrease by 1.7% monthly, and the Canadian Raw Materials Price Index is predicted to decrease by 13.6% monthly. Forex traders can compare this to the Canadian Industrial Product Price Index for March, which decreased by 0.9% monthly and...
Tesla (NASDAQ: TSLA) cut prices by 6% to spur demand for its electric cars as some U. S. states begin easing quarantine restrictions, Reuters reports. Other North American automakers are also offering financing and incentives for delayed payments, hoping that buyers" interest will grow as the economy resumes its operations. As per the Reuters report, the data from auto-analysis organization J. D. Power show that retail sales of cars in April are likely to have halved as opposed to April 2019. Nevertheless, the company thinks that May...