Asia Session: The 'Buy Everything' Rally Powers On; Dollar Slump Continues
Asia Session: The 'Buy Everything' Rally Powers On; Dollar Slump Continues
MarketPulse | Jun 04, 2020 01:13AM ET
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The overnight price action on Wall Street was very much a re-run of the day before. The momentum in the global recovery trade remains undiminished, with equities carving out fresh gains globally and the rotation out of US dollar continuing apace. Energy prices stalled on OPEC+ concerns but did not retreat.
The US ADP Employment outperformed—if one could call it that—with a fall of 2.76 million jobs versus an expected loss of 9 million jobs. The April number was also revised lower. US PMIs also posted above expectation improvements. The data confirmed a trend seen this week, ex Germany and France, of improving economic conditions around the world, albeit from a low base.
Asia Session: The 'Buy Everything' Rally Powers On; Dollar Slump Continues
MarketPulse | Jun 04, 2020 01:13AM ET
Be the first to comment
The overnight price action on Wall Street was very much a re-run of the day before. The momentum in the global recovery trade remains undiminished, with equities carving out fresh gains globally and the rotation out of US dollar continuing apace. Energy prices stalled on OPEC+ concerns but did not retreat.
The US ADP Employment outperformed—if one could call it that—with a fall of 2.76 million jobs versus an expected loss of 9 million jobs. The April number was also revised lower. US PMIs also posted above expectation improvements. The data confirmed a trend seen this week, ex Germany and France, of improving economic conditions around the world, albeit from a low base.
