Economic data for a back-up with the Trump News Conference at the main event
While the economic calendar is on the busier side, Trump Trump's press conference will be the main event, which is testing risk psychology early.
It was a relatively busy day in the economic calendar this morning. The Japanese Yen and Australian Dollar were active at the beginning of the day.
Leaving the economic calendar, markets responded to Trump's announcement, on Thursday about plans to announce measures against China at a press conference today.
Fiscal stimulation from Brussels and loosening of lockout measures across the EU and US have supported more risky assets today.
Looking at the latest coronavirus numbers,
On Thursday, the number of new coronavirus cases increased 112,124 to 5,900,627. On Wednesday, the number of new cases increased by 110,221. The daily increase is higher than the increase of Wednesday and 106,139 new cases since last Thursday.
France, Germany, Italy and Spain reported 5,612 new cases on Thursday, up from 1,892 new cases on Wednesday. Last Thursday, 1,976 new cases have been reported.
From the United States, the total number of cases rose 22,413 to 1,768,216 on Thursday. On Wednesday, the total number of cases increased by 20,392. By Thursday, May 21, a total of 28,089 new cases were reported.
The increase on Thursday will need to be monitored in the coming days. With the easing of lockout measures right in the 4th week, will come in the coming days, the 2nd wave will become clear
For Japanese people
Inflation was concentrated at the beginning of the day, along with retail and industrial production figures.
In May, Tokyo's Ku region witnessed inflationary pressure returning, with core consumer prices rising by 0.20%. In April, consumer prices were down 0.10% year-on-year. last year.
According to the Ministry of Home Affairs and Communications.
Increasing prices for clothing and footwear (+ 1.7%), furniture & home appliances (+ 1.7%), and culture & entertainment (+ 1.2%) supported the increase.
There was also a rise in prices for health care (+ 0.8%) and housing (+ 0.7%).
The price of education (-8.9%) and the cost of fuel, light and water (-1.9%) eased inflation pressure.
There were also discounts on transportation and communications (-0.1%) and miscellaneous (-0.8%).
In April, industrial production fell 9.1%, based on preliminary numbers, after falling 3.7% in March. Economists had a sliding forecast of 5.1%.
According to the Ministry of Economy, Trade and Industry,
The main sectors contributing to the reduction are:
Motor vehicles, iron, steel and non-ferrous metals, and transport equipment (no motor vehicles).
Key sectors contributing to the increase are:
Manufacture of machines.
The forecast for May is not much better, with the forecast for industrial production being revised from -1.4% to -4.1%. However, in June, production is forecast to increase by 3.9%.
Retail sales were also disappointing in April, with locking measures and social alienation.
According to the Ministry of Economy, Trade and Industry, retail sales fell by 13.7% in April, compared to the same period last year, after slipping 4.7% in March. 11.50% reduction.
Japanese Yen has changed from ¥ 107,701 to ¥ 107,608 after the publication of figures. At the time of writing, the Japanese Yen fell 0.22% to 107.41 against the US Dollar.
For the Australian dollar
Private sector credit stalled in April, after rising 1.10% in March.
According to figures released by RBA,
Corporate credit increased by 0.1%, after rising 3.1% in March.
Personal credit fell by 3.0%, after falling 1.4% in March.
Housing credit increased by 0.2%, down from 0.3% in March.
The Australian Dollar moved from $ 0.66612 to $ 0.66615 after the figures were published. At the time of writing, the Australian Dollar was up 0.08% to $ 0.6642.
In other place
At the time of writing, the Kiwi Dollar fell 0.11% to $ 0.6203.
It's a busy day ahead on the economic calendar. Key statistics include French and German retail sales figures for April and Eurozone's preliminary inflation figures for May.
Preliminary inflation figures for France and Italy and estimates of GDP for France will also be given.
However, we would expect the numbers to have a muting impact on EUR. EU recovery plan EU and continued easing of lockout measures are still positive.
While COVID-19 news and updates remain positive EUR, the market will need to monitor the number of new cases. On Thursday, there was a growth. If an uptrend begins, this might be a question for member state plans to ease lockout measures even further.
Right from the start of the day, it was the risk aversion that pinned the EUR as markets were waiting for the Trump Trump press conference after today.
At the time of writing, EUR has increased by 0.07% to $ 1.1085.
It's different from a quiet day ahead on the economic calendar. There are no physical stats provided by Pound with directions.
During the day, expect market sentiment and any Brexit conversation to be the main driver.
At the time of writing, the pound has risen 0.01% to $ 1,222.
Along the lake
It's different from a busy day ahead on the US economic calendar. Economic data includes April inflation and May consumer spending and consumer sentiment data and Chicago PMI numbers.
Hopefully the May figures will have the biggest impact, with markets likely wiping out April numbers.
In addition to the numbers, Fed Chairman Powell is expected to speak. Any comment on the US economy and monetary policy will attract a lot of attention.
However, the main event of the day was the Trump Trump press conference. What does the president of the United States have in store for China?
The Dollar Spot Index increased 0.02% to 98,477 at the time of writing.
It is also a busy day in the economic calendar. Key statistics include Q1 GDP and April RMPI.
Hopefully the GDP numbers will have some impact, although the markets are expecting some pretty terrible numbers. Anything better than forecast should be positive Loonie
However, crude oil prices and market risk sentiment will be the main driver of the day.
At the time of writing, Loonie fell 0.10% to $ 1.3777 against the US Dollar.
To see all economic events today, see our economic calendar.
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