EURGBP retreat today after yesterday's sharp gains as markets surprised positively after a bigger than expected increase to the PEPP from the ECB. The ECB added an extra 600 billion to its Pandemic Emergency Purchase Program
The DAX index rallied by almost 2% today as the market continued to react to the ECB interest rate decision. In this, the bank left interest rates unchanged and decided to add €600 billion into its original €750 billion program. This stimulus, together with the Merkel-led fiscal stimulus will help German stocks in the near term.
Asian stocks trading on positive foot recovering from early losses on profit taking ahead of NFP report later on the day. Asian markets rallied during the week on recovery hopes after the coronavirus crisis.
Gold price is trading lower in today’s trading ahead of the much-anticipated US NFP report for May. Will US labor figures strengten or weaken the USD?
The ASX 200 made a major milestone today. The index moved above the important psychological level of $6,000 as investors reacted to the positive emergence of the economy. By gaining about 40 basis points, the index outperformed its New Zealand counterpart. Shares in the big four banks rose sharply after UBS issues an upgrade on two.
EURUSD is trading around its 11-week highs ahead of the US NFP report. The currency pair is also on a seven-day winning streak, can it go for eight?