IEA cuts oil demand forecasts over gloomy outlook on global travel
on August 13, 2020 at 8:13 am
IEA cuts its forecast for global oil demand as air travel suffers more than expected from the ongoing virus crisis - 2020 global oil demand cut from 92.1 mil bpd to 91.9 mil bpd The agency reduces oil demand estimates for almost every quarter through the end of 2021, with 2H 2020 seeing the steepest downgrades.
Japan, Singapore reportedly to ease border restrictions from September
on August 13, 2020 at 7:15 am
Kyodo News reports on the matter The report says that from September, relaxed measures for people travelling between Japan and Singapore will apply to business travellers and expatriates, citing the Japanese government on the matter.
European equities a little lower to kick start the day
on August 13, 2020 at 7:06 am
A touch softer as we get the session underway This somewhat mirrors the more tepid tones observed in US futures as well, with S&P 500 futures down 0.1% currently. Overall, this points to some pause in the risk rhetoric after the more solid gains posted yesterday more than anything else.
Spain July final CPI -0.6% vs -0.6% y/y prelim
on August 13, 2020 at 7:00 am
Latest data released by the National Statistics Institute - 13 August 2020 here
Trade the strong against the weak
on August 13, 2020 at 6:29 am
NZD One of the key trading maxims in the FX world is pairing strength against weakness.. So, yesterday we had the RBNZ rate meeting which has given us a weak NZD bias. Going into the event a client was asking me what I was going to do before the RBNZ rate meeting. The answer was simple,
German health minister says optimistic of coronavirus vaccine in the coming months
on August 13, 2020 at 6:20 am
Comments by German health minister, Jens Spahn - If not, there certainly will be a vaccine next year - Average age of infected persons in Germany is falling - There are a lot of new infections among younger people Spahn is mainly trying to defuse tensions with the vaccine remarks surely. Germany reported another 1,445 new cases today as
Eurostoxx futures -0.3% in early European trading
on August 13, 2020 at 6:15 am
Mildly softer tones in early trades - German DAX futures -0.2% - UK FTSE futures -0.7% - Spanish IBEX futures -0.2% There aren't any firm hints about the risk mood as we get the session going, with US futures are down ~0.1% but keeping closer to flat levels in general. Meanwhile, Treasury yields are down a little with 10-year
Nikkei 225 closes higher by 1.78% at 23,249.61
on August 13, 2020 at 6:08 am
Asian equities mostly better on the day Elsewhere, US futures are down ~0.1% but keeping closer to flat levels for the most part - giving little hints of a risk tilt to kick start the session.