Latest Market News – 10th June 2020


  • S&P recovers all 2020 losses
  • The UK sees lowest level daily rise in COVID-19 deaths
  • GBP/USD trades higher

Market Information

  • GBP/USD traded broadly higher yesterday, moving above the 1.2700, a level not surpassed since March. British retail sales data showed better UK consumer spending and slightly upbeat retail sales in May, as a result of lockdown restrictions being lifted.  Despite this being positive news, the data still came out as the second sharpest fall this year.
  • Global stocks traded higher yesterday, the S&P 500 erased all of its losses accumulated over 2020, as lockdowns begin to ease globally. The index closed 1.2% on the day, above 3,220 – the same as price levels at the start of this year . The Dow Jones Index was also up 1.7% , with gains in US equities fuelled further rallies in Asian stocks, the Hang Seng Index was up 1.8%.
  • The UK recorded its lowest daily rise in the number of covid 19 deaths since before the lockdown starting in March. Around 55 people died as of 17:00 BST on Sunday , taking the total number of deaths to 40,597.
  • Final GDP quarterly data for the Eurozone, came out better than expected, beating the forecast at -3.8% q/q.
  • Emerging Markets have enjoyed recent flows, as market risk appetite has increased, bolstered by economic recovery optimism and continues central bank support.


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