Latest Market News – 10th June 2020
- S&P takes back all 2020 losses
- The UK sees lowest level daily rise in COVID-19 deaths
- GBP/USD trades higher
- GBP/USD traded broadly higher yesterday, moving above the 1.2700, a level not surpassed since March. Overnight British retail sales, showed a diminishing UK consumer spending and retail sales easing in May, as a result of lockdown restrictions being lifted. Though even though this was 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 – interestingly this is where we saw the index at the start of the year. The Dow Jones Index was also up 1.7% , gains in US fuelled further rallies in Asian stocks, China’s CSI 300 was up 0.5% and the Hang Seng Index 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.