OPEC sees record rise in global oil demand in 2021 By Reuters



© Reuters. A 3D printed oil pump jack is seen in front of displayed Opec logo in this illustration picture

LONDON (Reuters) – Global oil demand will soar by a record 7 million barrels per day in 2021 as the global economy recovers from the coronavirus pandemic but will remain below 2019 levels, OPEC said in its monthly report.

It was the first report in which OPEC assessed oil markets next year. It said the forecast assumed no further downside risks materialised in 2021 such as U.S.-China trade tensions, high debt levels or a second wave of coronavirus infections.

“This assumes that COVID-19 is contained, especially in

major economies, allowing for recovery in private household consumption and investment, supported by the massive stimulus measures undertaken to combat the pandemic,” OPEC said.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



U.S. Cases Rise 2%; California Shuts Indoor Dining: Virus Update By Bloomberg



© Bloomberg. An employee wearing a protective mask and gloves at sanitizes a table in the outdoor dining area of a restaurant in Miami, Florida, U.S., on Wednesday, July 8, 2020. A day after announcing pending closures, Mayor Gimenez said he had met with medical experts and business leaders and decided that restaurants could still provide outdoor dining and gyms could open if everyone wore a mask.

(Bloomberg) — California closed indoor dining and bars, and its two biggest school districts said they would offer remote learning only despite calls by the Trump administration for classrooms to fully reopen. The state reported a record number of people hospitalized with coronavirus.

New York City will redouble efforts to educate young people about the importance of wearing masks and keeping socially distant after an increase in cases among those ages 20 to 29.

Hong Kong reported 41 new local cases, another record high, and tightened social-distancing measures amid fears of a resurgence after weeks of near-normal activity. More than half a million residents defied the fresh outbreak and government warnings to vote in an unofficial primary.

Key Developments:

  • Global Tracker: Cases top 12.9 million; deaths surpass 569,600
  • New York school reopenings will hinge on regional infection rates
  • Covid-19 reinvades U.S. states
  • Death rate in majority-Black countries is getting worse
  • The pros and cons of pooling Covid-19 tests
  • Anonymity helped overcome stigma in handling of Korean nightclub outbreak

Subscribe to a daily update on the virus from Bloomberg’s Prognosis team here. Click VRUS on the terminal for news and data on the coronavirus.

U.S. Cases Rise 2% (3:59 p.m. NY)

Coronavirus cases in the U.S. increased 2% as compared to the same time yesterday to 3.34 million, according to data collected by Johns Hopkins University and Bloomberg News. That was in line with the 1.9% average increase over the past week.

California Shuts Indoor Dining, Bars (3:48 p.m. NY)

California Governor Gavin Newsom ordered all inside dining, wineries, movie theaters and other indoor entertainment closed to control the spread of Covid-19.

Bars and breweries statewide must close all indoor and outdoor operations, while fitness centers, worship services, protests and salons must shut in counties that have been on a monitoring list for three straight days. Those counties include Sacramento, Santa Barbara, San Benito and San Diego.

California reported 109,910 new cases in the last 14 days, and 1,104 new deaths, out of a total of 329,162 cases and 7,040 deaths. The state has 1,716 new patients in hospitals for Covid-19 in the past two weeks, an increase of 28% from the previous two weeks.

California Sees Record Hospitalizations (2:25 p.m. NY)

California reported a record number of people hospitalized with coronavirus: 6,485 on Sunday, up 2.6% from the previous day. The state also reported 8,358 new cases — above the 14-day average of 7,800 — as well as 23 new deaths, well below the 14-day average of 76.

L.A., San Diego Schools Go Remote in Fall: NYT (2:05 p.m. NY)

California’s largest school districts, Los Angeles and San Diego, said instruction will be remote only in the fall due to concerns over the coronavirus, according to the New York Times.

The school districts, which together enroll 825,000 students, are the largest in the U.S. to abandon plans for a physical return to classrooms when they reopen, the Times reported.

The joint announcement came as U.S. Education Secretary Betsy DeVos continued to press the Trump administration’s case to quickly reopen public schools, not only for students’ social and emotional development but also to allow parents to return to work fully, the newspaper said.

Atlanta Mayor Asks N.Y. for Help (1:05 p.m. NY)

New York state will send Atlanta resources to help increase testing and tracing efforts as the number of new coronavirus cases in Georgia continue to climb.

Atlanta Mayor Keisha Lance Bottoms, on Monday via video link, asked Governor Andrew Cuomo for help, saying the intensive-care unit capacity in some hospitals in the city are close to maxing out.

“We’re headed in the wrong direction,” she said. “Unless we have a coordinated approach across this country, we are going to continue to unnecessarily watch people die.”

Bottoms, a potential vice presidential pick for Democrat Joe Biden, has been at odds with Republican Governor Brian Kemp over the state’s response to Covid-19.

New York, once the center of the pandemic in the U.S., is in a “stable period” right now, Cuomo said.

He lauded Bottoms for her leadership, saying she’s doing “exactly the right thing” in slowing reopening plans and requiring masks to be worn. Cuomo said he would send a team down to aid Atlanta.

Cuomo said he’s talking to a few states as well, seeing what they need and the best way to get it to them.

Hong Kong Mandates $645 Fine for No Mask (12:15 p.m. NY)

Hong Kong ordered gyms and bars to close for a week, restored strict limits on public gatherings and introduced fines for anyone refusing to wear a mask on public transport in a fresh bid to prevent the resurgent coronavirus from spiraling out of control.

The tougher measures, to take effect Wednesday, include drastically limiting the number of people gathering in public back to four, Chief Executive Carrie Lam said in a press conference on Monday.

No Normal for Foreseeable Future: WHO (11:45 a.m. NY)

It would be unrealistic to expect that a perfect vaccine will become available to everyone immediately, and it’s not realistic to expect Covid-19 to disappear in the coming months, said Mike Ryan, head of the World Health Organization’s emergencies program, speaking at a briefing in Geneva.

“There will be no return to the old normal for the foreseeable future,” said Tedros Adhanom Ghebreyesus, head of the organization, an agency of the United Nations.

The best way to reopen schools is to do so once countries succeed in combating the spread of the disease, Ryan said. Not enough is known about the role of children in transmission, though several recent studies suggest that children over 10 are more susceptible to infection than those under 10, said Maria Van Kerkhove, the WHO’s technical lead officer on Covid-19.

Separately, two scientists that the WHO has sent in an advance mission to China are working remotely with local researchers as local rules require them to stay in quarantine. Learning how animals transmitted the disease will help in fighting it, Van Kerkhove said.

Arizona Reports Fewest New Cases in Two Weeks (11:40 a.m. NY)

Arizona on Monday reported 1,357 new Covid-19 cases for a total of 123,824, an increase of 1.1% that was well below the prior seven-day average of 3.2%. It was the lowest number of new cases reported in two weeks.

The Arizona Department of Health Services also reported eight new deaths, bringing the statewide toll to 2,245.

NYC to Educate Young People on Masks (10:55 a.m. NY)

New York City will redouble efforts to educate young people about the importance of wearing masks and keeping socially distant after a rise in cases among those ages 20-29.

Young adults between the ages of 20 to 29 with Covid-19 infection increased to about 35 per 100,000 during the last week in June, from about 27 per 100,000 in the first week in June, according to the city health department. The rate among those 30 to 39 remained almost flat, to about 31 per 100,000 from about 30 per 100,000 during the same time span.

While the city is celebrating its first day of no deaths from Covid-19 since the outbreak, and its hospitalization and positivity rates are stable, it sees a troubling pattern as the phased reopening of the most populous U.S. city lures people out of their homes.

“We’re going to double down and make sure that younger adults really follow precautions,” the mayor said. “We need to remind them that they are not impervious.”

De Blasio also urged President Donald Trump to invoke the Defense Production Act now to make sure all states get the supplies they need to battle the virus.

Florida Cases Rise More Than Average (10:40 a.m. NY)

Florida reported 282,435 Covid-19 cases on Monday, up 4.7% from a day earlier, compared with an average increase of 4.4% in the previous seven days. Deaths among Florida residents reached 4,277, an increase of 35, or 0.8%, according to the report, which includes data through Sunday.

The new rate of people testing positive for the first time climbed to 11.5% for Sunday, from 11.3% on Saturday.

Empire State Building Observatory to Reopen (9:12 a.m. NY)

The Empire State Building plans to reopen the observatory on July 20 under New York state’s Phase 4 guidelines. Hours of operation will be reduced for the first few weeks, and initial capacity will be cut more than 80% to only 500 guests at a time.

Top U.K. Scientists Urge Making Masks Mandatory (8:30 a.m. NY)

A group of U.K. scientists is calling on the government to make face masks mandatory in indoor spaces, as evidence on the use of coverings in preventing the spread of Covid-19 grows.

The Independent SAGE panel — set up as an alternative to the U.K. government’s official coronavirus advisory committee — published a report Monday petitioning for new laws to enforce the use of masks. Legislation should be accompanied by a campaign advising the public of the benefits, according to the group.

Hong Kong Tightens Measures Amid New Wave (8 a.m. NY)

Hong Kong tightened virus control measures as it battles with a new wave of local cases. These include limiting the number of people gathering in public to four from 50, and banning dine-in services at eateries from 6 p.m. to 5 a.m. The moves were announced at a news conference with Chief Executive Carrie Lam. The new social-distancing measures take effect on Wednesday.

Earlier, Hong Kong reported 41 new local cases, another record high. Government officials said 21 were related to previous clusters while 20 were of unknown origins. This suggests that hidden chains of transmission have been circulating for some time as the population returned to work and social activities.

Moderna (NASDAQ:) Vaccine Sales May Top $5 Billion (7:12 a.m. NY)

Moderna Inc.’s experimental vaccine for Covid-19 could generate sales of more than $5 billion a year, Jefferies (NYSE:) analyst Michael Yee said, initiating the stock at a buy.

Chinese Ports Jammed (7 a.m. NY)

Intensive testing of meat, seafood and other products for the coronavirus has tripled customs clearance times at some major Chinese ports, raising concerns the delays could ensnare global trade flows.

Pfizer (NYSE:), BioNTech Vaccine Candidates Fast-Tracked (6:54 a.m. NY)

Two of Pfizer and BioNTech’s four investigational mRNA-based vaccine candidates received fast track designation from the FDA. The designation was granted based on preliminary data from phase 1/2 studies that are currently ongoing in the U.S. and Germany as well as animal studies. The companies said a large, global Phase 2b/3 study may begin as early as this month.

BioNTech shares rose 5% pre-market while Pfizer gained 1.6%.

Iran’s New Cases Slightly Below Average (6:09 a.m. NY)

Iran reported 2,349 new daily cases, a 0.9% increase that is slightly below the 1% average rise from the past week. There were 203 new deaths in the past 24 hours. The country has 259,652 infections and 13,032 fatalities.

Greece Allows Flights From Sweden (6 a.m. NY)

Greece will allow direct flights from Sweden from July 22, according to government spokesman Stelios Petsas. The country will also look into allowing direct flights from non-EU countries, such as the U.S., from end of July, depending on the situation in those countries and on condition travelers have a negative test for Covid-19 carried out within 72 hours before arrival.

©2020 Bloomberg L.P.



Data Suggests Bitcoin Price Will Rise as Investor Demographics Shift By Cointelegraph



Data Suggests Bitcoin Price Will Rise as Investor Demographics Shift

(BTC) has been trading sideways for around a month now and is being outperformed by several other altcoins like Ether (ETH) and Chainlink (LINK). The cryptocurrency also hit the lowest levels of volatility since November 2018.

Moreover, Bitcoin’s trading volume in it’s USDT and USD pairs has decreased by 56% and 44%, while global crypto trading volumes in June are down by 49.3% as well, according to CryptoCompare.

Continue Reading on Coin Telegraph

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Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



U.S. office, apartment vacancy rates rise marginally in second quarter: Reis By Reuters



© Reuters. Pedestrians sit around the outside of the Oculus transportation hub in New York

(Reuters) – U.S. office and apartment vacancy rates rose marginally in the second quarter from a year earlier, as property owners were yet to feel the full impact of the COVID-19 pandemic, according to real estate research firm Reis Inc.

The U.S. office vacancy rate rose to 17.1% in the second quarter from 16.8%, a year earlier, while the U.S. apartment vacancy rate inched up to 4.8% from 4.6%.

Reis said the forced work-from-home option driven by the pandemic has prompted many office planners to reconsider future needs which will impact the office market for years.

“Demand for apartments could hold steady in most metros as the housing sales market will likely bear the brunt of the downturn that the pandemic has incurred,” according to the report.

In May, U.S. home sales dropped to their lowest level in more than 9-1/2 years strengthening expectations for a sharp contraction in housing market activity in the second quarter.

Reis said that in the apartment market, the national average asking rent and effective rent rose 1.6% and 1.7% respectively, from a year ago.

The research firm said vacancies would continue to rise and forecast rent declines for the next two quarters, especially if the Paycheck Protection Program, a government initiative to help small businesses apply for forgivable loans, and unemployment insurance are not renewed.

The research firm said the U.S. retail vacancy rate was flat at 10.2% in the second quarter and even though retailers have re-opened in the last month, many may not survive a second wave of the virus.

New construction of office spaces declined to 3.3 million square feet from 10.2 million a year earlier.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Aeromexico shares rise for second day despite missed debt payment By Reuters



© Reuters. An Aeromexico airplane prepares to land on the airstrip at Benito Juarez international airport in Mexico City

MEXICO CITY (Reuters) – Shares in airline Aeromexico closed up 4.48% on Friday, rising for a second straight day even as the company missed a debt payment after filing for bankruptcy protection.

Aeromexico (MX:), part-owned by Delta Air Lines Inc (N:), this week became the third airline in Latin America to file for Chapter 11 bankruptcy protection after the business took a huge hit from the coronavirus pandemic.

Late on Thursday, bank CIBanco said Aeromexico had failed to make interest payments worth some 1.01 million pesos ($45,000) on local stock certificates AEROMEX 01119.

CIBanco, representing holders of the securities, said it would convene a meeting of investors to resolve the matter.

Aeromexico shares traded has high as 5.35 pesos a share on Friday before trimming gains to close at 5.17 pesos.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Dollar steadies as U.S. coronavirus cases rise before long holiday By Reuters



© Reuters. A U.S. Dollar banknote

By Stanley White

TOKYO (Reuters) – The dollar was hemmed into a narrow range on Friday, supported by safe-haven flows as a resurgence of the coronavirus in the United States discouraged some investors from taking on excessive risk.

The yuan held steady after data showing a strong rebound in China’s services sector, as investors avoided big positions due to worries about diplomatic friction between Washington and Beijing over civil liberties in Hong Kong.

The U.S. economy added more jobs than expected in June, data showed on Thursday, but reaction in the currency market has been muted because another spike in coronavirus infections threatens to once again put the breaks on economic activity.

“New infections in the United States have been on an uptrend since June,” said Junichi Ishikawa, senior foreign exchange strategist at IG Securities.

“The market is leaning more toward buying the dollar, particularly against emerging market currencies, because the dollar is considered the safest asset around.”

Against the euro (), the dollar traded at $1.1243 on Friday in Asia.

The dollar held steady at 0.9460 Swiss franc after three straight days of gains.

The British pound traded hands at $1.2465 and stood at 90.20 pence per euro ().

The dollar was little changed at 107.57 yen .

A wave of coronavirus infections has prompted the halting of or back-pedalling on plans to reopen economic activity in several U.S. states after months of strict lockdowns.

Officials are also taking steps to curtail activity during the extended Independence Day holiday weekend starting on Friday.

Trading in other Asian currencies on Friday was subdued before the U.S. holiday, but analysts say sentiment favours more gains in the dollar as investors turn cautious.

Relations between the United States and China are also in focus.

The U.S. Senate unanimously approved legislation on Thursday to penalise banks doing business with Chinese officials who implement Beijing’s new national security law for Hong Kong, raising the chances of further friction between the world’s two- largest economies.

The traded at 7.0665, little moved after data showed China’s services sector expanded in June at the fastest rate in more than a decade.

The Australian dollar held steady at $0.6921 after data confirmed retail sales rebounded by a record in May.

Across the Tasman Sea, the New Zealand dollar traded at $0.6514.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Pfizer, Tesla Rise Premarket; McDonald’s Falls By Investing.com




By Peter Nurse 

Investing.com — Stocks in focus in premarket trade on Thursday, July 2nd. Please refresh for updates.

  • Pfizer (NYSE:) stock rose 2.6%, extending gains on Wednesday’s news that the pharma giant’s Covid-19 vaccine candidate (in collaboration with Germany’s BioNTech) has yielded positive results in a clinical trial. 

  • McDonald’s (NYSE:) stock fell 0.4% after the fast-food giant paused the reopening of its dine-in service in the U.S. as coronavirus cases continue to spread across states, according to an internal memo seen by the Wall Street Journal.

  • Tesla (NASDAQ:) stock rose 8.3%, continuing the electric maker’s impressive gains. Tesla became the world’s most valuable car manufacturer Wednesday, overtaking the market capitalization of Toyota, with its stock hitting a record high. 

  • American Airlines (NASDAQ:) stock rose 2.7% after the airline said it’s considering staff cuts; American reckons it’s overstaffed by about 8,000 flight attendants and may reduce its workforce through early retirements and voluntary leaves.

  • JetBlue Airways (NASDAQ:) stock rose 3.2% after the airline came to an agreement with the labor union that represents its pilots that avoids involuntary furloughs through April of next year.

  • Inovio Pharmaceuticals  (NASDAQ:) stock rose 3.9%, rebounding after dropping over 26% Wednesday after data from its coronavirus vaccine program fell short of expectations.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Euro zone unemployment edges up in May, sharper rise for women, youth By Reuters



© Reuters.

BRUSSELS (Reuters) – Unemployment in the euro zone edged up only slightly and by less than expected in May as lockdowns gradually eased, although the rise was more pronounced for women and youths.

The seasonally adjusted rate increased to 7.4% in May from 7.3% in April and 7.1% in March, the lowest level since records began in 1998.

May brought the second consecutive monthly rise, but it was less than the market expectation of 7.7%.

The only modest increase suggests furlough schemes providing temporary layoff are keeping many of those laid off during the COVID-19 pandemic out of the main unemployment records, although a number of these schemes will start to taper.

The situation was worse for women and youths.

Unemployment for people aged under 25 rose to 16.0% in May from 15.7% in April and 15.0% in March, a 19-year low. In Spain, about a third of young people were without a job.

For women, the jobless rate rose to 7.9% from 7.7% in April. For men, it was unchanged at 7.0%.

Separately, Eurostat said industrial producer prices fell by 0.6% month-on-month in May and by 5.0% year-on-year, steeper than the market consensus of down 0.5% and 4.8% respectively.

Energy prices fell by the most, but no component of the index rose month-on-month. Prices for capital goods and durable consumer goods were unchanged. These two categories, along with non-durable consumer goods, were modestly up year-on-year.

Producer prices are a key factor shaping consumer inflation, which the European Central Bank wants to keep below but close to 2% over the medium term, as changes in prices at factory gates largely translate into the final cost for consumers.

For Eurostat release, click on:

http://ec.europa.eu/eurostat/news/news-releases

 

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.



Dollar Retreats Over Positive Vaccine Data, But Will Rise Again with Increasing COVID-19 Numbers By Investing.com



© Reuters.

By Gina Lee

Investing.com – The dollar was down on Thursday morning in Asia, retreating on the back of positive results from yet another vaccine candidate for COVID-19.

U.S. Pharmaceutical giant Pfizer (NYSE:) reported results from early stage human trial for BNT162b1, one of four mRNA candidates currently under development by the company and Germany’s BioNTech (NASDAQ:), on Wednesday. The results indicated the production of neutralizing antibodies in all the patients who were inoculated after 28 days.

The that tracks the greenback against a basket of other currencies slipped 0.04% to 97.118 by 11:30 PM ET (4:30 AM GMT), with increasing risk appetite leading to investors retreating from the safe-haven asset.

But some investors predicted gains for the dollar with the ever-rising number of COVID-19 cases globally. There were over 10.6 million cases as of July 2, according to Johns Hopkins University data.

California was the latest state to re-implement lockdown measures on Wednesday to curb the increasing number of cases. With the World Health Organization warning that more countries could be forced to re-instate lockdown measures to curb the number of COVID-19 cases, investors are expected to turn to the greenback as well as the yen again.

“If we see further spikes in coronavirus cases, I would expect both the dollar and the yen to strengthen against other currencies,” Tohru Sasaki, head of Japan market research at J.P. Morgan, told Reuters.

The pair was up 0.05% to 107.52.

The pair lost 0.01% to 0.6913, giving up some of its earlier gains. The pair gained 0.15% to 0.6485.

The pair lost 0.01% to 7.0694 and the pair gained 0.09% to 1.2481.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





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Asian stocks rise on vaccine hopes, eyes on U.S. payrolls By Reuters



© Reuters. An SGX sign is pictured at Singapore Stock Exchange

By Swati Pandey and Imani Moise

SYDNEY/NEW YORK (Reuters) – Asian stocks tracked Wall Street higher on Thursday although sentiment was cautious ahead of U.S. employment data while prices jumped to more than six-month highs on a better global outlook and supply fears in top producer Chile.

MSCI’s broadest index of Asia Pacific shares outside of Japan rose 0.9% with all major indexes trading higher on hopes of a vaccine for COVID-19, which has killed more than half a million people globally and shut down the world economy.

rose 0.4%, China’s blue-chip index added 0.6% while Hong Kong’s climbed 1.7%.

E-mini futures for the S&P 500 were flat.

U.S. employment figures due later in the day are expected to show if the world’s largest economy can sustain its fragile recovery as new COVID-19 cases accelerate in several southern states.

Economists polled by Reuters expect private employers to show 2.9 new million new jobs June, which would follow a surprise increase in May. Casting some doubt over that projection, however, was a smaller-than-expected increase in jobs seen in the ADP report on Wednesday.

“A better-than-expected outcome could go some way to settling the near-term debate that the U.S. labor market will heal relatively quickly and justify new highs in U.S. equities,” said Stephen Innes, strategist at AxiCorp.

Wall Street ended Wednesday higher after key economic indicators showed a rebound in Chinese manufacturing activity as it recovers from the pandemic while sharp declines in European factory activity eased.

Risk sentiment was whetted by a COVID-19 vaccine from Pfizer (NYSE:) and Germany’s BioNTech, which was found to be well tolerated in early-stage human trials. ()

Equity investors shrugged off concerns about Hong Kong where police arrested more than 300 people protesting sweeping new laws introduced by China to snuff out dissent.

Those developments have raised concerns about China’s already strained relations with its major western trading partners, particularly the United States.

The U.S. House of Representatives passed legislation on Wednesday that would penalize banks doing business with Chinese officials who implement a national security law.

In commodities, the most-traded August copper contract on the Shanghai Futures Exchange touched 49,570 yuan ($7,016.28) a tonne, its highest since Dec. 30, 2019.

Manufacturing activity rebounded in the United States in June, while the factory sector in Germany, Europe’s largest economy, contracted at a slower pace and top copper consumer China posted better-than-expected manufacturing data.

Meanwhile in Chile, where the number of COVID-19 cases have been climbing, miner BHP said it would begin to slow production at its small Cerro Colorado copper mine in the country.

Elsewhere, oil prices eased and gold was a tad softer too while the dollar was steady in a sign of investor caution despite encouraging macro data.[O/R][GOL/]

slipped 6 cents to $41.97 a barrel. was off 12 cents at $39.70 a barrel. U.S. was 0.12% lower, at $1,777.70.

The safehaven greenback was unchanged against the Japanese yen at 107.45. The euro barely moved too and was last at $1.1254 while sterling was treading water at $1.2477.

That left the at 97.139.