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Market Summary 22APR2020

2020-4-22

 

1.Market Briefing

  • Central banks in Group of Seven countries purchased $1.4 trillion of financial assets in March, nearly five times as much as the previous monthly record set in April 2009, according to a Bloomberg Economics analysis.
  • The coronavirus pandemic, if prolonged, could trigger a negative feedback loop in which a worsening economy threatens to destabilize Japan's financial system, the Bank of Japan warned on Tuesday.
  • European Union leaders meeting via videocall on Thursday are not expected to make any final decisions on exactly how to finance economic recovery from the coronavirus pandemic, diplomats and officials told Reuters.
  • British employers have put more than a million staff on temporary leave due to the coronavirus, finance minister Rishi Sunak said, reporting a flood of applications since the government's costliest program to support the economy opened.
  • Australia's economy could shrink "significantly" in the June quarter and remain "subdued" through September due to the hit from the coronavirus pandemic, minutes of the country's central bank's April 7 policy meeting showed on Tuesday.
  • The Dow plunged on Tuesday, as a slump in oil triggered a sea of red across Wall Street, prompting investors to pull their bearish bet on large-cap tech stocks.
  • Oil fell around 55% as bears mauled it on news that the state of Texas won’t cut output yet despite immense supply glut and scarce storage for oil.
  • Gold rose as the Dow’s slump on Tuesday amid a sea of red in U.S. energy and tech stocks created fears of an imminent cash crunch that knocked gold right off the $1,700 berth it had returned to in the previous day.

2.Today’s News

Server Time HK Time Currency Description Expectation
04:30 09:30 AUD Retail Sales m/m -

 

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