Forex Marketz Daily Forex News – Fully Markets Update
The Asian and other regional markets opened higher Monday morning. Investor sentiment was improved over signs that more and more nations are easing restrictions and are starting to reopen their economies.
Asian and Pacific Rim traders were also digesting the record number of job losses in the United States for the month of April.
In Japan, the Nikkei 225 was up 1.6 percent in the morning and shares on the broader Topix index jumped over 1.8 percent.
Across the Korean Strait, the Asian benchmark, the Kospi composite index, in Seoul South Korea was up just under half a percent by mid-morning.
In Australia, the ASX 200 was trading up 1.14 percent and shares in Hong Kong, led the region, as shares on the Hang Seng index were up 1.82 percent at last glance.
On the mainland, in China, the indices were also higher by mid-morning. The Shanghai composite was up 0.38 percent and shares on the smaller Shenzhen gained 0.43 percent.
Asian Traders Monitor Reports that Countries are restarting their Economies
More and more nations are starting to consider and actually gradually restarting their economies that were close by the Covid-19 global pandemic. The Prime Minister of the United Kingdom, Mr. Boris Johnson, outlined some “conditional plans” to ease lockdown restrictions.
The British Parliament is starting the process to gradually reopen their economy and ease social distancing restrictions.
Over the weekend, Disney announced plans to reopen their theme park in Shanghai as of later today.
Global governments are likely to remain cautious. South Korea is warning of a second wave of infections as cases are already being reported. This comes a few days after the country was praised for its response to the initial Covid-19 outbreak.
Traders Digest U.S. Stunning Job Losses for April
Last month, the United States shed a record number of jobs at a level not seen even during the Great Depression a century before.
U.S. Treasury Secretary Mnuchin gave remarks, on Sunday, as well as an ominous warning that the unemployment levels in the world’s largest economy could “get worse before they get better.”
He said that the nation’s unemployment rate might have already reached percent. After the NFP, for April, showed a record number of American losing their jobs. This number came in at 20.5 million.
