Forex Marketz Daily Forex News – Fully Markets Update
The European financial and equity markets are set to ring the opening bell lower on Thursday. Traders and other European financial market participants are trying to digest the prospects of an economic recovery after the Covid-19 shutdown.
Traders are also watching the continued violent protests in the United States that erupted after Minneapolis Police caused the death of a black man using disproportionate force and kneeling on his neck for nearly ten minutes as he begged for his life.
The European benchmark, in London, the FTSE is shown opening 32 points lower at 6,832. The German DAX is seen opening down 32 points, as well, at 12,435. The French CAC 40 is seen opening lower by 21 points at 4,995.
By late afternoon hours, Hong Kong time, the Asian equity and financial markets were mixed. Traders are assessing the prospects of an economic recovery as nations ease lockdown restrictions.
European Traders Eye the ongoing Protests in the United States
Protests, often turning violent, are continuing throughout the United States over the death of George Floyd. He was an unarmed black man, while in police custody, was killed. This act sparked a flood of race based protests throughout the country.
With that said some tensions have appeared to ease. They are still simmering and threatening to divide, an already deeply politically divided nation, even further.
Overnight, in defiance of curfew orders, thousands of demonstrators launched peaceful protests throughout American cities. Major cities, including New York, have imposed curfew orders and have strengthened law enforcement to try and keep the peace.
President Donald Trump has berated governors, including New York’s Governor to demanded that he calls up the National Guard. Something that Governor Cuomo is not prepared to do.
Traders Digest Labor Economic Data out of the States
Traders are digesting the private ADP non-farm payroll change, for the month of May. The report showed that the U.S. labor sector shed 2.76 million jobs. This was far better than the expected contraction of 8.75 million.
Today, the U.S. Labor Department will release weekly unemployment claims data, for the week ending 29 May as well as weekly continuing claims numbers.
