Investor focus will likely remain on a resurgence of coronavirus cases in some parts of the world, with four U.S. states reporting a spike in new cases and hospitalizations amid attempts to reopen their economies. Meanwhile, a Chinese Center for Disease Control expert said Thursday that a recent outbreak in Beijing is now under control.
Stocks in Asia Pacific edged higher overnight, with China's Shenzhen component adding more than 1% to lead gains while Australia'sGeopolitical tensions also resurfaced Thursday, with U.S. President Donald Trump again threatening to cut ties with China despite top diplomats from the world's two largest economies holding trade talks, and U.S. Trade Representative Robert Lighthizer suggesting that cutting trade relations with Beijing would not be a viable move.
On the data front, Germany's statistics office on Friday reported a 2.2% annual fall in inflation for May and a 0.4% decline from the previous month, slightly below expectations. U.K. retail sales for May were down 13.1% year on year, outstripping expectations of a 17.1% in a Reuters poll of analysts. On a monthly basis, retail sales were up 12% as lockdown measures eased slightly, according to the Office for National Statistics.
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