“We don’t think the market is going to re-test the lows, but it’s probably seen its best also, so I’m expecting a correction,” said Tony Huntley, chief investment officer at Melbourne-based fund manager Adansonia Capital.South Korea is dealing with a fresh outbreak in Seoul, while China has re-imposed movement restrictions near its borders with North Korea and Russia after a new outbreak was detected there.
Markets are looking ahead to the release of the European Central Bank’s latest economic bulletin at 0800 GMT and the latest U.S. jobless claims data at 1230 GMT.Equity markets have wavered since April’s rally as investors and authorities try to weigh the risks of re-starting economies quickly against the financial ruin that lockdowns have wrought, while worrying about a flare-up infections.
“But there is also a risk that we wait too long, there is a risk of destroying the U.S. economy and the health impact that that creates.” “A second pandemic wave is unfortunately not a tail risk, so the full extent of the economic damage may be underestimated,” he said, recommending a long position in euro/kiwi EURNZD=which has gained nearly 9% this year as market volatility has increased.slipped to a one-week low of $0.6420 after the country posted its biggest plunge in employment on record.under 60 cents at $0.5974 and had the euro and pound under pressure.
Crypto is doing well. Litecoin will dominate
rev_rich30
No kidding!!!