The below report consists of a market overview and insight into the equities, futures and derivatives markets, and FX speculative and deliverable markets.
* May Day today but been used four different reasons over the last month or two
* Equities slip as US data worse-than-expected and Risk-off sees global rates lower
* US Jobless Claims rose by 3.8m, 6 week total now over 30m
– remember it took the US a decade to add 20m jobs between 2009-2019
* Kiwi off the highs as profit taking ensued, following AUD’s retreat…..
– recent move short covering, but…