The weeks seems to fly by. Ours was quiet with a lot of the market in consolidation but there were a few opportunities around if you were looking. How was your week? Here are the news highlights!
On Monday the UK was allowed to open non-essential shops, like gyms, hairdressers and pubs that can serve outside only.
A really optimistic signal is that UK footfall across all retail destinations are reported to be up by 218% week-on-week, which indicates that people are actually up and about already. That may yet provide a strong tailwind for April and Q2 prospects, especially if pent-up demand translates over to consumption activity during the quarter. If things continue to go well with the virus situation and the vaccine rollout stays on course, summer is starting to look really bright for the UK; all things considered.
On Tuesday US health agencies called for the immediate pause of the Johnson & Johnson Covid-19 vaccine. This was due to six recipients were said to develop a rare disorder involving blood clots within about two weeks of the vaccination. Looking at the details, the six cases reported are out of 6.8 million doses administered of the Johnson & Johnson vaccine, so that is still a rather minute event.
- left the cash rate unchanged at 0.25%
- said its prepared to lower the rate further if required
- large-scale asset purchases program (LSAP) left at NZ$100bn
- said it’ll leave current monetary policy settings in place until its confidence that inflation and jobs targets are achieved
- expected a prolonged period of time to pass before these targets are hit
There were decent employment numbers from Australia on Thursday.
Employment Change: +70.7K … another huge beat
- expected 35K, prior 88.7K
Unemployment Rate: 5.6% and another beat
- expected 5.7%, prior 5.8%
A solid report notwithstanding the full time job dip.
- Underemployment rate (people with jobs but who would prefer more hours) decreased to 7.9% (prior 8.5%), lowest in nearly 7 years
- Monthly hours worked increased by 38 million hours
- employment-to-population ratio increased by 0.3 pts to 62.6%, and has increased by 0.1 pts from the same time last year
On Friday Turkey announced that it has banned the use of Cryptocurrencies to purchase goods and services. Turkey has not banned bitcoin deposits, only their use in shopping and through digital wallets.
Bitcoin is down 2.75% on the day at time of writing. The 4 hour uptrend remains intach though for the moment.
Ok that’s it from us. Have a great weekend all!.
T & T