Market Recap – US Government Spending

The UN security council is meeting today. Russia and China propose the lifting of some sanctions on N. Korea. Additionally, China requested to talk over Kashmir and India’s recent decision to lift Kashmir’s autonomous status.

Financial markets are mixed. Equties continue rising. EUR, AUD, CAD, CNY are falling.

The USA increases its fiscal spending with a $1.3tn package.

Macro releases: Yesterday’s manufacturing PMI numbers were disappointing. France, Germany, Europe, UK and USA reported falling manufacturing PMI numbers. The German, European and the UK numbers are below the 50 since February 2019. Today’s economic calendar includes US housing market releases and the US Capacity Utilization rate. Rising US Capacity utilization rate proves FED’s dot right.


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