Thursday 2nd July 2020
The overnight session started on a sour note over increasing concerns about Hong Kong. As NAB’;s Gavin Friend describes, the number of arrests under the new security law has increased in the last few hours. The UK’s Boris Johnson has offered a lifeboat to millions of residents to move to the UK, adding to the tensions with China. A possible COIVD-19 vaccine has lifted sentiment since, helped by strong manufacturing ISM numbers in the US and data showing a rebound in activity for Germany. Jobs are the big concern for the US though. The ADP employment numbers fell short of expectations, travel bans and the reversal of lockdown easing will challenge future jobs growth. Non-farm payrolls numbers tonight will be watched with keen interest.