More COVID-19 woes, forecast downgrades and oil concerns
Thursday 25th June 2020 Markets have been hit with a triple whammy – disturbing COVID-19 numbers emerging from the United States, a worse than expected downgrade to growth forecasts from the WTO and a big rise in oil inventories, suggesting consumption isn’t picking up as much as hoped. Phil Dobbie talks through all three with NAB’s David de Garis, and the market reaction, which has seen equities take a big hit, the US dollar reverse its downward trajectory and a sharp fall in oil prices. To add to the unease, the US is back to threatening Europe with tariffs, including many new items like biscuits and gin.