02/05/2017

Press Review

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15:30 GMT, Tuesday, May 02, 2017

►►► Economy

4-traders ► U.K. Manufacturing Activity Improved Sharply in April U.K. manufacturing activity grew at the fastest clip in three years in April, as new orders and exports gathered pace, a survey showed Tuesday, suggesting the industry began the second quarter of the year on a solid footing. Deutsche Welle ► Euro area unemployment below 10 percent The 19-member eurozone has again recorded a monthly unemployment rate of under 10 percent, hitting a low not experienced since April 2009. But the differences among member states are enormous, Eurostat notes.

►►► Politics The Straits TImes ► China welcomes Asean summit declaration on South China Sea China on Tuesday (May 2) welcomed a softer stand taken by South-east Asian countries on the disputed South China Sea at a weekend summit, saying it showed efforts to ease tension were working. Reuters ► IMF approves second loan tranche to Moldova, praises progress The International Monetary Fund said its board has approved the disbursement of a second loan tranche to Moldova worth $21.5 million.

►►► Opinions Simon Tilford ► Britain’s complacency over Brexit will end in humiliation France and Germany don’t make the mistake of thinking they would be better off outside the EU. The UK is deluding itself if it thinks it will prosper Ferdinando Giugliano ► Italy Is Europe's Next Big Problem Emmanuel Macron looks on course to become France's new president, ending the threat of a euroskeptic at the Elysee. Even if Macron wins, though, it'll be too soon to celebrate a new phase of stability in the euro zone. Across the Alps, an economic and political storm is brewing -- and there's no sign anyone can stop it.

►►► Currencies FX Street ► EUR/USD keeps tops in the 1.0920 region The single currency stays in the upper end of the weekly range vs. the buck, with EUR/USD hovering over the 1.0920 region for the time being. Future Currency Forecast ► Strong UK PMIs could Improve Long-Term GBP AUD Outlook The Pound to Australian Dollar exchange rate has fallen from its highs this week, but Pound movement improved slightly on Tuesday when UK manufacturing stats beat expectations.

►►► Markets Market Watch ► Oil prices claw off five-week lows with help from softer dollar Oil prices gained moderately Tuesday, helped by a softer dollar, even as oversupply concerns centered now on Libyan output and rising U.S. production keep a lid on the market. CNBC ► US stocks set for cautious open as Federal Reserve meeting kicks off U.S. stock index futures pointed to a mixed open on Tuesday as the Federal Reserve's open market committee meeting kicks off.

►►► Top Videos Bloomberg ► Trump Considers Whether to Breakup Big Banks President Donald Trump was interviewed at the White House by Bloomberg News reporters Jennifer Jacobs and Margaret Talev. CNBC ► US economy a '2% animal' right now: Pro Erik Knutzen, Neuberger Berman, and Bruce Kasman, JPMorgan chief economist, provide their outlook on the markets and U.S. economy. We're seeing growth in Europe, says Knutzen.

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